# EDGAR Filing Document

**Accession Number:** 0000857490
**File Stem:** 0001104659-23-027054
**Filing Date:** 2023-3
**Character Count:** 4953039
**Document Hash:** abab2e98f2c0b484990982135d214314
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-027054.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001104659-23-027054

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 121

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**EFFECTIVENESS DATE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD VARIABLE INSURANCE FUNDS
- **CENTRAL INDEX KEY:** 0000857490
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05962
- **FILM NUMBER:** 23690145

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482
- **BUSINESS PHONE:** 6106691000

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD VARIABLE INSURANCE FUND
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD VARIABLE INSURANCE FUND INC
- **DATE OF NAME CHANGE:** 19910505

## Series and Classes Contracts Data

### Balanced Portfolio (Series ID: S000004390)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000012146 | Balanced Portfolio |  |

### Money Market Portfolio (Series ID: S000004391)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000012147 | Money Market Portfolio |  |

### Real Estate Index Portfolio (Series ID: S000004392)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000012148 | Real Estate Index Portfolio |  |

### Short-Term Investment-Grade Portfolio (Series ID: S000004393)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000012149 | Short-Term Investment-Grade Portfolio |  |

### Small Company Growth Portfolio (Series ID: S000004394)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000012150 | Small Company Growth Portfolio |  |

### Total Bond Market Index Portfolio (Series ID: S000004395)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000012151 | Total Bond Market Index Portfolio |  |

### Total Stock Market Index Portfolio (Series ID: S000004396)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000012152 | Total Stock Market Index Portfolio |  |

### Capital Growth Portfolio (Series ID: S000004397)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000012153 | Capital Growth Portfolio |  |

### Diversified Value Portfolio (Series ID: S000004398)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000012154 | Diversified Value Portfolio |  |

### Equity Income Portfolio (Series ID: S000004399)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000012155 | Equity Income Portfolio |  |

### Equity Index Portfolio (Series ID: S000004400)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000012156 | Equity Index Portfolio |  |

### Growth Portfolio (Series ID: S000004401)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000012157 | Growth Portfolio |  |

### High-Yield Bond Portfolio (Series ID: S000004402)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000012158 | High-Yield Bond Portfolio |  |

### International Portfolio (Series ID: S000004403)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000012159 | International Portfolio |  |

### Mid-Cap Index Portfolio (Series ID: S000004404)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000012160 | Mid-Cap Index Portfolio |  |

### Conservative Allocation Portfolio (Series ID: S000033473)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000102905 | Conservative Allocation Portfolio |  |

### Moderate Allocation Portfolio (Series ID: S000033474)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000102906 | Moderate Allocation Portfolio |  |

### Global Bond Index Portfolio (Series ID: S000058615)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000192542 | Global Bond Index Portfolio |  |

### Total International Stock Market Index Portfolio (Series ID: S000058616)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000192543 | Total International Stock Market Index Portfolio |  |

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT** 

**OF** 

**REGISTERED MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number**: 811-05962**

---

| | |
|:---|:---|
| Name of Registrant: | **Vanguard **Variable Insurance** Funds** |
| Address of Registrant: | **P.O. Box 2600** |
|  | **Valley Forge, PA 19482** |

---

---

| | |
|:---|:---|
| **Name and address of agent for service:** | **Anne E. Robinson, Esquire** |
|  | **P.O. Box 876** |
|  | **Valley Forge, PA 19482** |

---

Registrant's telephone number, including area code: **(610) 669-1000**

Date of fiscal year end: December 31

Date of reporting period: January 1, 2022—December 31, 2022

**Item 1:** Reports to Shareholders

![](tm231735d7balaporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Balanced Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| Advisor's Report<br>| 2 |
| About Your Portfolio's Expenses<br>| 4 |
| Performance Summary<br>| 5 |
| Financial Statements<br>| 7 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Balanced Portfolio returned –14.30%, ahead of the
 –16.64% return of its composite benchmark.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which weighed on bond prices and increased fears of recession.

• Equity returns were negative across all portfolio sectors except energy and utilities. Even so, poor selection in energy detracted most from the portfolio's benchmark-relative performance. Consumer
discretionary stocks, buoyed by strong selection, made the largest contribution.

• Bond returns also fell, driven in part by security selection in investment-grade credit and overweighting of securitized sectors.

• Over the decade ended December 31, the portfolio's average annual return slightly lagged the 8.81% return of its composite benchmark.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take insurance-related
expenses into account.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

Advisor's Report

The Balanced Portfolio returned –14.30% for the 12 months ended December 31, 2022, outperforming the –16.64% return of its blended benchmark (a mix of 65% large-capitalization stocks and 35% high-quality corporate bonds). The stock and bond portions of the portfolio outperformed their benchmarks, the Standard & Poor's 500 Index and the Bloomberg U.S. Credit A or Better Bond Index, respectively.

#### The investment environment
Stock markets in the United States and abroad posted negative results for the year. The S&P 500 Index returned –18.11%, the MSCI World Index returned –17.73%, and the MSCI EAFE Index returned –14.45%.

Amid rising geopolitical instability, tighter monetary policy to address accelerating inflation, and fears about the global economic growth outlook, volatility rose sharply during the first quarter of 2022. Russia's large-scale military attack on Ukraine forced more than 4 million people to flee Ukraine as fighting intensified and living conditions deteriorated rapidly in many cities. Prices for natural gas, select grains, and metals surged, and Brent crude oil prices topped $100 per barrel amid expectations that economic sanctions would cripple Russian energy exports and restrict supplies of key commodities.

Risk sentiment plunged in the second quarter as investors grew increasingly concerned about the economic toll of persistent geopolitical instability, soaring inflation, rising interest rates, and constrained supply chains. Inflation remained elevated globally and energy prices continued to rise. These challenges continued into the third quarter, with the U.S. Federal Reserve hiking interest rates to rein in decades-high inflation. During the fourth quarter, stocks rallied and investor sentiment improved after softer-than-expected inflation in the U.S. and Europe fueled hopes that the Fed and the European Central Bank would begin to taper their pace of rate hikes. That

triggered significant declines in U.S. Treasury yields and the U.S. dollar.

For the full year, broad fixed income markets largely generated negative total returns, driven by rising U.S. Treasury yields. Government bond yields moved sharply higher following ongoing monetary policy tightening intentions in response to persistent inflation pressures. U.S. labor market strength persisted while housing market resilience was tested by surging mortgage rates, lack of inventory, and home price appreciation. Central banks across most developed markets indicated their hawkish intentions and expressed a willingness to keep policy in restrictive territory, even in the face of slower growth and weaker labor markets. The Bloomberg U.S. Aggregate Bond Index returned –13.01% during the 12 months, outperforming the higher-quality credit market as represented by the Bloomberg U.S. Credit A or Better Bond Index, which returned –14.64%. The yield on the 10-year U.S. Treasury note rose 236 basis points, ending the period at 3.87%. (A basis point is one hundredth of a percentage point.)

#### Our successes
In the stock portfolio, sector allocation contributed most to relative performance, driven by an underweight allocation to information technology and overweight allocations to health care and financials. Strong security selection in consumer discretionary, utilities, and industrials also contributed to relative performance. Strong individual contributors to investment performance were positions in Shell, Progressive, and Charles Schwab. Not holding certain stocks, most notably Tesla and NVIDIA, also helped relative returns.

In the fixed income portfolio, relative results benefited from duration and yield curve positioning, an underweight allocation to the 1- and 30-year portion of the yield curve as yields rose. An underweight allocation to credit spread duration also contributed.

#### Our shortfalls
In the stock portfolio, weak selection in the energy, communication services, and consumer staples sectors detracted from relative performance. Underweight allocations to materials and real estate and an overweight allocation to consumer discretionary stocks also dampened results. Top detractors included Meta Platforms and Marvell Tech. Not holding Exxon Mobil, Chevron, and Merck also detracted from relative returns.

In the fixed income portfolio, underperformance was primarily driven by security selection. Selection within investment-grade corporate bonds, particularly within financials (banking issuers) and industrials (consumer non-cyclical, technology, and communications) detracted most. Within non-corporate credit, security selection within taxable municipals (particularly revenue bonds) held back relative results.

An out-of-benchmark allocation to securitized sectors also detracted from relative returns, including agency mortgage-backed securities (MBS), asset-backed securities (ABS), and commercial mortgage-backed securities (CMBS).

#### Portfolio positioning
The range of potential outcomes is wide for the global economy and, therefore, for asset markets. On one hand, financial conditions have tightened considerably, causing economic growth to slow and inflation to begin to moderate. On the other hand, consumer spending and corporate earnings remain robust and have not yet experienced the significant slowdown central bankers are trying to engineer. We monitor the macro environment closely and direct most of our research efforts to company-specific analysis where we believe our most differentiated insights are likely to lie. Our focus remains on companies that can deliver resilient results across economic and market environments and on stock prices that trade at moderate valuations.

------

Over the year, we initiated new positions in ConocoPhilips, Honeywell, Glencore, and 15 other businesses. ConocoPhilips is a low-cost producer of oil and gas globally. We prefer Conoco over Total because of its U.S. domicile, where the risk of windfall tax and/or disruption around the Russia/Ukraine war is lower. Honeywell is a well-managed industrial conglomerate with concentrations in aerospace and building controls. We believe their long-term growth prospects are not fully reflected in its current valuation. Glencore is a low-cost producer of a range of metals, many of which will be necessary in the global energy transition away from combustible engine vehicles. We believe the supply side of metals production will remain constrained causing sustainably high metals prices.

Our largest sector overweights are to health care, consumer discretionary, and industrials. Conversely, our largest sector underweights are information technology, communication services, and real estate.

We remain committed to our investment philosophy and process to construct a portfolio of resilient businesses at reasonable valuations run by management teams that are likely to make value-enhancing decisions over the long-term. Our goal is for the portfolio to deliver a superior rate of economic growth over the long term and downside protection during difficult economic and market environments.

On the fixed income side, we maintain a modestly defensive stance in the portfolio. Market volatility has remained elevated because of sustained inflation pressures, the Fed engaging in an aggressive tightening agenda, continued COVID-19 impacts, and ongoing geopolitical risks. The Fed's hawkish stance at a time of slowing growth has pushed the recession narrative to the market's forefront, and the rapid pace of tightening by other central banks has raised concerns of global economic slowdown. The Treasury yield curve is reflective of recessionary expectations. During the 12-month period, the Fed responded to sustained inflation pressures with hawkish messaging in

conjunction with an aggressive tightening agenda and the start of quantitative tightening. While the substantially higher interest rate environment and growing growth concerns are likely to provide support for fixed income assets and greater downside protection going forward, we maintained a modest short duration position at year-end in light of recent interest rate volatility.

The fixed income portfolio maintains an out-of-benchmark allocation to U.S. governments and agency MBS as our liquidity buffer, which should provide downside protection for shareholders if the economic cycle or the equity portfolio takes an unfavorable turn. Although major central banks, including the Fed, will likely slow the pace of interest rate hikes from here, we expect they will continue to tighten in the near term and for interest rates to remain restrictive into a cyclical downturn, potentially resulting in global liquidity continuing to be drained. Given tight valuations and continued tail risks to markets, we maintain a robust liquidity profile using cash, U.S. government securities, and agency MBS.

The portfolio also holds out-of-benchmark allocations to the high-quality securitized sectors, such as traditional asset-backed securities, commercial mortgage-backed securities, and very modestly to collateral loan obligations and non-agency residential mortgages. We are more cautious on certain securitized sectors, and this has been an area of reduced exposure during the period as the portfolio has focused on more liquid areas of the fixed income markets.

Investment-grade credit fundamentals are strong but have likely peaked. While financial conditions have tightened meaningfully in 2022, we believe their impacts are only beginning to be felt. Corporate fundamentals have surprised to the upside in the past year, but they are likely to deteriorate in the quarters ahead as sustained inflation pressures margins and as demand possibly wanes. We expect the evolving macroeconomic landscape will result in more fundamental and performance dispersion, which should

create better security selection opportunities. Our primary focus on fundamentals will be the impact of persistent cost inflation (particularly labor) on free-cash-flow generation. We have reduced exposure to more cyclical issuers that we feel will have difficulty generating positive free cash flow in a recessionary environment and to issuers operating with more levered balance sheets that will be more substantially impacted by higher borrowing costs. We have also been more cautious on companies that are mostly directly exposed to commodity cost inflation. From a sector perspective, we have increased our positions in the utility sector and some parts of the insurance sector where we view valuations as attractive. In terms of non-corporate credit, we remain positive on taxable municipals, as we think this sector still provides diversification and a broad selection of high-quality issuers that have benefited from fiscal support, although the ongoing operational headwinds make us more cautious on the not-for-profit hospital sector. In terms of quality, we have reduced our exposure to the BBB-rated cohort of our market and remain focused on investing in companies with defensive operating profiles and balance sheets that will be able to weather a more difficult operating environment in 2023.

We continue to be disciplined in our application of our investment process, which allows us to create a balanced portfolio that we believe should perform well in a variety of environments. We remain focused on long-term, low-turnover investing—features that we believe will serve the portfolio's shareholders well over time.

Portfolio Managers:

Daniel J. Pozen,

Senior Managing Director and

Equity Portfolio Manager

Loren L. Moran, CFA,

Senior Managing Director and

Fixed Income Portfolio Manager

Wellington Management Company LLP

January 18, 2023

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1021.20 | &nbsp;&nbsp;&nbsp;&nbsp;$1.07 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.07 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.21%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Balanced Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7balaporti002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7balaporti003.jpg) | &nbsp;&nbsp;&nbsp;Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-14.30% | &nbsp;&nbsp;&nbsp;&nbsp;5.96% | &nbsp;&nbsp;&nbsp;&nbsp;8.41% | &nbsp;&nbsp;&nbsp;&nbsp;$22418 |
| ![](tm231735d7balaporti004.jpg) | &nbsp;&nbsp;&nbsp;Composite Stock/Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-16.64 | &nbsp;&nbsp;&nbsp;&nbsp;6.43 | &nbsp;&nbsp;&nbsp;&nbsp;8.81 | &nbsp;&nbsp;&nbsp;&nbsp;23256 |
| ![](tm231735d7balaporti005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

Composite Stock/Bond Index: Weighted 65% S&P 500 Index and 35% Bloomberg U.S. Credit A or Better Bond Index

See Financial Highlights for dividend and capital gains information.

------

Balanced Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Asset-Backed/Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;0.8% |
| Common Stocks | 66.0 |
| Corporate Bonds | 22.5 |
| Sovereign Bonds | &nbsp;&nbsp;&nbsp;0.3 |
| Taxable Municipal Bonds | &nbsp;&nbsp;&nbsp;1.5 |
| U.S. Government and Agency Obligations | &nbsp;&nbsp;&nbsp;8.9 |

---

The table reflects the portfolio's investments, except for short-term investments and derivatives. The agency and mortgage-backed securities may include issues from government-sponsored enterprises; such issues are generally not backed by the full faith and credit of the U.S. government.

------

Balanced Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value•  ($000) |
| **Common Stocks (65.4%)** | **Common Stocks (65.4%)** | **Common Stocks (65.4%)** | **Common Stocks (65.4%)** |
| **Communication Services (3.8%)** | **Communication Services (3.8%)** | **Communication Services (3.8%)** | **Communication Services (3.8%)** |
| \* | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;775904 | &nbsp;&nbsp;&nbsp;&nbsp;68458 |
| \* | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;253329 | &nbsp;&nbsp;&nbsp;&nbsp;30486 |
|  | &nbsp;&nbsp;&nbsp;Electronic Arts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;161764 | &nbsp;&nbsp;&nbsp;&nbsp;19764 |
| **** |  |  | **118708** |
| **Consumer Discretionary (7.8%)** | **Consumer Discretionary (7.8%)** | **Consumer Discretionary (7.8%)** | **Consumer Discretionary (7.8%)** |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;163397 | &nbsp;&nbsp;&nbsp;&nbsp;43060 |
| \* | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | &nbsp;&nbsp;&nbsp;&nbsp;506205 | &nbsp;&nbsp;&nbsp;&nbsp;42521 |
|  | &nbsp;&nbsp;&nbsp;TJX Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;460480 | &nbsp;&nbsp;&nbsp;&nbsp;36654 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;358503 | &nbsp;&nbsp;&nbsp;&nbsp;35564 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93712 | &nbsp;&nbsp;&nbsp;&nbsp;29600 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;112453 | &nbsp;&nbsp;&nbsp;&nbsp;13158 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;48539 | &nbsp;&nbsp;&nbsp;&nbsp;11953 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;105624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9559 |
| \* | &nbsp;&nbsp;&nbsp;Coupang Inc. | &nbsp;&nbsp;&nbsp;&nbsp;509163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7490 |
|  | &nbsp;&nbsp;&nbsp;DR Horton Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7274 |
|  | &nbsp;&nbsp;&nbsp;Ross Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6479 |
| **** |  |  | **243312** |
| **Consumer Staples (4.9%)** | **Consumer Staples (4.9%)** | **Consumer Staples (4.9%)** | **Consumer Staples (4.9%)** |
|  | &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;789008 | &nbsp;&nbsp;&nbsp;&nbsp;50189 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;297552 | &nbsp;&nbsp;&nbsp;&nbsp;45097 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;495275 | &nbsp;&nbsp;&nbsp;&nbsp;37864 |
|  | &nbsp;&nbsp;&nbsp;Nestle SA (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;188244 | &nbsp;&nbsp;&nbsp;&nbsp;21744 |
| **** |  |  | **154894** |
| **Energy (3.5%)** | **Energy (3.5%)** | **Energy (3.5%)** | **Energy (3.5%)** |
|  | &nbsp;&nbsp;&nbsp;Shell plc | 1388883 | &nbsp;&nbsp;&nbsp;&nbsp;39385 |
|  | &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;271586 | &nbsp;&nbsp;&nbsp;&nbsp;32047 |
|  | &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;620392 | &nbsp;&nbsp;&nbsp;&nbsp;12042 |
|  | &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. | &nbsp;&nbsp;&nbsp;&nbsp;30536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6974 |
|  | &nbsp;&nbsp;&nbsp;Chesapeake Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5133 |
|  | &nbsp;&nbsp;&nbsp;Coterra Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;202600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4978 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;143327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4849 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2548 |
|  | &nbsp;&nbsp;&nbsp;Shell plc (XLON) | &nbsp;&nbsp;&nbsp;&nbsp;62733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769 |
| **** |  |  | **109725** |
| **Financials (8.3%)** | **Financials (8.3%)** | **Financials (8.3%)** | **Financials (8.3%)** |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 1091519 | &nbsp;&nbsp;&nbsp;&nbsp;90880 |
|  | &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;380724 | &nbsp;&nbsp;&nbsp;&nbsp;49384 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;209185 | &nbsp;&nbsp;&nbsp;&nbsp;28052 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;317825 | &nbsp;&nbsp;&nbsp;&nbsp;27021 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26314 | &nbsp;&nbsp;&nbsp;&nbsp;18647 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54931 | &nbsp;&nbsp;&nbsp;&nbsp;18399 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;80279 | &nbsp;&nbsp;&nbsp;&nbsp;11861 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34185 | &nbsp;&nbsp;&nbsp;&nbsp;11738 |
|  | &nbsp;&nbsp;&nbsp;Blackstone Inc. | &nbsp;&nbsp;&nbsp;&nbsp;70763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5250 |
| **** |  |  | **261232** |
| **Health Care (12.2%)** | **Health Care (12.2%)** | **Health Care (12.2%)** | **Health Care (12.2%)** |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;103263 | &nbsp;&nbsp;&nbsp;&nbsp;54748 |
|  | &nbsp;&nbsp;&nbsp;HCA Healthcare Inc. | &nbsp;&nbsp;&nbsp;&nbsp;200401 | &nbsp;&nbsp;&nbsp;&nbsp;48088 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | &nbsp;&nbsp;&nbsp;&nbsp;892927 | &nbsp;&nbsp;&nbsp;&nbsp;45754 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81519 | &nbsp;&nbsp;&nbsp;&nbsp;41753 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc ADR | &nbsp;&nbsp;&nbsp;&nbsp;578045 | &nbsp;&nbsp;&nbsp;&nbsp;39192 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74920 | &nbsp;&nbsp;&nbsp;&nbsp;38432 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value•  ($000) |
|  | &nbsp;&nbsp;&nbsp;Novartis AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;409475 | &nbsp;&nbsp;&nbsp;&nbsp;37056 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | &nbsp;&nbsp;&nbsp;&nbsp;130894 | &nbsp;&nbsp;&nbsp;&nbsp;33286 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;72605 | &nbsp;&nbsp;&nbsp;&nbsp;19271 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;51146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9035 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;168138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8570 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8063 |
| **** |  |  | **383248** |
| **Industrials (6.9%)** | **Industrials (6.9%)** | **Industrials (6.9%)** | **Industrials (6.9%)** |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;341597 | &nbsp;&nbsp;&nbsp;&nbsp;34474 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;150655 | &nbsp;&nbsp;&nbsp;&nbsp;32285 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;69884 | &nbsp;&nbsp;&nbsp;&nbsp;29964 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | &nbsp;&nbsp;&nbsp;&nbsp;445294 | &nbsp;&nbsp;&nbsp;&nbsp;28499 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112643 | &nbsp;&nbsp;&nbsp;&nbsp;24815 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44136 | &nbsp;&nbsp;&nbsp;&nbsp;24081 |
|  | &nbsp;&nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;342258 | &nbsp;&nbsp;&nbsp;&nbsp;21990 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62653 | &nbsp;&nbsp;&nbsp;&nbsp;18232 |
|  | &nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;21158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2971 |
| **** |  |  | **217311** |
| **Information Technology (12.5%)** | **Information Technology (12.5%)** | **Information Technology (12.5%)** | **Information Technology (12.5%)** |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;575922 | &nbsp;&nbsp;&nbsp;&nbsp;138118 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | &nbsp;&nbsp;&nbsp;&nbsp;532220 | &nbsp;&nbsp;&nbsp;&nbsp;69151 |
|  | &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;262590 | &nbsp;&nbsp;&nbsp;&nbsp;43385 |
|  | &nbsp;&nbsp;&nbsp;Mastercard Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;75326 | &nbsp;&nbsp;&nbsp;&nbsp;26193 |
|  | &nbsp;&nbsp;&nbsp;Visa Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;121468 | &nbsp;&nbsp;&nbsp;&nbsp;25236 |
|  | &nbsp;&nbsp;&nbsp;Global Payments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;175443 | &nbsp;&nbsp;&nbsp;&nbsp;17425 |
|  | &nbsp;&nbsp;&nbsp;Accenture plc Class A | &nbsp;&nbsp;&nbsp;&nbsp;63201 | &nbsp;&nbsp;&nbsp;&nbsp;16865 |
|  | &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;221780 | &nbsp;&nbsp;&nbsp;&nbsp;16521 |
| \* | &nbsp;&nbsp;&nbsp;Salesforce Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80845 | &nbsp;&nbsp;&nbsp;&nbsp;10719 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;120101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8149 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;306414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8099 |
|  | &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7359 |
|  | &nbsp;&nbsp;&nbsp;Marvell Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;166478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6166 |
| **** |  |  | **393386** |
| **Materials (1.3%)** | **Materials (1.3%)** | **Materials (1.3%)** | **Materials (1.3%)** |
|  | &nbsp;&nbsp;&nbsp;Glencore plc | 4348978 | &nbsp;&nbsp;&nbsp;&nbsp;29002 |
|  | &nbsp;&nbsp;&nbsp;Anglo American plc | &nbsp;&nbsp;&nbsp;&nbsp;327415 | &nbsp;&nbsp;&nbsp;&nbsp;12821 |
| **** |  |  | **41823** |
| **Real Estate (1.3%)** | **Real Estate (1.3%)** | **Real Estate (1.3%)** | **Real Estate (1.3%)** |
|  | &nbsp;&nbsp;&nbsp;Welltower Inc. | &nbsp;&nbsp;&nbsp;&nbsp;204795 | &nbsp;&nbsp;&nbsp;&nbsp;13424 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;57154 | &nbsp;&nbsp;&nbsp;&nbsp;12109 |
|  | &nbsp;&nbsp;&nbsp;VICI Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;259482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8407 |
|  | &nbsp;&nbsp;&nbsp;Prologis Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5922 |
| **** |  |  | **39862** |
| **Utilities (2.9%)** | **Utilities (2.9%)** | **Utilities (2.9%)** | **Utilities (2.9%)** |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;347707 | &nbsp;&nbsp;&nbsp;&nbsp;35810 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;814415 | &nbsp;&nbsp;&nbsp;&nbsp;35207 |
|  | &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;201302 | &nbsp;&nbsp;&nbsp;&nbsp;17354 |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Market<br> Value•  ($000) |
| &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2028 |
|  |  | **90399** |
| **Total Common Stocks (Cost $1,663,491)** | **Total Common Stocks (Cost $1,663,491)** | **2053900** |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| **U.S. Government and Agency Obligations (8.8%)** | **U.S. Government and Agency Obligations (8.8%)** | **U.S. Government and Agency Obligations (8.8%)** | **U.S. Government and Agency Obligations (8.8%)** | **U.S. Government and Agency Obligations (8.8%)** | **U.S. Government and Agency Obligations (8.8%)** |
| **U.S. Government Securities (8.0%)** | **U.S. Government Securities (8.0%)** | **U.S. Government Securities (8.0%)** | **U.S. Government Securities (8.0%)** | **U.S. Government Securities (8.0%)** | **U.S. Government Securities (8.0%)** |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 6/30/24 | 9215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8832 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 9/15/24 | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1118 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 9/30/24 | 5600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5571 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 10/15/24 | 21375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19956 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 10/31/24 | 3350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3173 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 10/31/24 | &nbsp;&nbsp; 7020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6999 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 11/30/24 | 6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6701 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.000% | 12/15/24 | 5350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5006 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 1/15/25 | 8600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8045 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 2/28/25 | 6395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5968 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 3/15/25 | 9980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9426 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 4/15/25 | 10390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9995 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 5/31/25 | 4850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4400 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 7/31/25 | 5655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5102 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/15/25 | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17474 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 8/31/25 | 4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4315 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.500% | 9/15/25 | 3760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3684 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 10/15/25 | 2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2798 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 10/31/25 | 22365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19996 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 1/31/26 | &nbsp;&nbsp; 7010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6234 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 2/28/26 | 2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1871 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 3/31/26 | 1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1210 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 3/31/27 | 4664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4376 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 7/31/27 | 11552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10927 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 9/30/27 | 13477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13524 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 10/31/27 | 10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10235 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 11/30/27 | 2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2386 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 9/30/29 | &nbsp;&nbsp; 744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 738 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 10/31/29 | 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5001 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/15/32 | 1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1114 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 11/15/32 | 2850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2907 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 11/15/41 | 20500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14654 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.250% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 688 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.375% | 8/15/42 | 20134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18001 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 11/15/42 | 4249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4164 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 565 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 752 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211 |
|  |  |  |  |  | **251650** |
| **Conventional Mortgage-Backed Securities (0.7%)** | **Conventional Mortgage-Backed Securities (0.7%)** | **Conventional Mortgage-Backed Securities (0.7%)** | **Conventional Mortgage-Backed Securities (0.7%)** | **Conventional Mortgage-Backed Securities (0.7%)** | **Conventional Mortgage-Backed Securities (0.7%)** |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 1.770% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 7.000% | 11/15/31 -<br> 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 8.000% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 2.500% | 4/1/37 -<br> 4/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
| <sup>2,3,4</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 3.500% | 2/25/49 | 2675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2435 |
| <sup>2,3,4</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 4.000% | 1/12/53 | 10320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9699 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 4.500% | 5/1/52 -<br> 11/1/52 | 3923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3790 |
| <sup>2,3,4</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 5.000% | 1/12/53 | 4830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4763 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp; **21777** |
| **Nonconventional Mortgage-Backed Securities (0.1%)** | **Nonconventional Mortgage-Backed Securities (0.1%)** | **Nonconventional Mortgage-Backed Securities (0.1%)** | **Nonconventional Mortgage-Backed Securities (0.1%)** | **Nonconventional Mortgage-Backed Securities (0.1%)** | **Nonconventional Mortgage-Backed Securities (0.1%)** |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae REMICS | 1.500% | 8/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae REMICS | 1.700% | 6/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae REMICS | 2.000% | 6/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae REMICS | 2.500% | 8/25/46 | &nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae REMICS | 3.000% | 12/25/39 -<br> 9/25/57 | 1237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1106 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae REMICS | 3.500% | 4/25/31 -<br> 11/25/57 | 2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1944 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae REMICS | 4.000% | 7/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac REMICS | 3.000% | 6/15/44 -<br> 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac REMICS | 3.500% | 3/15/31 -<br> 10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 236 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac REMICS | 4.000% | 12/15/30 -<br> 2/15/31 | &nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 1.700% | 10/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
|  |  |  |  |  | **4226** |
| **Total U.S. Government and Agency Obligations (Cost $296,687)** | **Total U.S. Government and Agency Obligations (Cost $296,687)** | **Total U.S. Government and Agency Obligations (Cost $296,687)** | **Total U.S. Government and Agency Obligations (Cost $296,687)** | **Total U.S. Government and Agency Obligations (Cost $296,687)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**277653** |
| **Asset-Backed/Commercial Mortgage-Backed Securities (0.8%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (0.8%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (0.8%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (0.8%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (0.8%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (0.8%)** |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Aaset Trust Class A Series 2019-1 | 3.844% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust Class A Series 2021-B | 1.030% | 8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 485 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust Class A Series 2021-Z1 | 1.070% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust Class A Series 2021-Z2 | 1.170% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Aligned Data Centers Issuer LLC Class A2 Series 2021-1A | 1.937% | 8/15/46 | 1260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1077 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;American Tower Trust #1 Class 2A Series 13 | 3.070% | 3/15/48 | 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1094 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust Class A1 Series 2019-5 | 2.593% | 10/25/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust Class A1 Series 2019-6 | 2.620% | 11/25/59 | &nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust Class A1 Series 2021-6 | 1.458% | 9/25/66 | &nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 564 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust I LLC Class A1 Series 2019-4 | 2.993% | 7/26/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust Class A Series 2021-VOLT, 1M USD LIBOR + 0.700% | 5.018% | 9/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 837 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;BX Trust Class A Series 2021-ARIA, 1M USD LIBOR + 0.899% | 5.217% | 10/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;BXHPP Trust Class A Series 2021-FILM, 1M USD LIBOR + 0.650% | 4.968% | 8/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;BXHPP Trust Class B Series 2021-FILM, 1M USD LIBOR + 0.900% | 5.128% | 8/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Castlelake Aircraft Structured Trust Class A Series 2019-1A | 3.967% | 4/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;CF Hippolyta LLC Class A1 Series 2021-A1 | 1.530% | 3/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 614 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;DB Master Finance LLC Class A2II Series 2019-1A | 4.021% | 5/20/49 | &nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Domino's Pizza Master Issuer LLC Class A2I Series 2021-1A | 2.662% | 4/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Domino's Pizza Master Issuer LLC Class A2II Series 2021-1A | 3.151% | 4/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 585 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing LLC Class A2 Series 2019-2 | 2.290% | 2/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing LLC Class A2 Series 2019-3 | 2.060% | 5/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| <sup>2,3,6</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Connecticut Avenue Securities Class 2M2 Series 2016-C03, 1M USD LIBOR + 5.900% | 10.289% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates Class A3 Series K-1512 | 3.059% | 4/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;FirstKey Homes Trust Class A Series 2021-SFR1 | 1.538% | 8/17/38 | 1872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1611 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1521 | 2.184% | 8/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K1513 | 2.797% | 8/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248 |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Home Partners of America Trust Class A Series 2021-2 | 1.901% | 12/17/26 | 1027 | &nbsp;&nbsp; 880 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Horizon Aircraft Finance II Ltd. Class A Series 2019-1 | 3.721% | 7/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp; 209 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Horizon Aircraft Finance III Ltd. Class A Series 2019-2 | 3.425% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp; 223 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;Life Mortgage Trust Class A Series 2021-BMR, 1M USD LIBOR + 0.700% | 5.018% | 3/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 281 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;MACH 1 Cayman Ltd. Class A Series 2019-1 | 3.474% | 10/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp; 214 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;Madison Park Funding XIII Ltd. Class AR2 Series 2014-13A, 3M USD LIBOR + 0.950% | 5.177% | 4/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;878 | &nbsp;&nbsp; 868 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;Magnetite VII Ltd. Class A1R2 Series 2012-7A, 3M USD LIBOR + 0.800% | 4.879% | 1/15/28 | 1460 | &nbsp;&nbsp; 1444 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;MAPS Ltd. Class A Series 2019-1A | 4.458% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp; 117 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Mercury Financial Credit Card Master Trust Class A Series 2021-1A | 1.540% | 3/20/26 | 1005 | &nbsp;&nbsp; 958 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;New Economy Assets Phase 1 Sponsor LLC Class A1 Series 2021-1 | 1.910% | 10/20/61 | 2875 | &nbsp;&nbsp; 2429 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;New Economy Assets Phase 1 Sponsor LLC Class B1 Series 2021-1 | 2.410% | 10/20/61 | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 246 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;OneMain Direct Auto Receivables Trust Class A Series 2021-1A | 0.870% | 7/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 806 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Seasoned Credit Risk Transfer Trust Class MA Series 2019-3 | 3.500% | 10/25/58 | &nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp; 703 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;SFAVE Commercial Mortgage Securities Trust Class A2B Series 2015-5AVE | 4.144% | &nbsp;&nbsp;&nbsp;&nbsp;1/5/43 | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 494 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program Trust Class AFX Series 2021-B | 1.140% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp; 364 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;START Ireland Class A Series 2019-1 | 4.089% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp; 244 |
| <sup>2,5,6</sup> | &nbsp;&nbsp;&nbsp;Symphony CLO XIV Ltd. Class AR Series 2014-14A, 3M USD LIBOR + 0.950% | 4.961% | 7/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp; 43 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Taco Bell Funding LLC Class A2I Series 2021-1A | 1.946% | 8/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;564 | &nbsp;&nbsp; 475 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Taco Bell Funding LLC Class A2II Series 2021-1A | 2.294% | 8/25/51 | 1040 | &nbsp;&nbsp; 834 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Vantage Data Centers Issuer LLC Class A2 Series 2019-1A | 3.188% | 7/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp; 298 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Vantage Data Centers Issuer LLC Class A2 Series 2021-1A | 2.165% | 10/15/46 | 1405 | &nbsp;&nbsp; 1208 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Vantage Data Centers LLC Class A2 Series 2020-1A | 1.645% | 9/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp; 751 |
| **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $28,206)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $28,206)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $28,206)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $28,206)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $28,206)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24725** |
| **Corporate Bonds (22.3%)** | **Corporate Bonds (22.3%)** | **Corporate Bonds (22.3%)** | **Corporate Bonds (22.3%)** | **Corporate Bonds (22.3%)** | **Corporate Bonds (22.3%)** |
| **Communications (1.4%)** | **Communications (1.4%)** | **Communications (1.4%)** | **Communications (1.4%)** | **Communications (1.4%)** | **Communications (1.4%)** |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 3.625% | 4/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp; 710 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 6.125% | 3/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 403 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | 1305 | &nbsp;&nbsp; 1084 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.300% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.500% | 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp; 609 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;747 | &nbsp;&nbsp; 521 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.375% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 132 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.250% | 1/15/33 | 1032 | &nbsp;&nbsp; 972 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.200% | 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp; 674 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 5.650% | 6/15/35 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.400% | 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;&nbsp; 815 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 6.500% | 11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp; 27 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.969% | 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp; 202 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 278 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.999% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 479 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.887% | 11/1/51 | 1520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 984 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.450% | 8/15/52 | 1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 606 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.049% | 11/1/52 | 2279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1834 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.937% | 11/1/56 | 5619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3524 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.650% | 8/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 351 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.987% | 11/1/63 | 2321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1413 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Cox Communications Inc. | 3.150% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Cox Communications Inc. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | 1540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1366 |
|  | &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 4.125% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.625% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 4.000% | 9/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323 |
|  | &nbsp;&nbsp;&nbsp;NBCUniversal Media LLC | 4.450% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;NBN Co. Ltd. | 1.625% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;NBN Co. Ltd. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/31 | 1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 880 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;NBN Co. Ltd. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/32 | 2179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1692 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;NTT Finance Corp. | 1.162% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/26 | 1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 920 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;NTT Finance Corp. | 2.065% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Ooredoo International Finance Ltd. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/31 | &nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 624 |
|  | &nbsp;&nbsp;&nbsp;Orange SA | 9.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;SK Telecom Co. Ltd. | 3.750% | 4/16/23 | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Sky Ltd. | 3.750% | 9/16/24 | 1435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1401 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC | 4.738% | 9/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 722 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 5.213% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/47 | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 396 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 5.520% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 594 |
|  | &nbsp;&nbsp;&nbsp;Time Warner Cable Enterprises LLC | 8.375% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.050% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 774 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.875% | 4/15/30 | 1684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1529 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.550% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.250% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 4.375% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 4.500% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 |
|  | &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 4.375% | 8/16/41 | &nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.329% | 9/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.355% | 3/15/32 | 2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1903 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.812% | 3/15/39 | 2406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2213 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.750% | 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.987% | 10/30/56 | &nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | 2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2183 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.650% | 1/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.500% | 5/13/40 | 1490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1202 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 4.750% | 9/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.600% | 1/13/51 | 3851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2953 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.800% | 5/13/60 | &nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Warnermedia Holdings Inc. | 4.054% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 |
|  |  |  |  |  | **44583** |
| **Consumer Discretionary (1.0%)** | **Consumer Discretionary (1.0%)** | **Consumer Discretionary (1.0%)** | **Consumer Discretionary (1.0%)** | **Consumer Discretionary (1.0%)** | **Consumer Discretionary (1.0%)** |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.800% | 8/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.600% | 4/13/32 | 2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2110 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.800% | 12/5/34 | &nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 995 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.950% | 12/5/44 | &nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.950% | 4/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.250% | 8/22/57 | 1335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1158 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.000% | 3/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 713 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BMW US Capital LLC | 2.250% | 9/15/23 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2451 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BMW US Capital LLC | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BMW US Capital LLC | 1.250% | 8/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 735 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke University | 2.832% | 10/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 |
|  | &nbsp;&nbsp;&nbsp;Emory University | 2.143% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;ERAC USA Finance LLC | 7.000% | 10/15/37 | 1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1253 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;ERAC USA Finance LLC | 5.625% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;ERAC USA Finance LLC | 4.500% | 2/15/45 | 1669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1366 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.950% | 4/13/24 | 1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1539 |
|  | &nbsp;&nbsp;&nbsp;Georgetown University | 4.315% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Georgetown University | 2.943% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.900% | 12/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.700% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.250% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.500% | 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 563 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.300% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 658 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.400% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/46 | 1332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.500% | 12/6/48 | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.125% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.375% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.750% | 9/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.625% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.950% | 9/15/52 | 1215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1174 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Hyundai Capital America | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/23 | 2415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2387 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Hyundai Capital America | 0.875% | 6/14/24 | 1875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1750 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Hyundai Capital America | 1.650% | 9/17/26 | 1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 918 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Johns Hopkins University | 4.083% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Johns Hopkins University | 2.813% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 715 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 6.500% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.250% | 6/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Northeastern University | 2.894% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Thomas Jefferson University | 3.847% | 11/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Chicago | 2.761% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;University of Miami | 4.063% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361 |
|  | &nbsp;&nbsp;&nbsp;VF Corp. | 2.800% | 4/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 |
|  | &nbsp;&nbsp;&nbsp;VF Corp. | 2.950% | 4/23/30 | 1320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1098 |
|  |  |  |  |  | **32112** |
| **Consumer Staples (1.0%)** | **Consumer Staples (1.0%)** | **Consumer Staples (1.0%)** | **Consumer Staples (1.0%)** | **Consumer Staples (1.0%)** | **Consumer Staples (1.0%)** |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/43 | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | 1290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1216 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/46 | 1995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1826 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.375% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 488 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.950% | 1/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | 1369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1210 |
|  | &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 4.500% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 885 |
|  | &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.557% | 8/15/27 | 1875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1707 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Cargill Inc. | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 686 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Cargill Inc. | 2.125% | 4/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Cargill Inc. | 4.760% | 11/23/45 | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 580 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;CK Hutchison International 20 Ltd. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/50 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners plc | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 832 |
|  | &nbsp;&nbsp;&nbsp;Colgate Palmolive Co. | 7.600% | 5/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511 |
|  | &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 4.600% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 1.375% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287 |
|  | &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 5.300% | 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Danone SA | 2.947% | 11/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 684 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 2.625% | 4/29/23 | 1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1218 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 2.375% | 10/24/29 | 6156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5260 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 2.000% | 4/29/30 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 2.375% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Kroger Co. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 |
|  | &nbsp;&nbsp;&nbsp;Kroger Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533 |
|  | &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. | 2.500% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. | 3.000% | 7/15/26 | 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1671 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.375% | 10/6/26 | 1945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1812 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/6/23 | 1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1145 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.600% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 613 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.375% | 8/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.125% | 11/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.625% | 11/17/29 | 1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1181 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.750% | 11/17/32 | 1470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1504 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 4.875% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Sigma Alimentos SA de CV | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 484 |
|  |  |  |  |  | **30090** |
| **Energy (1.1%)** | **Energy (1.1%)** | **Energy (1.1%)** | **Energy (1.1%)** | **Energy (1.1%)** | **Energy (1.1%)** |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 1.749% | 8/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 2.721% | 1/12/32 | 3210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2687 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 2.772% | 11/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 2.939% | &nbsp;&nbsp;&nbsp;&nbsp;6/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 611 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.001% | 3/17/52 | 1530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1019 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.379% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/61 | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 3.000% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 506 |
|  | &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 4.800% | 11/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 4.600% | 12/15/44 | 1603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1317 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;EIG Pearl Holdings Sarl | 3.545% | 8/31/36 | 1260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1058 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;EIG Pearl Holdings Sarl | 4.387% | 11/30/46 | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.250% | 4/15/29 | 1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1333 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.350% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.300% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.400% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 5.100% | 2/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.250% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 589 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.700% | 1/31/51 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.300% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 501 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 2.450% | 1/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 2.650% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 351 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 631 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.250% | 11/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 639 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/30 | 2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2113 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 2.375% | 5/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.726% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.043% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.275% | 8/16/26 | 1070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 991 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.440% | 8/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.610% | 10/15/30 | 1055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 921 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 4.114% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Galaxy Pipeline Assets Bidco Ltd. | 2.160% | 3/31/34 | 1341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1139 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Galaxy Pipeline Assets Bidco Ltd. | 2.940% | 9/30/40 | 1087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 875 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;QatarEnergy Trading LLC | 2.250% | 7/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 767 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;QatarEnergy Trading LLC | 3.125% | 7/12/41 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Saudi Arabian Oil Co. | 3.500% | 4/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 578 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Schlumberger Holdings Corp. | 3.900% | 5/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 754 |
|  | &nbsp;&nbsp;&nbsp;Schlumberger Investment SA | 3.650% | 12/1/23 | 1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1106 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.125% | 5/11/35 | 1130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1046 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 5.500% | 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.375% | 5/11/45 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2190 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.000% | 11/26/51 | 2255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1535 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 5.950% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497 |
|  | &nbsp;&nbsp;&nbsp;Total Capital International SA | 2.700% | 1/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 884 |
|  | &nbsp;&nbsp;&nbsp;Total Capital International SA | 3.750% | 4/10/24 | 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1382 |
|  | &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.875% | 1/15/26 | 1255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1249 |
|  | &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.100% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380 |
|  |  |  |  |  | **34672** |
| **Financials (9.2%)** | **Financials (9.2%)** | **Financials (9.2%)** | **Financials (9.2%)** | **Financials (9.2%)** | **Financials (9.2%)** |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.000% | 10/29/28 | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 403 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.400% | 10/29/33 | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;AIA Group Ltd. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/29 | 1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1347 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;AIA Group Ltd. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.800% | 7/10/45 | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233 |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp; 572 |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.375% | 6/30/50 | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | 4.500% | 5/13/32 | &nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 324 |
|  | &nbsp;&nbsp;&nbsp;Aon Corp. / Aon Global Holdings plc | 2.850% | 5/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 504 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Athene Global Funding | 1.000% | 4/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp; 641 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Athene Global Funding | 1.985% | 8/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 8 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Athene Global Funding | 2.717% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp; 810 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd. | 2.570% | 11/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp; 503 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Aviation Capital Group LLC | 1.950% | 9/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp; 351 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 3.125% | 2/23/23 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 798 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 3.848% | 4/12/23 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 398 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 1.849% | 3/25/26 | 1000 | &nbsp;&nbsp; 888 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 2.749% | 12/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 2.958% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.559% | 4/23/27 | 2450 | &nbsp;&nbsp; 2296 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.593% | 7/21/28 | 1025 | &nbsp;&nbsp; 944 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.419% | 12/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp; 464 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.271% | 7/23/29 | 4780 | &nbsp;&nbsp; 4465 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.974% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/30 | 1895 | &nbsp;&nbsp; 1721 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.194% | 7/23/30 | 1055 | &nbsp;&nbsp; 908 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.496% | 2/13/31 | 1495 | &nbsp;&nbsp;&nbsp; 1215 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.572% | 10/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp; 384 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.571% | 4/27/33 | &nbsp;&nbsp; 2746 | &nbsp;&nbsp;&nbsp; 2516 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.846% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/37 | 1700 | &nbsp;&nbsp; 1406 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/42 | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 263 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.311% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp; 640 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 5.000% | 1/21/44 | 1000 | &nbsp;&nbsp;&nbsp; 918 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.330% | 3/15/50 | 2235 | &nbsp;&nbsp; 1838 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.972% | 7/21/52 | 1225 | &nbsp;&nbsp; 773 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.200% | 8/16/23 | &nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 452 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.000% | 2/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp; 694 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 5.834% | 10/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp; 420 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/26 | 1825 | &nbsp;&nbsp; 1690 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 321 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Banque Federative du Credit Mutuel SA | 1.604% | 10/4/26 | 1000 | &nbsp;&nbsp; 870 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 3.932% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/25 | 1565 | &nbsp;&nbsp;&nbsp; 1517 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 2.852% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/26 | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 2.279% | 11/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 347 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 2.667% | 3/10/32 | 1270 | &nbsp;&nbsp; 971 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 2.894% | 11/24/32 | 1300 | &nbsp;&nbsp; 989 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 3.330% | 11/24/42 | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp; 320 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Barclays plc, 3M USD LIBOR + 1.380% | 6.024% | 5/16/24 | 1005 | &nbsp;&nbsp; 1003 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 2.875% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 260 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Inc. | 3.125% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp; 686 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | 2.100% | 2/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp; 589 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Blackstone Holdings Finance Co. LLC | 2.550% | 3/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp; 470 |
|  | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/23 | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 190 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 3.800% | 1/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp; 575 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/9/25 | 1775 | &nbsp;&nbsp;&nbsp; 1710 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 2.819% | 11/19/25 | 1335 | &nbsp;&nbsp; 1263 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 1.323% | 1/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp; 511 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 3.500% | 11/16/27 | 2050 | &nbsp;&nbsp; 1879 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 2.591% | 1/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp; 779 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 2.159% | 9/15/29 | 1943 | &nbsp;&nbsp; 1585 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 2.871% | 4/19/32 | &nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp; 661 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BPCE SA | 5.700% | 10/22/23 | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 268 |
|  | &nbsp;&nbsp;&nbsp;BPCE SA | 4.000% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp; 762 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BPCE SA | 5.150% | 7/21/24 | 1260 | &nbsp;&nbsp; 1236 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BPCE SA | 3.500% | 10/23/27 | 1780 | &nbsp;&nbsp; 1597 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BPCE SA | 2.700% | 10/1/29 | 1450 | &nbsp;&nbsp;&nbsp; 1213 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Brighthouse Financial Global Funding | 1.000% | 4/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 61 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Brighthouse Financial Global Funding | 1.750% | 1/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp; 465 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Brighthouse Financial Global Funding | 1.550% | 5/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 462 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Brighthouse Financial Global Funding | 2.000% | 6/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp; 430 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/26 | 1005 | &nbsp;&nbsp; 884 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.750% | 4/24/24 | 1305 | &nbsp;&nbsp; 1281 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp; 732 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 0.750% | 3/18/24 | 1350 | &nbsp;&nbsp; 1283 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp; 513 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 2.000% | 3/20/28 | 1100 | &nbsp;&nbsp; 965 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/32 | &nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp; 744 |
|  | &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.350% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp; 543 |
|  | &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 4.350% | 11/3/45 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 694 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 0.981% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | 1190 | &nbsp;&nbsp;&nbsp; 1114 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 1.462% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/27 | 1325 | &nbsp;&nbsp;&nbsp; 1150 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.070% | 2/24/28 | 1000 | &nbsp;&nbsp; 902 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.520% | 10/27/28 | 1975 | &nbsp;&nbsp; 1799 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.878% | 1/24/39 | 1025 | &nbsp;&nbsp; 848 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.904% | 11/3/42 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 390 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;CNO Global Funding | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 241 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;CNO Global Funding | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp; 314 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia | 2.688% | 3/11/31 | 2285 | &nbsp;&nbsp; 1757 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia | 3.784% | 3/14/32 | 1927 | &nbsp;&nbsp; 1583 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 1.106% | 2/24/27 | 1365 | &nbsp;&nbsp;&nbsp; 1189 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 4.655% | 8/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 840 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/32 | 1810 | &nbsp;&nbsp; 1585 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/42 | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 86 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/52 | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp; 251 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Credit Agricole SA | 3.750% | 4/24/23 | 1160 | &nbsp;&nbsp;&nbsp; 1154 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Credit Agricole SA | 3.250% | 10/4/24 | 2390 | &nbsp;&nbsp; 2303 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 3.750% | 3/26/25 | 3470 | &nbsp;&nbsp;&nbsp; 3134 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 1.305% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp; 434 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 3.091% | 5/14/32 | 1195 | &nbsp;&nbsp; 830 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 6.537% | 8/12/33 | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp; 865 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Danske Bank A/S | 3.875% | 9/12/23 | 1220 | &nbsp;&nbsp; 1204 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Danske Bank A/S | 5.375% | 1/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp; 791 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Danske Bank A/S | 1.621% | 9/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp; 752 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Danske Bank A/S | 1.549% | 9/10/27 | 1605 | &nbsp;&nbsp; 1373 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;DNB Bank ASA | 1.535% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp; 836 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;DNB Bank ASA | 1.605% | 3/30/28 | 1330 | &nbsp;&nbsp;&nbsp; 1125 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Equitable Financial Life Global Funding | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 336 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Equitable Financial Life Global Funding | 1.300% | 7/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp; 716 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Equitable Financial Life Global Funding | 1.700% | 11/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp; 320 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Equitable Financial Life Global Funding | 1.400% | 8/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp; 448 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Equitable Financial Life Global Funding | 1.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/28 | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp; 725 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 4.055% | 4/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 309 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 4.337% | 4/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bank NA | 3.850% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;830 | &nbsp;&nbsp; 792 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Five Corners Funding Trust | 4.419% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 208 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;GA Global Funding Trust | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 703 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.625% | 1/22/23 | 1980 | &nbsp;&nbsp; 1978 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.272% | 9/29/25 | 1205 | &nbsp;&nbsp;&nbsp; 1159 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | 11/16/26 | 2000 | &nbsp;&nbsp; 1879 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.850% | 1/26/27 | &nbsp;&nbsp; 740 | &nbsp;&nbsp; 705 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.431% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/27 | 2190 | &nbsp;&nbsp;&nbsp; 1916 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.542% | 9/10/27 | 1165 | &nbsp;&nbsp; 1006 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.691% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp; 752 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.814% | 4/23/29 | 3065 | &nbsp;&nbsp; 2789 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.223% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | 2630 | &nbsp;&nbsp; 2450 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.800% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 2.615% | 4/22/32 | 3130 | &nbsp;&nbsp; 2494 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 2.383% | 7/21/32 | 1040 | &nbsp;&nbsp; 806 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 2.650% | 10/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 493 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.102% | 2/24/33 | 2541 | &nbsp;&nbsp; 2072 |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 6.750% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp; 889 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Guardian Life Global Funding | 1.250% | 5/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 181 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.600% | 5/25/23 | 1600 | &nbsp;&nbsp; 1591 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 0.976% | 5/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 1.589% | 5/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp; 694 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.251% | 11/22/27 | 2165 | &nbsp;&nbsp; 1875 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.041% | 3/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp; 821 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.390% | 11/3/28 | 1340 | &nbsp;&nbsp; 1406 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.583% | 6/19/29 | 1675 | &nbsp;&nbsp; 1540 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.206% | 8/17/29 | 1440 | &nbsp;&nbsp;&nbsp; 1163 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.357% | 8/18/31 | 1625 | &nbsp;&nbsp; 1245 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.804% | 5/24/32 | 1555 | &nbsp;&nbsp; 1200 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.871% | 11/22/32 | 2125 | &nbsp;&nbsp; 1627 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/36 | 1000 | &nbsp;&nbsp; 1007 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 6.100% | 1/14/42 | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 392 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 5.250% | 3/14/44 | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp; 373 |
|  | &nbsp;&nbsp;&nbsp;Huntington National Bank | 4.552% | 5/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 309 |
|  | &nbsp;&nbsp;&nbsp;ING Groep NV | 3.950% | 3/29/27 | 2695 | &nbsp;&nbsp; 2542 |
|  | &nbsp;&nbsp;&nbsp;ING Groep NV | 1.726% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 440 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.000% | 9/15/27 | 3545 | &nbsp;&nbsp; 3425 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.350% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 1.850% | 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.600% | 3/15/33 | 1140 | &nbsp;&nbsp; 1093 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 2.650% | 9/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.000% | 6/15/50 | &nbsp;&nbsp; 1010 | &nbsp;&nbsp;&nbsp; 676 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.950% | 6/15/52 | 2135 | &nbsp;&nbsp; 1981 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.000% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 530 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JAB Holdings BV | 2.200% | 11/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JAB Holdings BV | 3.750% | 5/28/51 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 296 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JAB Holdings BV | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/52 | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp; 584 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Jackson National Life Global Funding | 1.750% | 1/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp; 515 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp; 488 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 791 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.900% | 7/15/25 | 2270 | &nbsp;&nbsp; 2221 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.069% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp; 740 | &nbsp;&nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.452% | 12/5/29 | 2100 | &nbsp;&nbsp;&nbsp; 1974 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.702% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/30 | 2525 | &nbsp;&nbsp; 2260 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.912% | 7/25/33 | 5633 | &nbsp;&nbsp; 5359 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.109% | 4/22/41 | &nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp; 606 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/42 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 737 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.157% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 407 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.964% | 11/15/48 | 6150 | &nbsp;&nbsp;&nbsp; 4815 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.109% | 4/22/51 | &nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp; 561 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Liberty Mutual Group Inc. | 4.250% | 6/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 79 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Liberty Mutual Group Inc. | 4.569% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 262 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Liberty Mutual Group Inc. | 5.500% | 6/15/52 | 1709 | &nbsp;&nbsp; 1533 |
|  | &nbsp;&nbsp;&nbsp;Loews Corp. | 2.625% | 5/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp; 436 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;LSEGA Financing plc | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/26 | 1555 | &nbsp;&nbsp; 1371 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;LSEGA Financing plc | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 537 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;LSEGA Financing plc | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/31 | &nbsp;&nbsp; 1110 | &nbsp;&nbsp;&nbsp; 917 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Macquarie Group Ltd. | 4.150% | 3/27/24 | 1375 | &nbsp;&nbsp; 1369 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Macquarie Group Ltd. | 1.935% | 4/14/28 | 1245 | &nbsp;&nbsp; 1048 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Macquarie Group Ltd. | 2.871% | 1/14/33 | &nbsp;&nbsp; 1740 | &nbsp;&nbsp; 1333 |
|  | &nbsp;&nbsp;&nbsp;Manufacturers & Traders Trust Co. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp; 656 |
|  | &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 4.375% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 652 |
|  | &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 4.900% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 2.900% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 360 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Massachusetts Mutual Life Insurance Co. | 7.625% | 11/15/23 | 1000 | &nbsp;&nbsp;&nbsp; 1013 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Massachusetts Mutual Life Insurance Co. | 3.200% | 12/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp; 362 |
|  | &nbsp;&nbsp;&nbsp;MetLife Inc. | 3.600% | 4/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp; 570 |
|  | &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.125% | 8/13/42 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.875% | 11/13/43 | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp; 493 |
|  | &nbsp;&nbsp;&nbsp;MetLife Inc. | 5.000% | 7/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp; 371 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Metropolitan Life Global Funding I | 3.450% | 12/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp; 599 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Metropolitan Life Global Funding I | 4.400% | 6/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 291 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Metropolitan Life Global Funding I | 3.000% | 9/19/27 | 1165 | &nbsp;&nbsp; 1058 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Metropolitan Life Global Funding I | 4.300% | 8/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp; 417 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Metropolitan Life Global Funding I | 2.400% | 1/11/32 | 1410 | &nbsp;&nbsp;&nbsp; 1137 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 5.017% | 7/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp; 796 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.700% | 10/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 733 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.720% | 7/22/25 | 1750 | &nbsp;&nbsp;&nbsp; 1674 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.630% | 2/18/26 | 1805 | &nbsp;&nbsp; 1696 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.125% | 7/27/26 | 1345 | &nbsp;&nbsp; 1255 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/26 | 3000 | &nbsp;&nbsp;&nbsp; 3124 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.625% | 1/20/27 | 1250 | &nbsp;&nbsp; 1180 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.772% | 1/24/29 | 3910 | &nbsp;&nbsp; 3579 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.699% | 1/22/31 | 1105 | &nbsp;&nbsp;&nbsp; 914 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.239% | 7/21/32 | 1805 | &nbsp;&nbsp; 1383 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.511% | 10/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp; 481 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.943% | 1/21/33 | &nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp; 746 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.889% | 7/20/33 | 2891 | &nbsp;&nbsp;&nbsp; 2715 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.484% | 9/16/36 | 1475 | &nbsp;&nbsp;&nbsp; 1076 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 5.297% | 4/20/37 | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.300% | 1/27/45 | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 723 |
|  | &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/52 | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp; 413 |
|  | &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 3.905% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp; 848 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 2.332% | 8/21/30 | 2140 | &nbsp;&nbsp; 1625 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 2.990% | 5/21/31 | 2227 | &nbsp;&nbsp;&nbsp; 1747 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 3.347% | 1/12/37 | 1252 | &nbsp;&nbsp; 955 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;National Securities Clearing Corp. | 5.100% | 11/21/27 | 1565 | &nbsp;&nbsp; 1573 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Nationwide Financial Services Inc. | 3.900% | 11/30/49 | 1430 | &nbsp;&nbsp;&nbsp; 1001 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Nationwide Mutual Insurance Co. | 4.350% | 4/30/50 | 1520 | &nbsp;&nbsp;&nbsp; 1138 |
|  | &nbsp;&nbsp;&nbsp;NatWest Group plc | 1.642% | 6/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp; 754 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;NatWest Markets plc | 0.800% | 8/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp; 622 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;NBK SPC Ltd. | 1.625% | 9/15/27 | 1975 | &nbsp;&nbsp;&nbsp; 1745 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;New York Life Global Funding | 2.900% | 1/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp; 793 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;New York Life Insurance Co. | 5.875% | 5/15/33 | 2100 | &nbsp;&nbsp;&nbsp; 2169 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;New York Life Insurance Co. | 3.750% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 264 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;New York Life Insurance Co. | 4.450% | 5/15/69 | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp; 362 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Nordea Bank Abp | 1.500% | 9/30/26 | 1900 | &nbsp;&nbsp; 1650 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Northwestern Mutual Life Insurance Co. | 3.850% | 9/30/47 | &nbsp;&nbsp;&nbsp;&nbsp;696 | &nbsp;&nbsp; 533 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Northwestern Mutual Life Insurance Co. | 3.625% | 9/30/59 | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 187 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Pacific Life Global Funding II | 1.375% | 4/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp; 701 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Pacific LifeCorp | 5.400% | 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 479 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp; 449 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp. | 2.700% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp; 363 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp. | 3.950% | 3/10/25 | 1435 | &nbsp;&nbsp; 1382 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp. | 4.450% | 1/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp; 889 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp. | 5.875% | 11/15/27 | 1370 | &nbsp;&nbsp; 1380 |
|  | &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.300% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 448 |
|  | &nbsp;&nbsp;&nbsp;PNC Bank NA | 2.950% | 2/23/25 | 1105 | &nbsp;&nbsp; 1061 |
|  | &nbsp;&nbsp;&nbsp;PNC Bank NA | 4.200% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp; 249 |
|  | &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.100% | 10/25/27 | 1165 | &nbsp;&nbsp; 1091 |
|  | &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.250% | 1/22/28 | 1675 | &nbsp;&nbsp; 1565 |
|  | &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 3.900% | 4/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp; 573 |
|  | &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 2.550% | 1/22/30 | 1625 | &nbsp;&nbsp; 1381 |
|  | &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 6.037% | 10/28/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 42 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Principal Life Global Funding II | 2.500% | 9/16/29 | 1000 | &nbsp;&nbsp; 844 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Protective Life Global Funding | 4.714% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 727 |
|  | &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 4.350% | 2/25/50 | 1856 | &nbsp;&nbsp; 1575 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;RGA Global Funding | 2.700% | 1/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 360 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Standard Chartered plc | 1.214% | 3/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp; 267 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Trust Bank Ltd. | 0.850% | 3/25/24 | 2000 | &nbsp;&nbsp; 1892 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB | 1.418% | 6/11/27 | 1875 | &nbsp;&nbsp; 1643 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Teachers Insurance & Annuity Assn. of America | 4.900% | 9/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp; 837 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Teachers Insurance & Annuity Assn. of America | 4.270% | 5/15/47 | 1145 | &nbsp;&nbsp; 946 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Temasek Financial I Ltd. | 2.375% | 1/23/23 | 1130 | &nbsp;&nbsp;&nbsp; 1129 |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Temasek Financial I Ltd. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | 1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 980 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Temasek Financial I Ltd. | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/2/41 | 1345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Temasek Financial I Ltd. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/51 | 1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 719 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Temasek Financial I Ltd. | 2.500% | 10/6/70 | &nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 399 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 4.456% | &nbsp;&nbsp;&nbsp;&nbsp;6/8/32 | &nbsp;&nbsp;&nbsp;&nbsp;332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 3.300% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/25 | 1385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1346 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 639 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UBS AG | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 861 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UBS Group AG | 1.494% | 8/10/27 | 1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 998 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UBS Group AG | 3.126% | 8/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UBS Group AG | 2.095% | 2/11/32 | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 541 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UBS Group AG | 2.746% | 2/11/33 | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UBS Group AG | 3.179% | 2/11/43 | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 578 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UniCredit SpA | 1.982% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/27 | 1015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 864 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UniCredit SpA | 3.127% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/32 | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 907 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.700% | 1/30/24 | 1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1540 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 2.677% | 1/27/33 | 1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1577 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 4.967% | 7/22/33 | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 2.491% | 11/3/36 | 1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1420 |
|  | &nbsp;&nbsp;&nbsp;Wachovia Corp. | 7.500% | 4/15/35 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1124 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.480% | 1/16/24 | 1199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1191 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.750% | 1/24/24 | 1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1540 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 2/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 853 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.550% | 9/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 827 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 4/22/26 | 1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 978 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 10/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.196% | 6/17/27 | 1705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1583 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.526% | 3/24/28 | 1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1140 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.879% | 10/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.572% | 2/11/31 | 2235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1849 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/33 | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.897% | 7/25/33 | 3814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3612 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 5.606% | 1/15/44 | 2316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2245 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.900% | 11/17/45 | &nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.750% | 12/7/46 | 2070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1734 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.611% | 4/25/53 | 1245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1059 |
|  |  |  |  |  | **287120** |
| **Health Care (2.4%)** | **Health Care (2.4%)** | **Health Care (2.4%)** | **Health Care (2.4%)** | **Health Care (2.4%)** | **Health Care (2.4%)** |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.800% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.300% | 5/14/36 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.050% | 11/21/39 | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 |
|  | &nbsp;&nbsp;&nbsp;AdventHealth Obligated Group | 2.795% | 11/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573 |
|  | &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 2.211% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 |
|  | &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 3.008% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 360 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 2.800% | 6/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 673 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Alcon Finance Corp. | 2.750% | 9/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Alcon Finance Corp. | 2.600% | 5/27/30 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Alcon Finance Corp. | 5.375% | 12/6/32 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Alcon Finance Corp. | 3.800% | 9/23/49 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 610 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Alcon Finance Corp. | 5.750% | 12/6/52 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 0.737% | 3/15/23 | &nbsp;&nbsp; 374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 3.300% | 1/15/23 | 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1099 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 3.650% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 707 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.101% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | 1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1093 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 2.550% | 3/15/31 | 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 921 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.650% | 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Ascension Health | 2.532% | 11/15/29 | 1405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1204 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ascension Health | 4.847% | 11/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 4.000% | 1/17/29 | 2345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2254 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 6.450% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 694 |
|  | &nbsp;&nbsp;&nbsp;Banner Health | 2.907% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 665 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 2.272% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 683 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Bayer US Finance II LLC | 4.250% | 12/15/25 | 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1068 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Bayer US Finance LLC | 3.375% | 10/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 787 |
|  | &nbsp;&nbsp;&nbsp;Beth Israel Lahey Health Inc. | 3.080% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Bon Secours Mercy Health Inc. | 4.302% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Bon Secours Mercy Health Inc. | 3.464% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524 |
|  | &nbsp;&nbsp;&nbsp;Bon Secours Mercy Health Inc. | 2.095% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 2.750% | 2/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.400% | 7/26/29 | &nbsp;&nbsp; 274 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 2.950% | 3/15/32 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.125% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp; 450 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.550% | 3/15/42 | 1205 | &nbsp;&nbsp; 980 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.550% | 2/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.250% | 10/26/49 | 1473 | &nbsp;&nbsp;&nbsp; 1274 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 2.550% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp; 294 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.700% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 359 |
|  | &nbsp;&nbsp;&nbsp;Cedars-Sinai Health System | 2.288% | 8/15/31 | 1330 | &nbsp;&nbsp; 1066 |
|  | &nbsp;&nbsp;&nbsp;Children's Hospital Corp. | 2.585% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp; 848 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.375% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp; 497 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp; 531 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 2.760% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp; 825 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 3.347% | 10/1/29 | 1015 | &nbsp;&nbsp; 880 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 2.782% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp; 563 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 4.350% | 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp; 505 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 4.187% | 10/1/49 | 1687 | &nbsp;&nbsp;&nbsp; 1310 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 3.910% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Cottage Health Obligated Group | 3.304% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp; 210 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;CSL UK Holdings Ltd. | 4.250% | 4/27/32 | 2152 | &nbsp;&nbsp; 2026 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;CSL UK Holdings Ltd. | 4.750% | 4/27/52 | 1239 | &nbsp;&nbsp;&nbsp; 1117 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.300% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 1.750% | 8/21/30 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.875% | 7/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp; 358 |
|  | &nbsp;&nbsp;&nbsp;Dignity Health | 3.812% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 543 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | 5.500% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 328 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | 6.100% | 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp; 1010 | &nbsp;&nbsp; 993 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 542 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/47 | 1640 | &nbsp;&nbsp; 1358 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 2.800% | 10/1/50 | 1235 | &nbsp;&nbsp; 799 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 5.375% | 4/15/34 | 2000 | &nbsp;&nbsp; 2065 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 3.625% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp; 385 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.375% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 108 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.625% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Indiana University Health Inc. Obligated Group | 2.852% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp; 229 |
|  | &nbsp;&nbsp;&nbsp;Inova Health System Foundation | 4.068% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 393 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 354 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 2.810% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | 1130 | &nbsp;&nbsp;&nbsp; 819 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 3.002% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | 1105 | &nbsp;&nbsp; 751 |
|  | &nbsp;&nbsp;&nbsp;Mass General Brigham Inc. | 3.192% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp; 372 |
|  | &nbsp;&nbsp;&nbsp;Mass General Brigham Inc. | 3.342% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp; 643 |
|  | &nbsp;&nbsp;&nbsp;Memorial Sloan-Kettering Cancer Center | 2.955% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp; 393 |
|  | &nbsp;&nbsp;&nbsp;Memorial Sloan-Kettering Cancer Center | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/29 | 1470 | &nbsp;&nbsp; 1369 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 4.150% | 5/18/43 | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp; 675 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/49 | 1915 | &nbsp;&nbsp; 1641 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp; 407 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp; 594 |
|  | &nbsp;&nbsp;&nbsp;OhioHealth Corp. | 2.297% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp; 609 |
|  | &nbsp;&nbsp;&nbsp;OhioHealth Corp. | 2.834% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp; 344 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 3.000% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 687 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 3.450% | 3/15/29 | 2165 | &nbsp;&nbsp; 2040 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.100% | 9/15/38 | 1505 | &nbsp;&nbsp; 1365 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 2.550% | 5/28/40 | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Healthcare Inc. | 2.044% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Healthcare Inc. | 2.719% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Healthcare Inc. | 2.864% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp; 210 |
|  | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 2.532% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp; 829 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 3.930% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 256 |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 2.700% | 10/1/51 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Roche Holdings Inc. | 2.375% | 1/28/27 | 1650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1510 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Roche Holdings Inc. | 2.607% | 12/13/51 | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 199 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/50 | 1405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906 |
|  | &nbsp;&nbsp;&nbsp;Rush Obligated Group | 3.922% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 |
|  | &nbsp;&nbsp;&nbsp;SSM Health Care Corp. | 3.823% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 888 |
|  | &nbsp;&nbsp;&nbsp;Sutter Health | 2.294% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 452 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 1.750% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 2.000% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 453 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 4.950% | 11/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 747 |
|  | &nbsp;&nbsp;&nbsp;Toledo Hospital | 5.750% | 11/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.100% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.850% | 6/15/28 | 1190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1141 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.000% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.300% | 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.200% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.625% | 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.500% | 8/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.750% | 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.375% | 3/15/42 | 1318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1184 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.250% | 3/15/43 | 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1418 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.750% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 559 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.200% | 1/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.750% | 10/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.250% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 767 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.450% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.700% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 534 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.900% | 5/15/50 | 2293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1563 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.250% | 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.750% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.875% | 2/15/53 | 1655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1797 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.875% | 8/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 483 |
|  |  |  |  |  | **75516** |
| **Industrials (1.0%)** | **Industrials (1.0%)** | **Industrials (1.0%)** | **Industrials (1.0%)** | **Industrials (1.0%)** | **Industrials (1.0%)** |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Ashtead Capital Inc. | 2.450% | 8/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BAE Systems Holdings Inc. | 3.850% | 12/15/25 | 1085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1046 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BAE Systems plc | 3.400% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 1.433% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/24 | &nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 899 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.000% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 563 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/23 | 1630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1619 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.050% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.050% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 2.875% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 473 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.450% | 1/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 2.450% | 12/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 3.100% | 12/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 |
|  | &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.722% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378 |
|  | &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 3.400% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 794 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.350% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Daimler Trucks Finance North America LLC | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/27 | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 4.150% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 4.700% | 8/23/52 | &nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 5.000% | 2/15/33 | 2226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2269 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | 1295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1274 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.450% | 3/13/25 | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1169 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 4.950% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 1.850% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.250% | 1/15/33 | 2975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3076 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.500% | 5/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.700% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.090% | 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.700% | 11/15/54 | 2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2179 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.125% | 11/16/28 | 1125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1078 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.450% | 11/16/38 | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Siemens Financieringsmaatschappij NV | 3.125% | 3/16/24 | 1680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1641 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Siemens Financieringsmaatschappij NV | 1.700% | 3/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 539 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Siemens Financieringsmaatschappij NV | 2.150% | 3/11/31 | 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 895 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Siemens Financieringsmaatschappij NV | 4.400% | 5/27/45 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 714 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.800% | 2/14/32 | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.375% | 2/14/42 | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 422 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/50 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.799% | 10/1/51 | 1096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 878 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.500% | 2/14/53 | 1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 774 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.839% | 3/20/60 | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 668 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.973% | 9/16/62 | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/70 | &nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class B Series 2018-1 Pass Through Trust | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
|  |  |  |  |  | **30987** |
| **Materials (0.0%)** | **Materials (0.0%)** | **Materials (0.0%)** | **Materials (0.0%)** | **Materials (0.0%)** | **Materials (0.0%)** |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corp. Nacional del Cobre de Chile | 3.700% | 1/30/50 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 449 |
| **Real Estate (0.4%)** | **Real Estate (0.4%)** | **Real Estate (0.4%)** | **Real Estate (0.4%)** | **Real Estate (0.4%)** | **Real Estate (0.4%)** |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 5.000% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 4.400% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 439 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.800% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 892 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.800% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | 2185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1720 |
|  | &nbsp;&nbsp;&nbsp;CubeSmart LP | 2.250% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 |
|  | &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 2.125% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 740 |
|  | &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 797 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.400% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 2.200% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.250% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 2.850% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;SBA Tower Trust | 1.840% | 4/15/27 | 1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1315 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;SBA Tower Trust | 2.836% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 683 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;SBA Tower Trust | 1.884% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;SBA Tower Trust | 1.631% | 5/15/51 | 1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;SBA Tower Trust | 2.593% | 10/15/56 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1151 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Scentre Group Trust 1 / Scentre Group Trust 2 | 4.375% | 5/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 615 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.375% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.450% | 9/13/29 | 1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970 |
|  |  |  |  |  | **13667** |
| **Technology (1.7%)** | **Technology (1.7%)** | **Technology (1.7%)** | **Technology (1.7%)** | **Technology (1.7%)** | **Technology (1.7%)** |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 608 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/24 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 983 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 2.850% | 5/11/24 | 1225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1193 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 3.250% | 2/23/26 | 1020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 980 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/26 | 1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1086 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/27 | 1545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1479 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 3.200% | 5/11/27 | 1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1011 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 2.900% | 9/12/27 | 2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2101 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/43 | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/46 | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 839 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 2.650% | 5/11/50 | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 2.550% | 8/20/60 | 1425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 872 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Corp. / Broadcom Cayman Finance Ltd. | 3.875% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.110% | 9/15/28 | 1452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1355 |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.150% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 2.600% | 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 2.500% | 9/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 2.875% | 5/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 779 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 2.000% | 8/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/32 | &nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 4.100% | 5/19/46 | 1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1107 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 3.250% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 4.750% | 3/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 3.050% | 8/12/51 | 1610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1046 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/52 | 3405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3025 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 3.200% | 8/12/61 | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 |
|  | &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.000% | 5/15/24 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2434 |
|  | &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.300% | 5/15/26 | 4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4283 |
|  | &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.500% | 5/15/29 | 2975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2733 |
|  | &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 5.875% | 11/29/32 | &nbsp;&nbsp; 1010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1076 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.700% | 2/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.125% | 11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/26 | 1890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1763 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.500% | 2/12/35 | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/36 | &nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 730 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.525% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | 3336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2223 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.921% | 3/17/52 | 3287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2342 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.950% | 11/15/24 | 2190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2108 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 1.650% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 802 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.250% | 11/15/27 | 1616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1485 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 1.300% | 5/20/28 | &nbsp;&nbsp; 744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 2.150% | 5/20/30 | 1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 908 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 1.650% | 5/20/32 | &nbsp;&nbsp; 1112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 858 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.250% | 5/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.500% | 5/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 507 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | 2191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1869 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | 1155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 997 |
|  | &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | 1290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1057 |
|  |  |  |  |  | **53442** |
| **Utilities (3.1%)** | **Utilities (3.1%)** | **Utilities (3.1%)** | **Utilities (3.1%)** | **Utilities (3.1%)** | **Utilities (3.1%)** |
|  | &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 3.450% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269 |
|  | &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 4.500% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 5.200% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 4.100% | 1/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 490 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 4.300% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 649 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 3.800% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 6.125% | 12/15/28 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1020 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 498 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 566 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 708 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 3.350% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 2.900% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/36 | 1135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1192 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 5.950% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 5.150% | 11/15/43 | 1490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1421 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.250% | 10/15/50 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 580 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Boston Gas Co. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Boston Gas Co. | 3.757% | 3/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Brooklyn Union Gas Co. | 3.407% | 3/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Brooklyn Union Gas Co. | 4.273% | 3/15/48 | 1720 | &nbsp;&nbsp; 1287 |
|  | &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | 1369 | &nbsp;&nbsp; 1304 |
|  | &nbsp;&nbsp;&nbsp;Cleco Corporate Holdings LLC | 3.743% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Cleco Corporate Holdings LLC | 3.375% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 341 |
|  | &nbsp;&nbsp;&nbsp;Cleco Securitization I LLC | 4.646% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp; 709 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 2.950% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp; 597 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.350% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 321 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.650% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.850% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.500% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp; 839 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.850% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.200% | 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 396 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 6.150% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp; 455 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.625% | 12/1/54 | 2640 | &nbsp;&nbsp; 2256 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.500% | 5/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp; 598 |
|  | &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp; 477 |
|  | &nbsp;&nbsp;&nbsp;Delmarva Power & Light Co. | 3.500% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp; 301 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 2.450% | 1/15/23 | 3240 | &nbsp;&nbsp; 3230 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/33 | 1000 | &nbsp;&nbsp; 979 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 4.600% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp; 647 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 5.300% | 5/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 44 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 5.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 4.600% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 6.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp; 514 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp; 291 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.400% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 314 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.500% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp; 465 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.300% | 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;945 | &nbsp;&nbsp; 692 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.800% | 12/15/45 | 1200 | &nbsp;&nbsp; 1054 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.200% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.500% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp; 695 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 5.000% | 8/15/52 | 1473 | &nbsp;&nbsp; 1322 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 6.350% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 5.950% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 6.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp; 393 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 4.100% | 3/15/43 | &nbsp;&nbsp; 118 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 4.200% | 8/15/45 | 2045 | &nbsp;&nbsp;&nbsp; 1715 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 2.500% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 2.900% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke Energy Progress NC Storm Funding LLC | 2.387% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/39 | &nbsp;&nbsp; 1010 | &nbsp;&nbsp;&nbsp; 812 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;East Ohio Gas Co. | 2.000% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 255 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;East Ohio Gas Co. | 3.000% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 302 |
|  | &nbsp;&nbsp;&nbsp;Eastern Energy Gas Holdings LLC | 3.550% | 11/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 464 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Electricite de France SA | 4.875% | 9/21/38 | 2200 | &nbsp;&nbsp; 1797 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Electricite de France SA | 4.875% | 1/22/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
|  | &nbsp;&nbsp;&nbsp;Emera US Finance LP | 3.550% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp; 672 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Enel Finance International NV | 5.000% | 6/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp; 604 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 3.120% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp; 378 |
|  | &nbsp;&nbsp;&nbsp;Evergy Inc. | 2.450% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 404 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 438 |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 169 |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro Inc. | 4.200% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 2.900% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp; 665 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.150% | 1/15/25 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.300% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 3.350% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp; 470 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 5.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | 1000 | &nbsp;&nbsp;&nbsp; 1017 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/35 | 1000 | &nbsp;&nbsp; 983 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp; 835 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 5.690% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 700 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Fortis Inc. | 3.055% | 10/4/26 | 1195 | &nbsp;&nbsp;&nbsp; 1110 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 4.700% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp; 631 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;988 | &nbsp;&nbsp; 895 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 4.300% | 3/15/42 | 1076 | &nbsp;&nbsp; 922 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 3.700% | 1/30/50 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 5.125% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp; 669 |
|  | &nbsp;&nbsp;&nbsp;Indiana Michigan Power Co. | 4.250% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp; 337 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;ITC Holdings Corp. | 4.950% | 9/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 59 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;KeySpan Gas East Corp. | 2.742% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp; 598 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Massachusetts Electric Co. | 5.900% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp; 581 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Metropolitan Edison Co. | 4.300% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;249 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 4.400% | 10/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 13 |
|  | &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 4.250% | 7/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp; 271 |
|  | &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 3.150% | 4/15/50 | 1390 | &nbsp;&nbsp; 988 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Mid-Atlantic Interstate Transmission LLC | 4.100% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp; 207 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Monongahela Power Co. | 5.400% | 12/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp; 406 |
|  | &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 2.850% | 1/27/25 | 1040 | &nbsp;&nbsp; 999 |
|  | &nbsp;&nbsp;&nbsp;Nevada Power Co. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp; 830 |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 1.900% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp; 573 |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 2.750% | 11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp; 511 |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | 1225 | &nbsp;&nbsp; 1008 |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 5.000% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 133 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Niagara Mohawk Power Corp. | 4.278% | 12/15/28 | 1000 | &nbsp;&nbsp; 923 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Niagara Mohawk Power Corp. | 3.025% | 6/27/50 | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;NiSource Inc. | 5.250% | 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 369 |
|  | &nbsp;&nbsp;&nbsp;NiSource Inc. | 4.800% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;NiSource Inc. | 5.000% | 6/15/52 | 2036 | &nbsp;&nbsp; 1858 |
|  | &nbsp;&nbsp;&nbsp;Northern States Power Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;Northern States Power Co. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/36 | 2000 | &nbsp;&nbsp;&nbsp; 2154 |
|  | &nbsp;&nbsp;&nbsp;Northern States Power Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/52 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 100 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 6.191% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/31 | 1065 | &nbsp;&nbsp; 1072 |
|  | &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 5.950% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp; 392 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/47 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 5.050% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 554 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 4.550% | 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp; 656 |
|  | &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 4.550% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.700% | 11/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp; 233 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp; 617 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 4.950% | 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp; 613 |
|  | &nbsp;&nbsp;&nbsp;PacifiCorp | 6.250% | 10/15/37 | 2000 | &nbsp;&nbsp;&nbsp; 2125 |
|  | &nbsp;&nbsp;&nbsp;PacifiCorp | 4.125% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 21 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;PacifiCorp | 4.150% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 |
|  | &nbsp;&nbsp;&nbsp;PacifiCorp | 3.300% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;PECO Energy Co. | 4.600% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Energy Recovery Funding LLC | 2.280% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Energy Recovery Funding LLC | 2.822% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 5.212% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 5.099% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co Inc. | 5.050% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Potomac Electric Power Co. | 6.500% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 822 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 1.700% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 4.150% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 458 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 2.950% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.700% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 624 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;SCE Recovery Funding LLC | 0.861% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224 |
|  | &nbsp;&nbsp;&nbsp;SCE Recovery Funding LLC | 1.942% | 5/15/40 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;SCE Recovery Funding LLC | 2.510% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 |
|  | &nbsp;&nbsp;&nbsp;Sempra Energy | 3.250% | 6/15/27 | 4095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3787 |
|  | &nbsp;&nbsp;&nbsp;Sempra Energy | 6.000% | 10/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 609 |
|  | &nbsp;&nbsp;&nbsp;Sierra Pacific Power Co. | 3.375% | 8/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 841 |
|  | &nbsp;&nbsp;&nbsp;Sierra Pacific Power Co. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.950% | 11/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 657 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 6.000% | 1/15/34 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1042 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.550% | 1/15/37 | 2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2206 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 6.050% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.650% | 10/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 515 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 2.600% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 760 |
|  | &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 6.350% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/23 | 1280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1268 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 631 |
|  | &nbsp;&nbsp;&nbsp;Southwest Gas Corp. | 2.200% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 6.200% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 408 |
|  | &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.700% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Texas Electric Market Stabilization Funding N LLC | 4.966% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/44 | 1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1081 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Texas Electric Market Stabilization Funding N LLC | 5.057% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Texas Electric Market Stabilization Funding N LLC | 5.167% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 493 |
|  | &nbsp;&nbsp;&nbsp;Union Electric Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340 |
|  | &nbsp;&nbsp;&nbsp;Union Electric Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 199 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.750% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 687 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.500% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 |
|  | &nbsp;&nbsp;&nbsp;Wisconsin Electric Power Co. | 5.700% | 12/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 694 |
|  |  |  |  |  | **97418** |
| **Total Corporate Bonds (Cost $790,659)** | **Total Corporate Bonds (Cost $790,659)** | **Total Corporate Bonds (Cost $790,659)** | **Total Corporate Bonds (Cost $790,659)** | **Total Corporate Bonds (Cost $790,659)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**700056** |
| **Sovereign Bonds (0.3%)** | **Sovereign Bonds (0.3%)** | **Sovereign Bonds (0.3%)** | **Sovereign Bonds (0.3%)** | **Sovereign Bonds (0.3%)** | **Sovereign Bonds (0.3%)** |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Emirate of Abu Dhabi | 4.951% | &nbsp;&nbsp;&nbsp;&nbsp;7/7/52 | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Government of Bermuda | 2.375% | 8/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Government of Bermuda | 3.375% | 8/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 4.750% | 2/15/35 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2076 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 2.550% | 1/27/32 | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 2.550% | 7/27/33 | 1085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 851 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.500% | 1/31/34 | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 466 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.500% | 4/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.100% | 1/22/61 | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;State of Qatar | 3.875% | 4/23/23 | 1985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1975 |

---

------

Balanced Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;State of Qatar | 4.400% | 4/16/50 | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp; 393 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.400% | 2/12/52 | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp; 655 |
| **Total Sovereign Bonds (Cost $9,451)** | **Total Sovereign Bonds (Cost $9,451)** | **Total Sovereign Bonds (Cost $9,451)** | **Total Sovereign Bonds (Cost $9,451)** | **Total Sovereign Bonds (Cost $9,451)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8393** |
| **Taxable Municipal Bonds (1.5%)** | **Taxable Municipal Bonds (1.5%)** | **Taxable Municipal Bonds (1.5%)** | **Taxable Municipal Bonds (1.5%)** | **Taxable Municipal Bonds (1.5%)** | **Taxable Municipal Bonds (1.5%)** |
|  | &nbsp;&nbsp;&nbsp;Alabama Federal Aid Highway Finance Authority Government Fund/Grant Revenue | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 2.574% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 394 |
|  | &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 6.263% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 7.043% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp; 1008 |
|  | &nbsp;&nbsp;&nbsp;Broward FL Airport System Port, Airport & Marina Revenue | 3.477% | 10/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;California GO | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;California GO | 7.350% | 11/1/39 | 1550 | &nbsp;&nbsp; 1892 |
|  | &nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority Intergovernmental Agreement Revenue | 4.190% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;California State University College & University Revenue | 2.719% | 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;California State University College & University Revenue | 2.939% | 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp; 301 |
|  | &nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport Port, Airport & Marina Revenue | 6.395% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Chicago Transit Authority Sales & Transfer Tax Receipts Sales Tax Revenue | 6.899% | 12/1/40 | 1730 | &nbsp;&nbsp;&nbsp; 1918 |
|  | &nbsp;&nbsp;&nbsp;Chicago Transit Authority Sales & Transfer Tax Receipts Sales Tax Revenue | 6.899% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 887 |
|  | &nbsp;&nbsp;&nbsp;Chicago Transit Authority Sales Tax Receipts Fund Sales Tax Revenue | 6.200% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 592 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 4.110% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 550 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 2.514% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Dallas Fort Worth International Airport Port, Airport & Marina Revenue | 2.843% | 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp; 370 |
|  | &nbsp;&nbsp;&nbsp;Dallas Fort Worth International Airport Port, Airport & Marina Revenue | 4.087% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Dallas-Fort Worth International Airport Port, Airport & Marina Revenue | 3.089% | 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Dallas-Fort Worth International Airport Port, Airport & Marina Revenue | 4.507% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp; 481 |
|  | &nbsp;&nbsp;&nbsp;Florida State Board of Administration Finance Corp. Miscellaneous Revenue | 1.705% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp; 805 |
|  | &nbsp;&nbsp;&nbsp;Foothill-Eastern Transportation Corridor Agency Highway Revenue | 4.094% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 117 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Foothill-Eastern Transportation Corridor Agency Highway Revenue | 3.924% | 1/15/53 | 1170 | &nbsp;&nbsp; 840 |
|  | &nbsp;&nbsp;&nbsp;Georgia Municipal Electric Authority Electric Power & Light Revenue | 6.637% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/57 | 2031 | &nbsp;&nbsp;&nbsp; 2173 |
|  | &nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Corp. Tobacco Settlement Funded Revenue | 2.746% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Corp. Tobacco Settlement Funded Revenue | 3.293% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp; 96 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Corp. Tobacco Settlement Funded Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 268 |
|  | &nbsp;&nbsp;&nbsp;Grand Parkway Transportation Corp. Highway Revenue | 5.184% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Grand Parkway Transportation Corp. Texas System Highway Revenue | 3.236% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp; 659 |
|  | &nbsp;&nbsp;&nbsp;Great Lakes Water Authority Sewage Disposal System Sewer Revenue | 3.056% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Houston TX GO | 6.290% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp; 356 |
|  | &nbsp;&nbsp;&nbsp;Illinois GO | 5.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/33 | 4395 | &nbsp;&nbsp; 4218 |
|  | &nbsp;&nbsp;&nbsp;Illinois State Toll Highway Authority Highway Revenue | 6.184% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 805 |
|  | &nbsp;&nbsp;&nbsp;JobsOhio Beverage System Miscellaneous Revenue | 2.833% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 125 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Kansas Development Finance Authority Appropriations Revenue | 2.774% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 263 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Kansas Development Finance Authority Lease (Appropriation) Revenue | 5.501% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/34 | 2000 | &nbsp;&nbsp; 2041 |
|  | &nbsp;&nbsp;&nbsp;Maryland State Transportation Authority Transit Revenue | 5.888% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp; 574 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 1.753% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp; 727 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 5.715% | 8/15/39 | 1000 | &nbsp;&nbsp; 1024 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 3.395% | 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 383 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 2.950% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 475 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Water Resources Authority Water Revenue | 2.823% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp; 522 |
|  | &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Fuel Sales Tax Revenue | 6.089% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 482 |
|  | &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Miscellaneous Taxes Revenue | 7.336% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 398 |
|  | &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Transit Revenue | 6.200% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Transit Revenue | 6.814% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp; 820 |
|  | &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Transit Revenue | 5.175% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp; 785 |
|  | &nbsp;&nbsp;&nbsp;Michigan Finance Authority Health, Hospital, Nursing Home Revenue | 3.084% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 7.414% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp; 508 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Income Tax Revenue | 3.110% | 2/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp; 504 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Income Tax Revenue | 3.190% | 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp; 261 |
|  | &nbsp;&nbsp;&nbsp;New York State Thruway Authority Highway Revenue | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp; 402 |
|  | &nbsp;&nbsp;&nbsp;New York State Thruway Authority Highway Revenue | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;North Texas Tollway Authority Highway Revenue | 3.011% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 337 |
|  | &nbsp;&nbsp;&nbsp;North Texas Tollway Authority Highway Revenue | 6.718% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp; 551 |
|  | &nbsp;&nbsp;&nbsp;Oregon Department of Transportation Fuel Sales Tax Revenue | 5.834% | 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp; 703 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Oregon School Boards Assn. GO | 5.528% | 6/30/28 | 2000 | &nbsp;&nbsp; 2031 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Oregon State University College & University Revenue | 3.424% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/60 | 1000 | &nbsp;&nbsp; 692 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Philadelphia Authority for Industrial Development Miscellaneous Revenue | 6.550% | 10/15/28 | 1945 | &nbsp;&nbsp; 2033 |

---

------

Balanced Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.859% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 3.175% | 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp; 313 |
| &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.458% | 10/1/62 | 1175 | &nbsp;&nbsp; 1020 |
| &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.810% | 10/15/65 | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp; 593 |
| &nbsp;&nbsp;&nbsp;Regents of the University of California Medical Center Pooled Health, Hospital, Nursing Home Revenue | 4.132% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp; 433 |
| &nbsp;&nbsp;&nbsp;Riverside CA General Fund Revenue | 3.857% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp;Riverside County CA Appropriations Revenue | 3.818% | 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp;Rutgers State University of New Jersey College & University Revenue | 3.270% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp;Sales Tax Securitization Corp. Intergovernmental Agreement Revenue | 3.238% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | 1000 | &nbsp;&nbsp;&nbsp; 760 |
| &nbsp;&nbsp;&nbsp;Texas Transportation Commission GO | 2.562% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Texas Transportation Commission State Highway Fund Miscellaneous Revenue | 4.000% | 10/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 1.316% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp; 332 |
| &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 1.614% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp; 514 |
| &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 4.601% | 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp; 580 |
| &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 4.765% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 3.931% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 498 |
| &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 6.548% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 6.583% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp; 790 |
| &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 3.006% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 297 |
| &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 4.563% | 5/15/53 | 1350 | &nbsp;&nbsp; 1181 |
| &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 3.256% | 5/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp; 506 |
| &nbsp;&nbsp;&nbsp;University of Michigan College & University Revenue | 3.504% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;University of Minnesota College & University Revenue | 4.048% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp; 712 |
| &nbsp;&nbsp;&nbsp;Utility Debt Securitization Authority Electric Power & Light Revenue | 3.435% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp; 83 |
| **Total Taxable Municipal Bonds (Cost $55,362)** | **Total Taxable Municipal Bonds (Cost $55,362)** | **Total Taxable Municipal Bonds (Cost $55,362)** | **Total Taxable Municipal Bonds (Cost $55,362)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**48198** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon |  | &nbsp;&nbsp;Shares | Market<br> Value• ($000) |
| **Temporary Cash Investments (0.9%)** | **Temporary Cash Investments (0.9%)** | **Temporary Cash Investments (0.9%)** | **Temporary Cash Investments (0.9%)** | **Temporary Cash Investments (0.9%)** | **Temporary Cash Investments (0.9%)** |
| **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund | 4.334% |  | &nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp; 11 |
|  |  |  | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) |  |
| **Repurchase Agreement (0.9%)** | **Repurchase Agreement (0.9%)** | **Repurchase Agreement (0.9%)** | **Repurchase Agreement (0.9%)** | **Repurchase Agreement (0.9%)** | **Repurchase Agreement (0.9%)** |
|  | &nbsp;&nbsp;&nbsp;NatWest Markets plc<br> (Dated 12/30/22, Repurchase Value $29,614,000, collateralized by U.S. Treasury Note/Bond 4.000%, 12/15/25, with a value of $30,192,000) | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;1/3/23 | 29600 | &nbsp;&nbsp; 29600 |
| **Total Temporary Cash Investments (Cost $29,612)** | **Total Temporary Cash Investments (Cost $29,612)** | **Total Temporary Cash Investments (Cost $29,612)** | **Total Temporary Cash Investments (Cost $29,612)** | **Total Temporary Cash Investments (Cost $29,612)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29611** |
| **Total Investments (100.0%) (Cost $2,873,468)** | **Total Investments (100.0%) (Cost $2,873,468)** | **Total Investments (100.0%) (Cost $2,873,468)** | **Total Investments (100.0%) (Cost $2,873,468)** | **Total Investments (100.0%) (Cost $2,873,468)** | &nbsp;&nbsp;**3142536** |
| **Other Assets and Liabilities—Net (0.0%)** | **Other Assets and Liabilities—Net (0.0%)** | **Other Assets and Liabilities—Net (0.0%)** | **Other Assets and Liabilities—Net (0.0%)** | **Other Assets and Liabilities—Net (0.0%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(620)** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | &nbsp;&nbsp;**3141916** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| \* | Non-income-producing security. |
| 1 | Securities with a value of $391,000 have been segregated as initial margin for open futures contracts. |
| 2 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
| 3 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
| 4 | Includes securities purchased on a when-issued or delayed-delivery basis for which the portfolio has not taken delivery as of December 31, 2022. |
| 5 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, the aggregate value was $194,598,000, representing 6.2% of net assets. |
| 6 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
| 7 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp. |
| 8 | Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co. |
| 9 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
| 10 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
|  | 1M—1-month. |
|  | 3M—3-month. |
|  | ADR—American Depositary Receipt. |
|  | CLO—Collateralized Loan Obligation. |
|  | DAC—Designated Activity Company. |
|  | GO—General Obligation Bond. |
|  | LIBOR—London Interbank Offered Rate. |
|  | REMICS—Real Estate Mortgage Investment Conduits. |
|  | UMBS—Uniform Mortgage-Backed Securities. |
|  | USD—U.S. dollar. |

---

------

Balanced Portfolio

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| Ultra Long U.S. Treasury Bond | March 2023 | 4 | 537 | &nbsp;&nbsp;(4) |
| 5-Year U.S. Treasury Note | March 2023 | 55 | 5936 | &nbsp;&nbsp;(9) |
|  |  |  |  | &nbsp;&nbsp;(13) |
| Short Futures Contracts |  |  |  |  |
| 10-Year U.S. Treasury Note | March 2023 | (83) | (9321) | &nbsp;&nbsp;103 |
| Ultra 10-Year U.S. Treasury Note | March 2023 | (58) | (6860) | &nbsp;&nbsp;40 |
|  |  |  |  | &nbsp;&nbsp;143 |
|  |  |  |  | &nbsp;&nbsp;130 |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Balanced Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $2,873,456) | &nbsp;&nbsp;3142525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Total Investments in Securities | &nbsp;&nbsp;3142536 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Foreign Currency, at Value (Cost $213) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14826 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12755 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791 |
| Variation Margin Receivable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| **Total Assets** | **3171265** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28331 |
| Payables to Investment Advisor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29349** |
| **Net Assets** | &nbsp;&nbsp;**3141916** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | 2683578 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;458338 |
| **Net Assets** | &nbsp;&nbsp;**3141916** |
| **Net Assets** |  |
| **Applicable to 144,645,422 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**3141916** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$21.72** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Balanced Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;38658 |
| Interest | &nbsp;&nbsp;&nbsp;34459 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Total Income | &nbsp;&nbsp;&nbsp;73118 |
| **Expenses** |  |
| Investment Advisory Fees—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic Fee | &nbsp;&nbsp;&nbsp;&nbsp;1647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Adjustment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(143) |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;4867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;6764 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;6761 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;**66357** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2</sup> | 131422 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;(3623) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;**127923** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | (727142) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| **Change in Unrealized Appreciation (Depreciation)** | **(727150)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(532870)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $42,000. |
| 2 | Realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $0, and ($1000), respectively. Purchases and sales are for temporary cash investment purposes. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62487 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;127923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311922 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(727150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242651 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(532870) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617060 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;(375204) | &nbsp;&nbsp;&nbsp;&nbsp;(240358) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;313136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255089 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;375204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240358 |
| Redeemed | &nbsp;&nbsp;&nbsp;(425731) | &nbsp;&nbsp;&nbsp;&nbsp;(431072) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;262609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64375 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(645465) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441077 |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**3787381** | &nbsp;&nbsp;&nbsp;**3346304** |
| **End of Period** | **3141916** | &nbsp;&nbsp;&nbsp;**3787381** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Balanced Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$28.41** | &nbsp;&nbsp;&nbsp;**$25.68** | &nbsp;&nbsp;&nbsp;**$24.94** | &nbsp;&nbsp;&nbsp;**$22.20** | &nbsp;&nbsp;&nbsp;**$24.80** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.626 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.277) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.414) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.806) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.788) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.480) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.497) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.666) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.582) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.404) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.378) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.812) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.230) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.884) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.875) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.478) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.988) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.812) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$21.72** | &nbsp;&nbsp;&nbsp;**$28.41** | &nbsp;&nbsp;&nbsp;**$25.68** | &nbsp;&nbsp;&nbsp;**$24.94** | &nbsp;&nbsp;&nbsp;**$22.20** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-14.30%** | &nbsp;&nbsp;&nbsp;**19.02%** | &nbsp;&nbsp;&nbsp;**10.68%** | &nbsp;&nbsp;&nbsp;**22.48%** | &nbsp;&nbsp;&nbsp;**-3.41%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$3142 | &nbsp;&nbsp;&nbsp;$3787 | &nbsp;&nbsp;&nbsp;$3346 | &nbsp;&nbsp;&nbsp;$3267 | &nbsp;&nbsp;&nbsp;$2708 |
| Ratio of Total Expenses to Average Net Assets<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.21%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.20% | &nbsp;&nbsp;&nbsp;0.20% | &nbsp;&nbsp;&nbsp;0.21% | &nbsp;&nbsp;&nbsp;0.21% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;2.05% | &nbsp;&nbsp;&nbsp;1.76% | &nbsp;&nbsp;&nbsp;2.24% | &nbsp;&nbsp;&nbsp;2.68% | &nbsp;&nbsp;&nbsp;2.67% |
| Portfolio Turnover Rate<sup>4</sup> | &nbsp;&nbsp;&nbsp;40% | &nbsp;&nbsp;&nbsp;33% | &nbsp;&nbsp;&nbsp;49% | &nbsp;&nbsp;&nbsp;29% | &nbsp;&nbsp;&nbsp;36% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Includes performance-based investment advisory fee increases (decreases) of 0.00%, (0.01%), (0.01%), (0.00%), and (0.00%). |
| 3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset and broker commission abatement arrangements was 0.21%. |
| 4 | Includes 7%, 1%, 3%, 8%, and 2%, respectively, attributable to mortgage-dollar-roll activity. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Balanced Portfolio

Notes to Financial Statements

The Balanced Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts. Certain of the portfolio's investments are in corporate debt instruments; the issuers' abilities to meet their obligations may be affected by economic developments in their respective industries. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer, tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral, as furnished by independent pricing services. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the portfolio's pricing time. When fair-value pricing is employed, the prices of securities used by a portfolio to calculate its net asset value may differ from quoted or published prices for the same securities.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the portfolio's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. To Be Announced (TBA) Transactions: A TBA transaction is an agreement to buy or sell mortgage-backed securities with agreed-upon characteristics (face amount, coupon, maturity) for settlement at a future date. The portfolio may be a seller of TBA transactions to reduce its exposure to the mortgage-backed securities market or in order to sell mortgage-backed securities it owns under delayed-delivery arrangements. When the portfolio is a buyer of TBA transactions, it maintains cash or short-term investments in an amount sufficient to meet the purchase price at the settlement date of the TBA transaction. The primary risk associated with TBA transactions is that a counterparty may default on its obligations. The portfolio mitigates its counterparty risk by, among other things, performing a credit analysis of counterparties, allocating transactions among numerous counterparties, and monitoring its exposure to each counterparty. The portfolio may also enter into a Master Securities Forward Transaction Agreement (MSFTA) with certain counterparties and require them to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. Under an MSFTA, upon a counterparty default (including bankruptcy), the portfolio may terminate any TBA transactions with that counterparty, determine the net amount owed by either party in accordance with its MSFTA, and sell or retain any collateral held up to the net amount owed to the portfolio under the MSFTA.

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Balanced Portfolio

4. Mortgage Dollar Rolls: The portfolio enters into mortgage-dollar-roll transactions, in which the portfolio sells mortgage-backed securities to a dealer and simultaneously agrees to purchase similar securities in the future at a predetermined price. The proceeds of the securities sold in mortgage-dollar-roll transactions are typically invested in high-quality short-term fixed income securities. The portfolio forgoes principal and interest paid on the securities sold, and is compensated by interest earned on the proceeds of the sale and by a lower price on the securities to be repurchased. The portfolio also enters into mortgage-dollar-roll transactions in which the portfolio buys mortgage-backed securities from a dealer pursuant to a TBA transaction and simultaneously agrees to sell similar securities in the future at a predetermined price. The securities bought in mortgage-dollar-roll transactions are used to cover an open TBA sell position. The portfolio continues to earn interest on mortgage-backed security pools already held and receives a lower price on the securities to be sold in the future. The portfolio accounts for mortgage-dollar-roll transactions as purchases and sales; as such, these transactions may increase the portfolio's portfolio turnover rate. Amounts to be received or paid in connection with open mortgage dollar rolls are included in Receivables for Investment Securities Sold or Payables for Investment Securities Purchased in the Statement of Assets and Liabilities.

5. Repurchase Agreements: The portfolio enters into repurchase agreements with institutional counterparties. Securities pledged as collateral to the portfolio under repurchase agreements are held by a custodian bank until the agreements mature, and in the absence of a default, such collateral cannot be repledged, resold, or rehypothecated. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal. The portfolio further mitigates its counterparty risk by entering into repurchase agreements only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master repurchase agreements with its counterparties. The master repurchase agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any repurchase agreements with that counterparty, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio. Such action may be subject to legal proceedings, which may delay or limit the disposition of collateral.

6. Futures Contracts: The portfolio uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 1% and less than 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

7. Forward Currency Contracts: The portfolio enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. The portfolio's risks in using these contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts. The portfolio mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate the forward currency contracts, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the portfolio under the master netting arrangements. The forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the portfolio's

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Balanced Portfolio

net assets decline below a certain level, triggering a payment by the portfolio if the portfolio is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the portfolio has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

Forward currency contracts are valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on forward currency contracts.

During the year ended December 31, 2022, the portfolio's average investment in forward currency contracts represented 0% of net assets, based on the average of the notional amounts at each quarter-end during the period. The portfolio had no open forward currency contracts at December 31, 2022.

8. Swap Contracts: The portfolio invests in credit default swaps to adjust the overall credit risk of the portfolio or to actively overweight or underweight credit risk to a specific issuer or group of issuers. The portfolio may sell credit protection through credit default swaps to simulate investments in long positions that are either unavailable or considered to be less attractively priced in the bond market. The portfolio may purchase credit protection through credit default swaps to reduce credit exposure to a given issuer or issuers. Under the terms of the swaps, an up-front payment may be exchanged between the seller and buyer. In addition, the seller of the credit protection receives a periodic payment of premium from the buyer that is a fixed percentage applied to a notional amount. If, for example, the reference entity is subject to a credit event (such as bankruptcy, failure to pay, or obligation acceleration) during the term of the swap, the seller agrees to either physically settle or cash settle the swap contract. If the swap is physically settled, the seller agrees to pay the buyer an amount equal to the notional amount and take delivery of a debt instrument of the reference issuer with a par amount equal to such notional amount. If the swap is cash settled, the seller agrees to pay the buyer the difference between the notional amount and the final price for the relevant debt instrument, as determined either in a market auction or pursuant to a pre-agreed-upon valuation procedure.

The portfolio enters into centrally cleared credit default swaps to achieve the same objectives specified with respect to the equivalent over-the-counter swaps but with less counterparty risk because a regulated clearinghouse is the counterparty instead of the clearing broker or executing broker. The clearinghouse imposes initial margin requirements to secure the portfolio's performance, and requires daily settlement of variation margin representing changes in the market value of each contract. To further mitigate counterparty risk, the portfolio trades with a diverse group of prequalified executing brokers; monitors the financial strength of its clearing brokers, executing brokers, and clearinghouse; and has entered into agreements with its clearing brokers and executing brokers.

The primary risk associated with selling credit protection is that, upon the occurrence of a defined credit event, the market value of the debt instrument received by the portfolio (or, in a cash settled swap, the debt instruments used to determine the settlement payment by the portfolio) will be significantly less than the amount paid by the portfolio and, in a physically settled swap, the portfolio may receive an illiquid debt instrument. A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the portfolio. The portfolio's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The portfolio mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the portfolio may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the portfolio under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the portfolio's net assets decline below a certain level, triggering a payment by the portfolio if the portfolio is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the portfolio has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each

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Balanced Portfolio

counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the seller of credit protection is required to take delivery (or, in a cash settled swap, pay the settlement amount determined) upon occurrence of a credit event, periodic payments are made, or the swap terminates, at which time realized gain (loss) is recorded. The net premium to be received or paid by the portfolio under swap contracts is accrued daily and recorded as realized gain (loss) over the life of the contract.

During the year ended December 31, 2022, the portfolio's average amounts of investments in credit protection sold and credit protection purchased represented less than 1% of net assets, based on the average of the notional amounts at each quarter-end during the period. The portfolio had no open credit default swap contracts at December 31, 2022.

9. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

10. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

11. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

12. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

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Balanced Portfolio

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

13. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Taxes on foreign dividends and capital gains have been provided for in accordance with the portfolio's understanding of the applicable countries' tax rules and rates. Deferred foreign capital gains tax, if any, is accrued daily based upon net unrealized gains. The portfolio has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union countries. These filings are subject to various administrative and judicial proceedings within these countries. Amounts related to these reclaims are recorded when there are no significant uncertainties as to the ultimate resolution of proceedings, the likelihood of receipt of these reclaims, and the potential timing of payment. Such tax reclaims and related professional fees, if any, are included in dividend income and other expenses, respectively.

**B.** Wellington Management Company llp provides investment advisory services to the portfolio for a fee calculated at an annual percentage rate of average net assets. The basic fee is subject to quarterly
adjustments based on the portfolio's performance relative to the combined index comprising the S&P 500 Index and the Bloomberg Barclays U.S. Credit A or Better Bond Index for the preceding three years. For
the year ended December 31, 2022, the investment advisory fee represented an effective annual basic rate of 0.05% of the portfolio's average net assets, before a net decrease of $143,000 (less than 0.01%) based
on performance.

**C.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio corporate management,
administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by
the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $118,000, representing less than 0.01% of the portfolio's net assets and 0.05% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**D.** The portfolio has asked its investment advisor to direct certain security trades, subject to obtaining the best price and execution, to brokers who have agreed to rebate to the portfolio part of the commissions
generated. Such rebates are used solely to reduce the portfolio's management and administrative expenses. The portfolio's custodian bank has also agreed to reduce its fees when the portfolio maintains cash
on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, these arrangements reduced the portfolio's management and administrative expenses by $2,000 and custodian fees by
$1,000. The total expense reduction represented an effective annual rate of less than 0.01% of the portfolio's average net assets.

**E.** Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement
purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

------

Balanced Portfolio

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

The following table summarizes the market value of the portfolio's investments and derivatives as of December 31, 2022, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 1909152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144748 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2053900 |
| U.S. Government and Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277653 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277653 |
| Asset-Backed/Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24725 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24725 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;700056 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;700056 |
| Sovereign Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8393 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8393 |
| Taxable Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48198 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48198 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29600 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29611 |
| Total | 1909163 | &nbsp;&nbsp;&nbsp;1233373 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3142536 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Futures Contracts<sup>1</sup> | 143 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;143 |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13 |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

**F.** At December 31, 2022, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Statement of Assets and Liabilities | Interest Rate<br> Contracts<br> ($000) | Foreign<br> Exchange<br> Contracts<br> ($000) | Credit<br> Contracts<br> ($000) | &nbsp;&nbsp;Total<br> ($000) |
| Unrealized Appreciation—Futures Contracts<sup>1</sup> | 143 |  |  | &nbsp;&nbsp;143 |
| Total Assets | 143 |  |  | &nbsp;&nbsp;143 |
| Unrealized Depreciation—Futures Contracts<sup>1</sup> | 13 |  |  | &nbsp;&nbsp;13 |
| Total Liabilities | 13 |  |  | &nbsp;&nbsp;13 |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

Realized net gain (loss) and the change in unrealized appreciation (depreciation) on derivatives for the year ended December 31, 2022, were:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Realized Net Gain (Loss) on Derivatives | Interest Rate<br> Contracts<br> ($000) | Foreign<br> Exchange<br> Contracts<br> ($000) | Credit<br> Contracts<br> ($000) | &nbsp;&nbsp;Total<br> ($000) |
| Futures Contracts | (3623) |  |  | &nbsp;&nbsp;(3623) |
| Swap Contracts |  |  | 104 | &nbsp;&nbsp;104 |
| Forward Currency Contracts |  | (12) |  | &nbsp;&nbsp;(12) |
| Realized Net Gain (Loss) on Derivatives | (3623) | (12) | 104 | &nbsp;&nbsp;(3531) |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives |
| Futures Contracts | (3) |  |  | &nbsp;&nbsp;(3) |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | (3) |  |  | &nbsp;&nbsp;(3) |

---

**G.** Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no
effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable foreign currency transactions and swap agreements were reclassified
between the individual components of total distributable earnings (loss).

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Balanced Portfolio

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; the deferral of losses from straddles; the recognition of unrealized gains or losses from certain derivative contracts; and the treatment of amortization adjustments from certain fixed income securities. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;63343 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;128886 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;266109 |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;102569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79182 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;272635 | &nbsp;&nbsp;&nbsp;&nbsp;161176 |
| Total | &nbsp;&nbsp;&nbsp;375204 | &nbsp;&nbsp;&nbsp;&nbsp;240358 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;2876478 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;542441 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(276384) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;266057 |

---

**H.** During the year ended December 31, 2022, the portfolio purchased $658,050,000 of investment securities and sold $691,403,000 of investment securities, other than U.S. government securities and temporary cash
investments. Purchases and sales of U.S. government securities were $646,235,000 and $633,254,000, respectively.

The portfolio purchased securities from and sold securities to other funds or accounts managed by its investment advisor or their affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $5,563,000 and sales were $0; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

**I.** Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;13936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9605 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;15732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9716 |
| Redeemed | (18314) | &nbsp;&nbsp;(16345) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;11354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2976 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 65% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**J.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Balanced Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Balanced Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP <br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

------

#### Tax information (unaudited)
For corporate shareholders, 41.4%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $3,773,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $272,635,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

The portfolio hereby designates 30.5%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of Section 163(j) and the regulations thereunder for the fiscal year.

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"Bloomberg®" and Bloomberg U.S. Credit A or Better Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).

The Balanced Portfolio is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Balanced Portfolio or any member of the public regarding the advisability of investing in securities generally or in the Balanced Portfolio particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Credit A or Better Bond Index, which is determined, composed and calculated by BISL without regard to Vanguard or the Balanced Portfolio. Bloomberg has no obligation to take the needs of Vanguard or the owners of the Balanced Portfolio into consideration in determining, composing or calculating the Bloomberg U.S. Credit A or Better Bond Index. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Balanced Portfolio to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Balanced Portfolio customers, in connection with the administration, marketing or trading of the Balanced Portfolio.

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE BLOOMBERG U.S. CREDIT A OR BETTER BOND INDEX OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE BALANCED PORTFOLIO OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BLOOMBERG U.S. CREDIT A OR BETTER BOND INDEX OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE BLOOMBERG U.S. CREDIT A OR BETTER BOND INDEX OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE BALANCED PORTFOLIO OR BLOOMBERG U.S. CREDIT A OR BETTER BOND INDEX OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.© 2023 Bloomberg.

Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

------

![](tm231735d7balaporti006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

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All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

#### CFA<sup>®</sup> is a registered trademark owned by CFA Institute.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690B 022023

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![](tm231735d7capgrwtporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Capital Growth Portfolio

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*Contents*

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| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| Advisor's Report<br>| 2 |
| About Your Portfolio's Expenses<br>| 4 |
| Performance Summary<br>| 5 |
| Financial Statements<br>| 7 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

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Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Capital Growth Portfolio returned –15.48%, better than the
 –18.11% return of its benchmark, the Standard & Poor's 500 Index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.

• The portfolio outperformed its benchmark in five of 11 industry sectors. Underweights to energy and consumer staples and an overweight to industrials detracted the most from relative performance. An overweight
position and strong selection in health care helped the most; an underweight to communication services also contributed.

• For the decade ended December 31, 2022, the fund produced an average annual return of 13.75%, outperforming its benchmark by more than a percentage point.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

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| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

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Advisor's Report

For the 12 months ended December 31, 2022, the Vanguard Capital Growth Portfolio returned –15.48%, exceeding the –18.11% return of its benchmark, the unmanaged S&P 500 Index. Relative to the S&P 500, both sector allocation and stock selection were favorable.

#### Investment environment
Market conditions deteriorated abruptly in 2022. The year began with yet another bout of COVID, as the Omicron variant peaked in mid-January. But in this case the prognosis was mostly good: Omicron proved more disruptive than destructive, and ultimately COVID's grip on society was loosened.

Geopolitical hostility and widespread inflation, however, soon supplanted COVID as primary concerns. Russia's invasion-turned-quagmire in Ukraine devastated the region and continues to pose risks to Europe and the world. At home, savings-rich consumers increasingly returned to pre-COVID activities, forcing businesses into a hiring spree. By summertime, record-high job openings outnumbered job seekers two-to-one, reflecting an unprecedented imbalance between labor demand and supply. Inflation thus broadened and worsened during the period. Price spikes in goods and commodities hemorrhaged into stickier categories, like wages and services.

The Federal Reserve, chagrined by its earlier complacency, executed a dramatic hawkish pivot, punctuated by a series of aggressive interest rate hikes. The real economy stalled somewhat; despite solid nominal economic growth and a tight labor market, real (inflation-adjusted) gross domestic product declined during the first half of 2022 before bouncing back modestly in the second half. Yet the Fed resolved to further reduce economic activity, raising the prospects of a hard landing—that is, a recession.

Equities unsurprisingly faltered amid this tumult, plummeting nearly –20%. Elevated

inflation and rising interest rates weighed especially on high-valuation growth stocks; the communication services (–40%), consumer discretionary (–37%), and information technology (–28%) sectors lagged the broad market. Energy (+66%) fared best, boosted by higher oil prices. Defensive sectors also outperformed, including utilities (+2%), consumer staples (–1%), and health care (–2%).

#### Outlook for U.S. equities
Following a partial recovery in the fourth quarter, the S&P 500 Index's valuation returned to modestly elevated levels (16.7x price/expected earnings versus a 20-year average of 15.5x). But interest rates soared during the period, undermining a key rationale for above-average equity multiples; the current 3.9% yield of the 10-year U.S. Treasury note is comparable to its longer-term historical norm. Meanwhile, expectations for corporate earnings in 2023 have declined meaningfully from their mid-2022 peak but may still be too high. We remain wary of above-average macroeconomic risks, most obviously a Fed intent on reducing aggregate demand for goods and services. These concerns leave us somewhat cautious overall, even after the market's recalibration.

#### Portfolio update
The portfolio maintained large overweight positions in health care and industrials stocks; these sectors comprised 41% of average assets compared to their 22% combined average weighting in the S&P 500. Relative to the benchmark, the portfolio was roughly equally weighted in consumer discretionary, while information technology shifted to a slight underweight position. The portfolio maintained meaningful underweights in all other sectors, including consumer staples, communication services, energy, financials, materials, real estate, and utilities.

Sector allocation and stock selection both boosted results relative to the S&P 500.

The portfolio's significant health care overweight position proved beneficial, as did a large underweight position in communication services. Underweight positions in energy and consumer staples partially offset those advantages.

Selection strength was concentrated in the health care sector, as key biopharmaceutical holdings Eli Lilly (+34%), Amgen (+20%), AstraZeneca (+19%), and Biogen (+15%) all outperformed. Eli Lilly, the portfolio's largest position, was particularly important, logging another stellar year on the back of its new blockbuster obesity drug, tirzepatide. The portfolio also benefited from limited exposure to several mega-capitalization laggards, most notably Meta (–64%) in communication services and Amazon (–50%) in consumer discretionary. But several portfolio positions weighed on results: Tesla (–65%) and Sony (–39%) in consumer discretionary, FedEx (–32%) in industrials, and Intel (–47%), Micron (–46%), and Adobe (–41%) in information technology partially offset favorable selection elsewhere.

#### Advisor perspectives
We assess this year's developments as a potential paradigm shift in the market. Notwithstanding an occasional glitch, the period since the 2008 global financial crisis had been remarkably benign, marked by accommodative financial conditions, steady if modest global economic growth, and a relentless equity bull market. A pliant Federal Reserve, offering investors quasi-insurance in the form of a "Fed put," underwrote a "buy the dip" mentality that became ubiquitous.

But the COVID era—both the virus and especially the policy response to it—ultimately sowed enough dislocation to tip the proverbial apple cart. Ironically, it was COVID's abrupt fade, or at least its welcome shift to endemic status, that applied the final push. The mass normalization of society, coupled with two

------

years of excessive money supply growth, unleashed the worst inflation in 40 years.

The hallmarks of the prior paradigm—inflation, growth, and low interest rates—bred a certain type of winner. Growth stocks, for instance, dominated value stocks, and large-company stocks trumped small-company stocks; in the 13 calendar years from 2009 through 2021, growth and large outperformed their counterparts 10 times each. Growth outperformed value by 6.5 percentage points annually (the respective Russell 3000 indexes returned 19.1% and 12.6%), while large-caps outpaced small-caps by 2.3 percentage points annually (the Russell 1000 and Russell 2000 returned 16.1% and 13.8%, respectively). The ultimate winners were Big Tech stocks; the ascendance of Apple, Amazon, Alphabet, Meta, and Netflix (the so-called FAANG stocks) explains much of this large growth stock phenomenon.

A new paradigm would upend this dynamic, as investors migrate from yesterday's darlings to fresh leadership. During the year, FAANG stocks indeed struggled; Meta (–64%), Netflix (–51%), Amazon (–50%), Alphabet (–39%), and Apple (–26%) all underperformed the broad market. That said, picking the next winners is never straightforward. Despite largely avoiding the FAANG collapses, the portfolio faced its own idiosyncratic miscues. Other than several biopharmaceutical companies, our differentiated holdings often failed to deliver.

Tomorrow's longer-term winners are, as always, uncertain. The contours of this potential new paradigm have yet to take shape. Rapidly rising rates tend to break things, and we expect wreckage if the Fed perseveres. But eventually we believe a less Fed-centric market will arise, one where fundamentals and valuations feature more prominently than last decade's artificial backstop. We are optimistic our holdings' promising long-term fundamentals and attractive valuations will benefit from this evolution.

#### Conclusion
Our investment approach is vulnerable to extended periods of underperformance; mistakes and misfortune sometimes conspire, and the COVID era included plenty of both. But we see in the ongoing market reckoning a paradigm shift underway, and we are hopeful the portfolio's relative strength of late portends even better days ahead. We believe the portfolio is well positioned, and we are also searching for new opportunities amid the market carnage.

PRIMECAP Management Company

January 10, 2023

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Capital Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1026.40 | &nbsp;&nbsp;&nbsp;&nbsp;$1.74 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.73 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.34%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

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Capital Growth Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7capgrwtporti002.gif)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7capgrwtporti003.jpg) | &nbsp;&nbsp;&nbsp;Capital Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-15.48% | &nbsp;&nbsp;&nbsp;&nbsp;8.57% | &nbsp;&nbsp;&nbsp;&nbsp;13.75% | &nbsp;&nbsp;&nbsp;&nbsp;$36254 |
| ![](tm231735d7capgrwtporti004.jpg) | &nbsp;&nbsp;&nbsp;S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;32654 |

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See Financial Highlights for dividend and capital gains information.

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Capital Growth Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Communication Services | &nbsp;&nbsp;&nbsp;5.4% |
| Consumer Discretionary | 10.4 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;0.1 |
| Energy | &nbsp;&nbsp;&nbsp;2.5 |
| Financials | &nbsp;&nbsp;&nbsp;6.9 |
| Health Care | 33.5 |
| Industrials | 13.7 |
| Information Technology | 26.0 |
| Materials | &nbsp;&nbsp;&nbsp;1.5 |

---

The table reflects the portfolio's investments, except for short-term investments. Sector categories are based on the Global Industry Classification Standard ("GICS"), except for the "Other" category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard and Poor's, a division of McGraw-Hill Companies, Inc. ("S&P"), and is licensed for use by Vanguard. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of its affiliates or any third party involved in making or compiling the GICS or any GICS classification have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

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Capital Growth Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

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| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Common Stocks (95.5%)** | **Common Stocks (95.5%)** | **Common Stocks (95.5%)** | **Common Stocks (95.5%)** |
| **Communication Services (5.2%)** | **Communication Services (5.2%)** | **Communication Services (5.2%)** | **Communication Services (5.2%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;25322 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class C | &nbsp;&nbsp;&nbsp;&nbsp;167400 | &nbsp;&nbsp;&nbsp;&nbsp;14853 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Baidu Inc. ADR | &nbsp;&nbsp;&nbsp;&nbsp;125600 | &nbsp;&nbsp;&nbsp;&nbsp;14366 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;92300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8019 |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6989 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Charter Communications Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1831 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Live Nation Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893 |
| **** |  |  | **73777** |
| **Consumer Discretionary (10.0%)** | **Consumer Discretionary (10.0%)** | **Consumer Discretionary (10.0%)** | **Consumer Discretionary (10.0%)** |
|  | &nbsp;&nbsp;&nbsp;Sony Group Corp. ADR | &nbsp;&nbsp;&nbsp;&nbsp;322400 | &nbsp;&nbsp;&nbsp;&nbsp;24593 |
|  | &nbsp;&nbsp;&nbsp;Ross Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;182800 | &nbsp;&nbsp;&nbsp;&nbsp;21217 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;233100 | &nbsp;&nbsp;&nbsp;&nbsp;20534 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tesla Inc. | &nbsp;&nbsp;&nbsp;&nbsp;147400 | &nbsp;&nbsp;&nbsp;&nbsp;18157 |
|  | &nbsp;&nbsp;&nbsp;TJX Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;192500 | &nbsp;&nbsp;&nbsp;&nbsp;15323 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Mattel Inc. | &nbsp;&nbsp;&nbsp;&nbsp;615200 | &nbsp;&nbsp;&nbsp;&nbsp;10975 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70900 | &nbsp;&nbsp;&nbsp;&nbsp;10029 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | &nbsp;&nbsp;&nbsp;&nbsp;82800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6955 |
|  | &nbsp;&nbsp;&nbsp;Bath & Body Works Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3839 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;42600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2106 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dollar Tree Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Flutter Entertainment plc (XDUB) | &nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1503 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Carnival Corp. | &nbsp;&nbsp;&nbsp;&nbsp;158300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1251 |
| **** |  |  | **141319** |
| **Consumer Staples (0.1%)** | **Consumer Staples (0.1%)** | **Consumer Staples (0.1%)** | **Consumer Staples (0.1%)** |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751 |
| **Energy (2.4%)** | **Energy (2.4%)** | **Energy (2.4%)** | **Energy (2.4%)** |
|  | &nbsp;&nbsp;&nbsp;Hess Corp. | &nbsp;&nbsp;&nbsp;&nbsp;124400 | &nbsp;&nbsp;&nbsp;&nbsp;17643 |
|  | &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. | &nbsp;&nbsp;&nbsp;&nbsp;53800 | &nbsp;&nbsp;&nbsp;&nbsp;12287 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4235 |
| **** |  |  | **34165** |
| **Financials (6.6%)** | **Financials (6.6%)** | **Financials (6.6%)** | **Financials (6.6%)** |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;684100 | &nbsp;&nbsp;&nbsp;&nbsp;28247 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;143200 | &nbsp;&nbsp;&nbsp;&nbsp;19203 |
|  | &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73900 | &nbsp;&nbsp;&nbsp;&nbsp;12229 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;331400 | &nbsp;&nbsp;&nbsp;&nbsp;10976 |
|  | &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;96350 | &nbsp;&nbsp;&nbsp;&nbsp;10295 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3680 |
|  | &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;61500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2682 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434 |

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| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;CME Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429 |
| **** |  |  | **92912** |
| **Health Care (32.0%)** | **Health Care (32.0%)** | **Health Care (32.0%)** | **Health Care (32.0%)** |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;350571 | &nbsp;&nbsp;&nbsp;&nbsp;128253 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Biogen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;208300 | &nbsp;&nbsp;&nbsp;&nbsp;57682 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;215371 | &nbsp;&nbsp;&nbsp;&nbsp;56565 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc ADR | &nbsp;&nbsp;&nbsp;&nbsp;601900 | &nbsp;&nbsp;&nbsp;&nbsp;40809 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54500 | &nbsp;&nbsp;&nbsp;&nbsp;30013 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;640902 | &nbsp;&nbsp;&nbsp;&nbsp;29654 |
|  | &nbsp;&nbsp;&nbsp;Novartis AG ADR | &nbsp;&nbsp;&nbsp;&nbsp;247350 | &nbsp;&nbsp;&nbsp;&nbsp;22440 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;279900 | &nbsp;&nbsp;&nbsp;&nbsp;20139 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;BioMarin Pharmaceutical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;146500 | &nbsp;&nbsp;&nbsp;&nbsp;15161 |
|  | &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;40007 | &nbsp;&nbsp;&nbsp;&nbsp;12572 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;BeiGene Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7478 |
|  | &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;63900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7015 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5815 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5801 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Elanco Animal Health Inc. (XNYS) | &nbsp;&nbsp;&nbsp;&nbsp;340416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4160 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993 |
|  | &nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp;31300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2433 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;IQVIA Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2090 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2054 |
| **** |  |  | **453127** |
| **Industrials (13.0%)** | **Industrials (13.0%)** | **Industrials (13.0%)** | **Industrials (13.0%)** |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;211300 | &nbsp;&nbsp;&nbsp;&nbsp;36597 |
|  | &nbsp;&nbsp;&nbsp;Siemens AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;190334 | &nbsp;&nbsp;&nbsp;&nbsp;26238 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp;646650 | &nbsp;&nbsp;&nbsp;&nbsp;21773 |
|  | &nbsp;&nbsp;&nbsp;Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp;111954 | &nbsp;&nbsp;&nbsp;&nbsp;13311 |
|  | &nbsp;&nbsp;&nbsp;Caterpillar Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53400 | &nbsp;&nbsp;&nbsp;&nbsp;12792 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;57700 | &nbsp;&nbsp;&nbsp;&nbsp;11948 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;United Airlines Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;309900 | &nbsp;&nbsp;&nbsp;&nbsp;11683 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Delta Air Lines Inc. | &nbsp;&nbsp;&nbsp;&nbsp;254800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8373 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;American Airlines Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6805 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;35850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6232 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5459 |
|  | &nbsp;&nbsp;&nbsp;TransDigm Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4691 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alaska Air Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;108100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4642 |
|  | &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;73800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2655 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;77700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2407 |
|  | &nbsp;&nbsp;&nbsp;JB Hunt Transport Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2110 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1664 |
| **** |  |  | **184911** |
| **Information Technology (24.8%)** | **Information Technology (24.8%)** | **Information Technology (24.8%)** | **Information Technology (24.8%)** |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;198400 | &nbsp;&nbsp;&nbsp;&nbsp;47580 |
|  | &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;271800 | &nbsp;&nbsp;&nbsp;&nbsp;44907 |
|  | &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;98500 | &nbsp;&nbsp;&nbsp;&nbsp;37137 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Adobe Inc. | &nbsp;&nbsp;&nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;36009 |
|  | &nbsp;&nbsp;&nbsp;Micron Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;572700 | &nbsp;&nbsp;&nbsp;&nbsp;28624 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;698500 | &nbsp;&nbsp;&nbsp;&nbsp;18461 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;185600 | &nbsp;&nbsp;&nbsp;&nbsp;15171 |
|  | &nbsp;&nbsp;&nbsp;Intuit Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32300 | &nbsp;&nbsp;&nbsp;&nbsp;12572 |
|  | &nbsp;&nbsp;&nbsp;NetApp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;207800 | &nbsp;&nbsp;&nbsp;&nbsp;12480 |
|  | &nbsp;&nbsp;&nbsp;Visa Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;51800 | &nbsp;&nbsp;&nbsp;&nbsp;10762 |
|  | &nbsp;&nbsp;&nbsp;Analog Devices Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65600 | &nbsp;&nbsp;&nbsp;&nbsp;10760 |
|  | &nbsp;&nbsp;&nbsp;HP Inc. | &nbsp;&nbsp;&nbsp;&nbsp;362350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9736 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9675 |
|  | &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;575050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9178 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Splunk Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7602 |
|  | &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;48400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7073 |
|  | &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson ADR | 1085700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6341 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;117600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5602 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4911 |
|  | &nbsp;&nbsp;&nbsp;Entegris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3365 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3325 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3097 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | &nbsp;&nbsp;&nbsp;&nbsp;96250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3074 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709 |
|  | &nbsp;&nbsp;&nbsp;Mastercard Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1634 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Autodesk Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;BlackBerry Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;148000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483 |
| **** |  |  | **352371** |
| **Materials (1.4%)** | **Materials (1.4%)** | **Materials (1.4%)** | **Materials (1.4%)** |
|  | &nbsp;&nbsp;&nbsp;Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5660 |
|  | &nbsp;&nbsp;&nbsp;Glencore plc | &nbsp;&nbsp;&nbsp;&nbsp;702066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4682 |
|  | &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2647 |
|  | &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2489 |
|  | &nbsp;&nbsp;&nbsp;Linde plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2055 |
|  | &nbsp;&nbsp;&nbsp;Corteva Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804 |
|  | &nbsp;&nbsp;&nbsp;Dow Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 |
| **** |  |  | **20247** |
| **Total Common Stocks<br> (Cost $921,280)** | **Total Common Stocks<br> (Cost $921,280)** | **Total Common Stocks<br> (Cost $921,280)** | **1354580** |
| **Temporary Cash Investments (4.4%)** | **Temporary Cash Investments (4.4%)** | **Temporary Cash Investments (4.4%)** | **Temporary Cash Investments (4.4%)** |
| **Money Market Fund (4.4%)** | **Money Market Fund (4.4%)** | **Money Market Fund (4.4%)** | **Money Market Fund (4.4%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% **(Cost $63,111)** | &nbsp;&nbsp;&nbsp;&nbsp;631154 | **63109** |
| **Total Investments (99.9%) (Cost $984,391)** | **Total Investments (99.9%) (Cost $984,391)** | **Total Investments (99.9%) (Cost $984,391)** | **1417689** |
| **Other Assets and Liabilities—Net (0.1%)** | **Other Assets and Liabilities—Net (0.1%)** | **Other Assets and Liabilities—Net (0.1%)** | **922** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **1418611** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| \* | Non-income-producing security. |
| 1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
|  | ADR—American Depositary Receipt. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Capital Growth Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $921,280) | 1354580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $63,111) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63109 |
| Total Investments in Securities | &nbsp;&nbsp;1417689 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1730 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 |
| **Total Assets** | &nbsp;&nbsp;**1419728** |
| **Liabilities** |  |
| Due to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236 |
| Payables to Investment Advisor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1117** |
| **Net Assets** | &nbsp;&nbsp;**1418611** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;&nbsp;&nbsp;889322 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;529289 |
| **Net Assets** | &nbsp;&nbsp;**1418611** |
| **Net Assets** |  |
| **Applicable to 36,549,564 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**1418611** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$38.81** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Capital Growth Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;21176 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Total Income | &nbsp;&nbsp;&nbsp;22169 |
| **Expenses** |  |
| Investment Advisory Fees—Note B | &nbsp;&nbsp;&nbsp;&nbsp;2263 |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;2673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;5124 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;**17045** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2</sup> | &nbsp;&nbsp;&nbsp;80141 |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;**80144** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | (365792) |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25) |
| **Change in Unrealized Appreciation (Depreciation)** | **(365817)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(268628)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $414,000. |
| 2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $987,000, less than $1,000, less than $1,000, and $3,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13998 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503946 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(365817) | &nbsp;&nbsp;&nbsp;&nbsp;(120020) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(268628) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397924 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(157677) | &nbsp;&nbsp;&nbsp;&nbsp;(175523) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;130652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196815 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;157677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175523 |
| Redeemed | &nbsp;&nbsp;&nbsp;(218431) | &nbsp;&nbsp;&nbsp;&nbsp;(912117) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69898 | &nbsp;&nbsp;&nbsp;&nbsp;(539779) |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(356407) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(317378) |
| **Net Assets** |  |  |
| **Beginning of Period** | **1775018** | &nbsp;&nbsp;&nbsp;**2092396** |
| **End of Period** | &nbsp;&nbsp;**1418611** | &nbsp;&nbsp;&nbsp;**1775018** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Capital Growth Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$50.69** | &nbsp;&nbsp;&nbsp;**$45.21** | &nbsp;&nbsp;&nbsp;**$40.76** | &nbsp;&nbsp;&nbsp;**$33.49** | &nbsp;&nbsp;&nbsp;**$35.12** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.429 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7.744) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.754) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7.276) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.325) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.390) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.480) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.574) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.315) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.214) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.355) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.222) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.004) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.990) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.604) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.796) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.415) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.305) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$38.81** | &nbsp;&nbsp;&nbsp;**$50.69** | &nbsp;&nbsp;&nbsp;**$45.21** | &nbsp;&nbsp;&nbsp;**$40.76** | &nbsp;&nbsp;&nbsp;**$33.49** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-15.48%** | &nbsp;&nbsp;&nbsp;**21.54%** | &nbsp;&nbsp;&nbsp;**17.47%** | &nbsp;&nbsp;&nbsp;**26.50%** | &nbsp;&nbsp;&nbsp;**-1.18%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$1419 | &nbsp;&nbsp;&nbsp;$1775 | &nbsp;&nbsp;&nbsp;$2092 | &nbsp;&nbsp;&nbsp;$1976 | &nbsp;&nbsp;&nbsp;$1596 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;0.34% | &nbsp;&nbsp;&nbsp;0.34% | &nbsp;&nbsp;&nbsp;0.34% | &nbsp;&nbsp;&nbsp;0.34% | &nbsp;&nbsp;&nbsp;0.34% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.13% | &nbsp;&nbsp;&nbsp;0.73% | &nbsp;&nbsp;&nbsp;1.25% | &nbsp;&nbsp;&nbsp;1.37% | &nbsp;&nbsp;&nbsp;1.18% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;3% | &nbsp;&nbsp;&nbsp;5%<sup>2</sup> | &nbsp;&nbsp;&nbsp;6% | &nbsp;&nbsp;&nbsp;5% | &nbsp;&nbsp;&nbsp;6% |

---

1 Calculated based on average shares outstanding. <br> 2 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the portfolio's capital shares.

See accompanying Notes, which are an integral part of the Financial Statements.

------

Capital Growth Portfolio

Notes to Financial Statements

The Capital Growth Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the portfolio's pricing time. When fair-value pricing is employed, the prices of securities used by a portfolio to calculate its net asset value may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the portfolio's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending

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Capital Growth Portfolio

income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

6. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** PRIMECAP Management Company provides investment advisory services to the portfolio for a fee calculated at an annual percentage rate of average net assets. For the year ended December 31, 2022, the investment
advisory fee represented an effective annual basic rate of 0.15% of the portfolio's average net assets.

**C.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio corporate management,
administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by
the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $55,000, representing less than 0.01% of the portfolio's net assets and 0.02% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**D.** Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value
securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

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Capital Growth Portfolio

The following table summarizes the market value of the portfolio's investments as of December 31, 2022, based on the inputs used to value them:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;1296274 | &nbsp;&nbsp;&nbsp;58306 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1354580 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63109 |
| Total | 1359383 | &nbsp;&nbsp;&nbsp;58306 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1417689 |

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**E.** Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no
effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable foreign currency transactions were reclassified between the individual
components of total distributable earnings (loss).

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences if any, will reverse at some time in the future. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;15841 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;80139 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;433309 |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;&nbsp;13352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21857 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;144325 | &nbsp;&nbsp;&nbsp;&nbsp;153666 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;157677 | &nbsp;&nbsp;&nbsp;&nbsp;175523 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;&nbsp;984391 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;559635 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;(126337) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;433298 |

---

**F.** During the year ended December 31, 2022, the portfolio purchased $41,255,000 of investment securities and sold $127,311,000 of investment securities, other than temporary cash investments.

**G.** Capital shares issued and redeemed were:

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| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;3146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4068 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;3557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3846 |
| Redeemed | (5169) | &nbsp;&nbsp;(19180) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;1534 | &nbsp;&nbsp;(11266) |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 55% of the portfolio's net assets. If this shareholder were to redeem its

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Capital Growth Portfolio

investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**H.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Capital Growth Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Capital Growth Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 15, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

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#### Tax information (unaudited)
For corporate shareholders, 100%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $221,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $144,325,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

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![](tm231735d7capgrwtporti005.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690CG 022023

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![](tm231735d7conalloporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Conservative Allocation Portfolio

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*Contents*

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| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

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Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Conservative Allocation Portfolio returned –14.90%, in line
with its benchmark index, the Conservative Allocation Composite Index, after factoring in the portfolio's expenses.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which weighed on bond prices and increased fears of recession.

• The portfolio targets an asset allocation of approximately 60% bonds and 40% stocks through these holdings: Vanguard Variable Insurance Funds Total Bond Market Index Portfolio and Equity Index Portfolio and
Admiral™ Shares of Vanguard Total International Bond Index Fund, Vanguard Total International Stock Index Fund, and Vanguard Extended Market Index Fund.

• The Total International Bond Index Fund return helped performance the most at –12.92%; the Total Bond Market Index Portfolio returned –13.21%. The Total International Stock Index Fund returned
 –16.01%, the Equity Index Portfolio –18.23%, and the Extended Market Index Fund –26.47%.

• The portfolio recorded an average annual return of 4.52% for the 10 years ended December 31, 2022, in line with its benchmark average of 4.76%.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

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| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. The Conservative Allocation Portfolio has no direct expenses, but bears its proportionate share of the costs for the underlying funds in which it invests. These indirect expenses make up the acquired fund fees and expenses, also expressed as a percentage of average net assets. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The costs were calculated using the acquired fund fees and expenses for the Conservative Allocation Portfolio.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Conservative Allocation Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$992.10 | &nbsp;&nbsp;&nbsp;&nbsp;$0.65 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.66 |

---

The calculations are based on acquired fund fees and expenses for the most recent six-month period. The underlying portfolios' annualized expense figure for that period is 0.13%. The dollar amounts shown as "Expenses Paid" are equal to the annualized average weighted expense ratio for the underlying funds multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

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Conservative Allocation Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7conalloporti002.gif)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7conalloporti003.jpg) | &nbsp;&nbsp;&nbsp;Conservative Allocation Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-14.90% | &nbsp;&nbsp;&nbsp;&nbsp;2.52% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.52% | &nbsp;&nbsp;&nbsp;&nbsp;$15555 |
| ![](tm231735d7conalloporti004.jpg) | &nbsp;&nbsp;&nbsp;Conservative Allocation Composite Index | &nbsp;&nbsp;&nbsp;&nbsp;-14.51 | &nbsp;&nbsp;&nbsp;&nbsp;2.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15915 |
| ![](tm231735d7conalloporti005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

Conservative Allocation Composite Index: Weighted 42% Bloomberg U.S. Aggregate Float Adjusted Index, 24% S&P Total Market Index, 18% Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), and 16% FTSE Global All Cap ex US Index as of April 1, 2017. Weighted 48% Bloomberg U.S. Aggregate Float Adjusted Index, 28% S&P Total Market Index, 12% Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), and 12% FTSE Global All Cap ex US Index through March 31, 2017. Previously, the composite was weighted 60% Bloomberg U.S. Aggregate Float Adjusted Index, 28% S&P Total Market Index, and 12% MSCI ACWI ex USA IMI Index through June 2, 2013.

See Financial Highlights for dividend and capital gains information.

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Conservative Allocation Portfolio

Underlying Vanguard Funds

As of December 31, 2022

---

| | |
|:---|:---|
| Vanguard Variable Insurance Funds—Total Bond Market Index Portfolio | 42.1% |
| Vanguard Variable Insurance Funds—Equity Index Portfolio | 20.2 |
| Vanguard Total International Bond Index Fund Admiral Shares | &nbsp;&nbsp;17.7 |
| Vanguard Total International Stock Index Fund Admiral Shares | 16.4 |
| Vanguard Extended Market Index Fund Admiral Shares | &nbsp;&nbsp;&nbsp;3.6 |

---

The table reflects the portfolio's investments, except for short-term investments.

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Conservative Allocation Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | |
|:---|:---|:---|
|  | Shares | Market<br> Value• ($000) |
| **Investment Companies (100.0%)** | **Investment Companies (100.0%)** | **Investment Companies (100.0%)** |
| **U.S. Stock Funds (23.8%)** | **U.S. Stock Funds (23.8%)** | **U.S. Stock Funds (23.8%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Variable Insurance Funds—Equity Index Portfolio | &nbsp;&nbsp; 1716088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87074 |
| &nbsp;&nbsp;&nbsp;Vanguard Extended Market Index Fund Admiral Shares | &nbsp;&nbsp; 155554 | &nbsp;&nbsp;&nbsp;&nbsp; 15687 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**102761** |
| **International Stock Fund (16.4%)** | **International Stock Fund (16.4%)** | **International Stock Fund (16.4%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Total International Stock Index Fund Admiral Shares | 2535905 | &nbsp;&nbsp;&nbsp;&nbsp; 70651 |
| **U.S. Bond Fund (42.1%)** | **U.S. Bond Fund (42.1%)** | **U.S. Bond Fund (42.1%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Variable Insurance Funds—Total Bond Market Index Portfolio | &nbsp;&nbsp;&nbsp;17611167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181747 |
| **International Bond Fund (17.7%)** | **International Bond Fund (17.7%)** | **International Bond Fund (17.7%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Total International Bond Index Fund Admiral Shares | 4045997 | &nbsp;&nbsp;&nbsp;&nbsp; 76631 |
| **Total Investment Companies (Cost $478,009)** | **Total Investment Companies (Cost $478,009)** | &nbsp;&nbsp;&nbsp;&nbsp;**431790** |
| **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** |
| **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% **(Cost $17)** | &nbsp;&nbsp; 171 | **17** |
| **Total Investments (100.0%) (Cost $478,026)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**431807** |
| **Other Assets and Liabilities—Net (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(111)** |
| **Net Assets (100%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**431696** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

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Conservative Allocation Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value—Affiliated Funds (Cost $478,026) | 431807 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 |
| **Total Assets** | **431846** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**150** |
| **Net Assets** | **431696** |
| <br> **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | 458482 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;(26786) |
| **Net Assets** | **431696** |
| **Net Assets** |  |
| **Applicable to 18,976,987 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **431696** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;**$22.75** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Conservative Allocation Portfolio

Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Income Distributions Received from Affiliated Funds | &nbsp;&nbsp;&nbsp;8847 |
| **Net Investment Income—Note B** | &nbsp;&nbsp;&nbsp;**8847** |
| **Realized Net Gain (Loss)** |  |
| Capital Gain Distributions Received from Affiliated Funds | &nbsp;&nbsp;&nbsp;5724 |
| Affiliated Funds Sold | &nbsp;&nbsp;&nbsp;5416 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;**11132** |
| **Change in Unrealized Appreciation (Depreciation) from Affiliated Funds** | **(99783)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(79804)** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Conservative Allocation Portfolio

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;8847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11746 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;11132 | &nbsp;&nbsp;&nbsp;&nbsp;21001 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;(99783) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1465) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;(79804) | &nbsp;&nbsp;&nbsp;&nbsp;31282 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;(32935) | &nbsp;&nbsp;&nbsp;&nbsp;(26291) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;44556 | &nbsp;&nbsp;&nbsp;&nbsp;80224 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;32935 | &nbsp;&nbsp;&nbsp;&nbsp;26291 |
| Redeemed | &nbsp;&nbsp;&nbsp;(81774) | &nbsp;&nbsp;&nbsp;&nbsp;(84112) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;(4283) | &nbsp;&nbsp;&nbsp;&nbsp;22403 |
| Total Increase (Decrease) | &nbsp;&nbsp;(117022) | &nbsp;&nbsp;&nbsp;&nbsp;27394 |
| **Net Assets** |  |  |
| **Beginning of Period** | **548718** | &nbsp;&nbsp;&nbsp;**521324** |
| **End of Period** | **431696** | &nbsp;&nbsp;&nbsp;**548718** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Conservative Allocation Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$28.60** | &nbsp;&nbsp;&nbsp;**$28.40** | &nbsp;&nbsp;&nbsp;**$26.53** | &nbsp;&nbsp;&nbsp;**$24.02** | &nbsp;&nbsp;&nbsp;**$25.84** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.581 |
| Capital Gain Distributions Received<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.100 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.840) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.417) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.089) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.736) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.639) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.440) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.631) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.585) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.519) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.122) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.982) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.387) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.603) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.565) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.761) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.422) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.018) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.188) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.084) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$22.75** | &nbsp;&nbsp;&nbsp;**$28.60** | &nbsp;&nbsp;&nbsp;**$28.40** | &nbsp;&nbsp;&nbsp;**$26.53** | &nbsp;&nbsp;&nbsp;**$24.02** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-14.90%** | &nbsp;&nbsp;&nbsp;**5.99%** | &nbsp;&nbsp;&nbsp;**11.73%** | &nbsp;&nbsp;&nbsp;**15.83%** | &nbsp;&nbsp;&nbsp;**-2.98%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$432 | &nbsp;&nbsp;&nbsp;$549 | &nbsp;&nbsp;&nbsp;$521 | &nbsp;&nbsp;&nbsp;$425 | &nbsp;&nbsp;&nbsp;$321 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Acquired Fund Fees and Expenses | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.89% | &nbsp;&nbsp;&nbsp;2.17% | &nbsp;&nbsp;&nbsp;1.90% | &nbsp;&nbsp;&nbsp;2.61% | &nbsp;&nbsp;&nbsp;2.33% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;10% | &nbsp;&nbsp;&nbsp;12% | &nbsp;&nbsp;&nbsp;27% | &nbsp;&nbsp;&nbsp;10% | &nbsp;&nbsp;&nbsp;18% |

---

1 Calculated based on average shares outstanding.

See accompanying Notes, which are an integral part of the Financial Statements.

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Conservative Allocation Portfolio

Notes to Financial Statements

The Conservative Allocation Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio follows a balanced investment strategy by investing in selected Vanguard funds and portfolios to achieve its targeted allocation of assets to U.S. and international stocks, and U.S. and international bonds. Financial statements and other information about each underlying fund and portfolio are available at www.vanguard.com. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial statements.

1. Security Valuation: Investments are valued at the net asset value of each underlying Vanguard fund determined as of the close of the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date.

2. Futures Contracts: The portfolio uses stock and bond futures contracts to a limited extent, with the objectives of maintaining full exposure to the market and maintaining its target asset allocation. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of investments held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented less than 1% of net assets, based on the average of the notional amounts at each quarter-end during the period. The portfolio had no open futures contracts at December 31, 2022.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and borne by the funds in which the portfolio invests (see Note B). Any borrowings under either facility bear interest at an

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Conservative Allocation Portfolio

agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

6. Other: Income and capital gain distributions received are recorded on the ex-dividend date.

Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of trustees. The FSA provides that expenses otherwise allocable to Vanguard funds-of-funds may be reduced or eliminated to the extent of savings realized by the underlying Vanguard funds by virtue of being part of a fund-of-funds. Accordingly, all expenses for services provided by Vanguard to the portfolio and all other expenses incurred by the portfolio during the period ended December 31, 2022, were borne by the underlying Vanguard funds in which the portfolio invests. The portfolio's trustees and officers are also trustees and officers, respectively, of the underlying Vanguard funds, as well as directors and employees, respectively, of Vanguard.

C. Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments was determined based on Level 1 inputs.

D. Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8390 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;11190 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(46366) |

---

------

Conservative Allocation Portfolio

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;12798 | &nbsp;&nbsp;&nbsp;&nbsp;12555 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;20137 | &nbsp;&nbsp;&nbsp;&nbsp;13736 |
| Total | &nbsp;&nbsp;&nbsp;32935 | &nbsp;&nbsp;&nbsp;&nbsp;26291 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;478173 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;11110 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(57476) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(46366) |

---

E. Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022 | &nbsp;&nbsp;2021 |
|  | Shares<br> (000) | &nbsp;&nbsp;Shares<br> (000) |
| Issued | &nbsp;&nbsp;1802 | &nbsp;&nbsp;&nbsp;&nbsp;2842 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;1307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 |
| Redeemed | (3321) | &nbsp;&nbsp;(2981) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;&nbsp;(212) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 78% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might lead to the realization of taxable capital gains.

------

Conservative Allocation Portfolio

F. Transactions during the period in affiliated underlying Vanguard funds were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions |  |
|  | Dec. 31, 2021<br> Market Value<br> ($000) | Purchases<br> at Cost<br> ($000) | Proceeds<br> from<br> Securities<br> Sold<br> ($000) | Realized<br> Net Gain<br> (Loss)<br> ($000) | Change in<br> Unrealized<br> App. (Dep.)<br> ($000) | Income<br> ($000) | Capital Gain<br> Distributions<br> Received<br> ($000) | Dec. 31, 2022<br> Market Value<br> ($000) |
| Vanguard Extended Market Index Fund | &nbsp;&nbsp;22384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;(6414) | &nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;15687 |
| Vanguard Market Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Vanguard Total International Bond Index Fund | &nbsp;&nbsp;&nbsp;97214 | &nbsp;&nbsp;&nbsp;3846 | &nbsp;&nbsp;11189 | &nbsp;&nbsp;&nbsp;&nbsp;(636) | (12604) | 1149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;76631 |
| Vanguard Total International Stock Index Fund | &nbsp;&nbsp;89655 | &nbsp;&nbsp;&nbsp;8619 | 12009 | &nbsp;&nbsp;1595 | &nbsp;&nbsp;(17209) | 2155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;70651 |
| Vanguard Variable Insurance Funds—Equity Index Portfolio | 110814 | 20025 | &nbsp;&nbsp;19199 | &nbsp;&nbsp;5289 | (29855) | 1279 | 4276 | &nbsp;&nbsp;&nbsp;&nbsp;87074 |
| Vanguard Variable Insurance Funds—Total Bond Market Index Portfolio | 228574 | 15232 | &nbsp;&nbsp;27146 | (1212) | (33701) | 4082 | 1448 | &nbsp;&nbsp;181747 |
| Total | 548665 | &nbsp;&nbsp;48019 | 70503 | &nbsp;&nbsp;5416 | (99783) | 8847 | 5724 | 431807 |

---

1 Not applicable—purchases and sales are for temporary cash investment purposes.

G. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

------

#### Report of Independent Registered

#### Public Accounting Firm
To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Conservative ‎Allocation Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of ‎investments, of Conservative Allocation Portfolio (one of the portfolios constituting Vanguard Variable ‎Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement ‎of operations for the year ended December 31, 2022, the statement of changes in net assets for each of ‎the two years in the period ended December 31, 2022, including the related notes, and the financial ‎highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as ‎the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, ‎the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year ‎then ended, the changes in its net assets for each of the two years in the period ended December 31, ‎‎2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in ‎conformity with accounting principles generally accepted in the United States of America. ‎

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to ‎express an opinion on the Portfolio's financial statements based on our audits. We are a public ‎accounting firm registered with the Public Company Accounting Oversight Board (United States) ‎‎(PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. ‎federal securities laws and the applicable rules and regulations of the Securities and Exchange ‎Commission and the PCAOB. ‎

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. ‎Those standards require that we plan and perform the audit to obtain reasonable assurance about whether ‎the financial statements are free of material misstatement, whether due to error or fraud. ‎

Our audits included performing procedures to assess the risks of material misstatement of the financial ‎statements, whether due to error or fraud, and performing procedures that respond to those risks. Such ‎procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the ‎financial statements. Our audits also included evaluating the accounting principles used and significant ‎estimates made by management, as well as evaluating the overall presentation of the financial ‎statements. Our procedures included confirmation of securities owned as of December 31, 2022 by ‎correspondence with the transfer agent. We believe that our audits provide a reasonable basis for our ‎opinion.‎

‎ /s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 15, 2023‎

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds ‎since 1975.

------

Tax information (unaudited)

For corporate shareholders, 16.7%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $1,491,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $20,137,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

The portfolio hereby designates 33.8%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of section 163(j) and the regulations thereunder for the fiscal year.

The portfolio designates to shareholders foreign source income of $3,336,000 and foreign taxes paid of $211,000, or if subsequently determined to be different, the maximum amounts allowable by law. Form 1099-DIV reports calendar-year amounts that can be included on the income tax return of shareholders.

------

"Bloomberg®," Bloomberg U.S. Aggregate Float Adjusted Index, and Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).

The Conservative Allocation Portfolio is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Conservative Allocation Portfolio or any member of the public regarding the advisability of investing in securities generally or in the Conservative Allocation Portfolio particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Aggregate Float Adjusted Index and Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) (the Indices), which are determined, composed and calculated by BISL without regard to Vanguard or the Conservative Allocation Portfolio. Bloomberg has no obligation to take the needs of Vanguard or the owners of the Conservative Allocation Portfolio into consideration in determining, composing or calculating the Indices. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Conservative Allocation Portfolio to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Conservative Allocation Portfolio customers, in connection with the administration, marketing or trading of the Conservative Allocation Portfolio.

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE CONSERVATIVE ALLOCATION PORTFOLIO OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDICES OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE CONSERVATIVE ALLOCATION PORTFOLIO OR THE INDICES OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.© 2023 Bloomberg.

Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of

IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

------

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services

(2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. McIsaac** | **Lauren Valente** |

---

------

![](tm231735d7conalloporti006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People<br> Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your portfolio on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690CA 022023

------

![](tm231735d7divervalporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Diversified Value Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| Advisors' Report<br>| 2 |
| About Your Portfolio's Expenses<br>| 4 |
| Performance Summary<br>| 5 |
| Financial Statements<br>| 7 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Diversified Value Portfolio returned –11.49%, trailing the
 –7.54% return of its benchmark, the Russell 1000 Value Index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.

• Value stocks outperformed growth stocks by a wide margin for the 12 months. The broad U.S. stock market, as measured by the CRSP US Total Market Index, returned –19.49%.

• The advisor's holdings in energy contributed most to results. An overweight allocation to information technology and underweight allocation to health care detracted from relative performance, as did holdings
in the communication services and consumer discretionary sectors.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

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Advisors' Report

The Diversified Value Portfolio returned –11.49% for the 12 months ended December 31, 2022. It trailed the –7.54% return of its benchmark, the Russell 1000 Value Index.

The portfolio is overseen by two independent advisors, a strategy that enhances its diversification by providing exposure to distinct yet complementary investment approaches. It is not uncommon for different advisors to have different views about individual securities or the broader investment environment.

The advisors, the amount and percentage of the portfolio's assets each manages, and brief descriptions of their investment strategies are presented in the accompanying table. Each advisor has also prepared a discussion of the investment environment that existed during the period and of the effect it had on the portfolio's positioning. These reports were prepared on January 13, 2023.

#### Lazard Asset Management LLC
Portfolio Managers:

Andrew Lacey, Deputy Chairman

Our U.S. Equity Select strategy is based on the relationship between valuation and financial productivity. We seek to identify and empirically review two sources of alpha, which we focus on exclusively:

• Compounders: Our analysis indicates these companies can sustain very high levels of financial productivity for longer than the market expects, and their share price does not reflect this sustainability. We
typically invest 60% to 80% of our capital in Compounders.

• Improvers: We believe companies can improve returns, but investors often are too optimistic about the probability of success. Our research indicates that companies that improve their
returns on capital materially outperform the broad market. We typically invest 20% to 40% of our capital in Improvers.

Over the past year, equity markets have been difficult, with both the broad benchmark (Standard & Poor's 500 Index)

and the value-based benchmark (Russell 1000 Value Index) declining significantly. During this time, our strategy outperformed the broad benchmark and lagged the value-based benchmark. Results over the past year were largely driven by the Compounder component of the portfolio, as the highest-quality companies in the market continued to expand their competitive advantages. Several of the Compounders in the portfolio across various sectors had positive returns—which was notable, given that the S&P 500 Index decreased –18.1%.

Over the past 12 months, we moderately reduced capital in our strategy's consumer discretionary, health care, and industrial holdings as some stocks moved toward their base-case scenarios. Conversely, we added capital to both Compounders and Improvers in communications services, financials, and information technology. The portfolio's weight in Compounders remained in the middle of the target range of 60% to 80% of our strategy's capital throughout the year. We believe this remains appropriate in light of the continued economic uncertainty.

Looking forward, we view the macroeconomic outlook as more constructive but not without risk. We believe the key questions for 2023 are:

• Will inflation continue to subside from its late-2022 levels?

• When and at what level will the U.S. Federal Reserve pause its rate-hike cycle?

• For how long will the Fed keep rates high?

• If the U.S. economy enters a recession, how deep will that recession be?

• What do the answers to these questions mean to corporate earnings and discount rates on future cash flows?

As the global economy is adjusting to monetary policy normalization amid an uneven recovery from the pandemic and ongoing geopolitical strife, we expect to

see continued volatility in 2023 as markets weigh these factors. As active stock pickers, we believe there will be opportunities to add capital to high-quality companies whose long-term potential is underappreciated. We continue to focus on company fundamentals and on making sure our strategy invests in companies that are prepared for a range of economic scenarios.

#### Hotchkis and Wiley Capital Management, LLC
Portfolio Managers:

George H. Davis, Jr.,<br> Executive Chairman

Scott McBride, CFA,<br> Chief Executive Officer

In 2022, the economy and capital markets experienced milestones that had not been observed for quite some time. The Standard & Poor's 500 Index declined –18.1%. Since the Great Depression, only three years have been worse: 1974 (oil crisis), 2002 (tech bubble burst), and 2008 (financial crisis). Value stocks declined but held up much better than growth stocks. The Russell 1000 Value Index returned –7.5% compared to the Russell 1000 Growth Index's –29.1%. The difference of more than 21 percentage points represented value's largest advantage since 2000. Despite the outperformance, the price/earnings gap between growth and value remains almost a full standard deviation wider than average. Considering the still-wide valuation gap and value's significant outperformance in periods of elevated or rising inflation and interest rates, we are optimistic that value's outperformance can persist.

Inflation peaked midyear at 9.1%, the highest reading in more than 40 years. To combat rising prices, the Federal Open Market Committee increased the federal funds rate by more than 400 basis points over the course of 2022, from 0.25% to 4.5% (upper bounds). This was the largest rate hike in any calendar year since 1973, and the current 4.5% level is the highest in more than 15 years. Other interest rates followed suit: 10-year Treasury yields

------

peaked above 4% for the first time in more than a decade; 30-year mortgage rates peaked above 7% for the first time in more than two decades. Yields on corporate credit also increased significantly. The Treasury yield curve remains significantly inverted, which has historically been a harbinger of recessions. The tight labor market exhibited strong contrasting signals, however, with the unemployment rate reaching a 50-year low. Expectations for future corporate earnings are roughly flat; thus, the stock market's decline was entirely caused by a compression in valuation multiples, as opposed to an actual or expected decline in earnings.

Forecasting economic growth and/or predicting recessions is not our area of

expertise. We do, however, fully acknowledge current warning signs, such as continued monetary tightening from the U.S. Federal Reserve and the direction of the yield curve. Two things providing solace in the event of an economic slowdown are modest financial leverage and attractive valuations. There are fewer excesses in the system compared to prior recessionary periods like 2008. Unlike then, balance sheets of both consumers and financial institutions are quite strong. Further, equity valuations are reasonable; in select market segments, they are unusually attractive. A strong argument could be made that a recession is already priced into equity markets, at least in certain market segments, which is

different compared to recessionary periods like 2002. While several signs point to an economic slowdown, several others suggest that the severity would be manageable and/or much of the pain has already been felt.

The portfolio's overweight allocation to energy helped its performance. The underweight exposure to real estate, which was among the worst-performing sectors in the year, also helped, as did selection within financials and information technology. The overweight allocation to information technology and the underweight to health care detracted from performance; so, too, did stock selection within communication services and consumer discretionary.

Diversified Value Portfolio Investment Advisors

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| | | | |
|:---|:---|:---|:---|
|  | Portfolio Assets Managed | Portfolio Assets Managed |  |
| Investment Advisor | % | &nbsp;&nbsp;&nbsp;$ Million | &nbsp;&nbsp;&nbsp;Investment Strategy |
| Lazard Asset Management LLC | 57 | &nbsp;&nbsp;&nbsp;606 | &nbsp;&nbsp;&nbsp;Employs a relative-value approach that seeks a combination of attractive valuation and high financial productivity. The process is research-driven, relying upon bottom-up stock analysis performed by the firm's global sector analysts. |
| Hotchkis and Wiley Capital Management LLC | 41 | &nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;Uses a disciplined investment approach, focusing on such investment parameters as a company's tangible assets, sustainable cash flow, and potential for improving business performance. |
| Cash Investments | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;These short-term reserves are invested by Vanguard in equity index products to simulate investment in stocks. Each advisor may also maintain a modest cash position. |

---

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Diversified Value Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1052.60 | &nbsp;&nbsp;&nbsp;&nbsp;$1.50 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.48 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.29%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

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Diversified Value Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7divervalporti002.gif)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7divervalporti003.jpg) | &nbsp;&nbsp;&nbsp;Diversified Value Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-11.49% | &nbsp;&nbsp;&nbsp;&nbsp;8.08% | &nbsp;&nbsp;&nbsp;&nbsp;10.08% | &nbsp;&nbsp;&nbsp;&nbsp;$26130 |
| ![](tm231735d7divervalporti004.jpg) | &nbsp;&nbsp;&nbsp;Russell 1000 Value Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-7.54 | &nbsp;&nbsp;&nbsp;&nbsp;6.67 | &nbsp;&nbsp;&nbsp;&nbsp;10.29 | &nbsp;&nbsp;&nbsp;&nbsp;26632 |
| ![](tm231735d7divervalporti005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

See Financial Highlights for dividend and capital gains information.

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Diversified Value Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Communication Services | &nbsp;&nbsp;&nbsp;7.9% |
| Consumer Discretionary | &nbsp;&nbsp;&nbsp;9.1 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;5.9 |
| Energy | &nbsp;&nbsp;&nbsp;8.0 |
| Financials | 19.3 |
| Health Care | 14.7 |
| Industrials | &nbsp;&nbsp;11.4 |
| Information Technology | 20.0 |
| Materials | &nbsp;&nbsp;&nbsp;1.4 |
| Real Estate | &nbsp;&nbsp;&nbsp;1.3 |
| Utilities | &nbsp;&nbsp;&nbsp;1.0 |

---

The table reflects the portfolio's investments, except for short-term investments and derivatives. Sector categories are based on the Global Industry Classification Standard ("GICS"), except for the "Other" category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard and Poor's, a division of McGraw-Hill Companies, Inc. ("S&P"), and is licensed for use by Vanguard. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of its affiliates or any third party involved in making or compiling the GICS or any GICS classification have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

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Diversified Value Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Common Stocks (94.5%)** | **Common Stocks (94.5%)** | **Common Stocks (94.5%)** | **Common Stocks (94.5%)** |
| **Communication Services (7.5%)** | **Communication Services (7.5%)** | **Communication Services (7.5%)** | **Communication Services (7.5%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class A | 444670 | &nbsp;&nbsp;&nbsp;&nbsp;39233 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. Class A | 242238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8471 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 90074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7826 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Warner Bros Discovery Inc. | 606979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5754 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. Class A | 46473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5593 |
|  | &nbsp;&nbsp;&nbsp;News Corp. Class A | 252544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4596 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc ADR | 366849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3713 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. Class B | 143800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2427 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | 29391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397 |
| **** |  |  | **80010** |
| **Consumer Discretionary (8.6%)** | **Consumer Discretionary (8.6%)** | **Consumer Discretionary (8.6%)** | **Consumer Discretionary (8.6%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 253891 | &nbsp;&nbsp;&nbsp;&nbsp;21327 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 54251 | &nbsp;&nbsp;&nbsp;&nbsp;14297 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 324983 | &nbsp;&nbsp;&nbsp;&nbsp;10932 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 26725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8441 |
|  | &nbsp;&nbsp;&nbsp;Magna International Inc. | 142575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8010 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 32495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8002 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Aptiv plc | 80725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7518 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. Class B | 63703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7454 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3627 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Adient plc | 41837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber Co. | 109808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115 |
| **** |  |  | **92174** |
| **Consumer Staples (5.6%)** | **Consumer Staples (5.6%)** | **Consumer Staples (5.6%)** | **Consumer Staples (5.6%)** |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 92970 | &nbsp;&nbsp;&nbsp;&nbsp;14090 |
|  | &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 216386 | &nbsp;&nbsp;&nbsp;&nbsp;13764 |
|  | &nbsp;&nbsp;&nbsp;Mondelez International Inc. Class A | 122830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8187 |
|  | &nbsp;&nbsp;&nbsp;Unilever plc ADR | 159693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8041 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. Class A | 32332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8022 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 97988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7491 |
| **** |  |  | **59595** |
| **Energy (7.6%)** | **Energy (7.6%)** | **Energy (7.6%)** | **Energy (7.6%)** |
|  | &nbsp;&nbsp;&nbsp;ConocoPhillips | 119827 | &nbsp;&nbsp;&nbsp;&nbsp;14140 |
|  | &nbsp;&nbsp;&nbsp;APA Corp. | 231253 | &nbsp;&nbsp;&nbsp;&nbsp;10795 |
|  | &nbsp;&nbsp;&nbsp;Chevron Corp. | 53565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9614 |
|  | &nbsp;&nbsp;&nbsp;Shell plc ADR | 141036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8032 |
|  | &nbsp;&nbsp;&nbsp;NOV Inc. | 332415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6944 |
|  | &nbsp;&nbsp;&nbsp;Marathon Oil Corp. | 236887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6413 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. (XNYS) | 107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5426 |
|  | &nbsp;&nbsp;&nbsp;Halliburton Co. | 126479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4977 |
|  | &nbsp;&nbsp;&nbsp;Murphy Oil Corp. | 105040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4518 |
|  | &nbsp;&nbsp;&nbsp;Hess Corp. | 22812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3235 |
|  | &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 143100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2778 |
|  | &nbsp;&nbsp;&nbsp;Schlumberger Ltd. | 42300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2261 |
|  | &nbsp;&nbsp;&nbsp;Baker Hughes Co. Class A | 67300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987 |
| **** |  |  | **81120** |
| **Financials (18.3%)** | **Financials (18.3%)** | **Financials (18.3%)** | **Financials (18.3%)** |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 641685 | &nbsp;&nbsp;&nbsp;&nbsp;26495 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 633529 | &nbsp;&nbsp;&nbsp;&nbsp;20983 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 441353 | &nbsp;&nbsp;&nbsp;&nbsp;19962 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 176420 | &nbsp;&nbsp;&nbsp;&nbsp;18099 |

---

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| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | 113599 | &nbsp;&nbsp;&nbsp;&nbsp;16784 |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | 239602 | &nbsp;&nbsp;&nbsp;&nbsp;15152 |
|  | &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 74233 | &nbsp;&nbsp;&nbsp;&nbsp;12284 |
|  | &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 69607 | &nbsp;&nbsp;&nbsp;&nbsp;10994 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 26590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9131 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 196934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8965 |
|  | &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 106400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8068 |
|  | &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | 172561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6794 |
|  | &nbsp;&nbsp;&nbsp;Commerce Bancshares Inc. | 83467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5682 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 129600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5652 |
|  | &nbsp;&nbsp;&nbsp;First Citizens BancShares Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;3872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2936 |
|  | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 102500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 20500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906 |
|  | &nbsp;&nbsp;&nbsp;Equitable Holdings Inc. | 65264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1873 |
|  | &nbsp;&nbsp;&nbsp;State Street Corp. | 23210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 |
| **** |  |  | **195616** |
| **Health Care (13.9%)** | **Health Care (13.9%)** | **Health Care (13.9%)** | **Health Care (13.9%)** |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 147634 | &nbsp;&nbsp;&nbsp;&nbsp;26080 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 26488 | &nbsp;&nbsp;&nbsp;&nbsp;14587 |
|  | &nbsp;&nbsp;&nbsp;Medtronic plc | 178253 | &nbsp;&nbsp;&nbsp;&nbsp;13854 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | 50439 | &nbsp;&nbsp;&nbsp;&nbsp;13388 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 22382 | &nbsp;&nbsp;&nbsp;&nbsp;11464 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 225613 | &nbsp;&nbsp;&nbsp;&nbsp;10439 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 18643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9884 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | 16081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8249 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;IQVIA Holdings Inc. | 32325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6623 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 42834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6277 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 63300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5899 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Centene Corp. | 66160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5426 |
|  | &nbsp;&nbsp;&nbsp;HCA Healthcare Inc. | 22200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5327 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3313 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 24011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3061 |
|  | &nbsp;&nbsp;&nbsp;Sanofi ADR | 54264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2628 |
|  | &nbsp;&nbsp;&nbsp;GSK plc ADR | 60732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2134 |
| **** |  |  | **148633** |
| **Industrials (10.7%)** | **Industrials (10.7%)** | **Industrials (10.7%)** | **Industrials (10.7%)** |
|  | &nbsp;&nbsp;&nbsp;General Electric Co. | 315952 | &nbsp;&nbsp;&nbsp;&nbsp;26473 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 88832 | &nbsp;&nbsp;&nbsp;&nbsp;19037 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 47719 | &nbsp;&nbsp;&nbsp;&nbsp;11759 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 63933 | &nbsp;&nbsp;&nbsp;&nbsp;11073 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 57355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8998 |
|  | &nbsp;&nbsp;&nbsp;Cummins Inc. | 24651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5973 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Boeing Co. | 30100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5734 |
|  | &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 23738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5687 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 49900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5036 |
|  | &nbsp;&nbsp;&nbsp;HEICO Corp. | 29671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4558 |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial NV | 271534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4361 |
|  | &nbsp;&nbsp;&nbsp;PACCAR Inc. | 42920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4248 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fluor Corp. | 64750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244 |
| **** |  |  | **115181** |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **Information Technology (18.9%)** | **Information Technology (18.9%)** | **Information Technology (18.9%)** | **Information Technology (18.9%)** |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 235701 | &nbsp;&nbsp;&nbsp;&nbsp;56526 |
|  | &nbsp;&nbsp;&nbsp;Visa Inc. Class A | 90735 | &nbsp;&nbsp;&nbsp;&nbsp;18851 |
|  | &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 82344 | &nbsp;&nbsp;&nbsp;&nbsp;13507 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 156064 | &nbsp;&nbsp;&nbsp;&nbsp;12757 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Workday Inc. Class A | 74300 | &nbsp;&nbsp;&nbsp;&nbsp;12433 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;F5 Inc. | 71000 | &nbsp;&nbsp;&nbsp;&nbsp;10189 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. Class A | 125604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9563 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Salesforce Inc. | 66845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8863 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 180483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8598 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 76913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7490 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Adobe Inc. | 20635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6944 |
|  | &nbsp;&nbsp;&nbsp;Accenture plc Class A | 25319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6756 |
|  | &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson ADR | 783115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4573 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 129730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4144 |
|  | &nbsp;&nbsp;&nbsp;TE Connectivity Ltd. | 35960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4128 |
|  | &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 73600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 46500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155 |
|  | &nbsp;&nbsp;&nbsp;Cognex Corp. | 61194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2883 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 36707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2614 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fiserv Inc. | 24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2426 |
|  | &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp. Class A | 33200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1899 |
| **** |  |  | **201977** |
| **Materials (1.3%)** | **Materials (1.3%)** | **Materials (1.3%)** | **Materials (1.3%)** |
|  | &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | 37363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6763 |
|  | &nbsp;&nbsp;&nbsp;Olin Corp. | 111600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5908 |
|  | &nbsp;&nbsp;&nbsp;International Paper Co. | 37197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288 |
| **** |  |  | **13959** |
| **Real Estate (1.2%)** | **Real Estate (1.2%)** | **Real Estate (1.2%)** | **Real Estate (1.2%)** |
|  | &nbsp;&nbsp;&nbsp;Prologis Inc. | 119403 | &nbsp;&nbsp;&nbsp;&nbsp;13460 |
| **Utilities (0.9%)** | **Utilities (0.9%)** | **Utilities (0.9%)** | **Utilities (0.9%)** |
|  | &nbsp;&nbsp;&nbsp;PPL Corp. | 330155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9647 |
| **Total Common Stocks<br> (Cost $960,044)** | **Total Common Stocks<br> (Cost $960,044)** | **Total Common Stocks<br> (Cost $960,044)** | **1011372** |
| **Temporary Cash Investments (5.1%)** | **Temporary Cash Investments (5.1%)** | **Temporary Cash Investments (5.1%)** | **Temporary Cash Investments (5.1%)** |
| **Money Market Fund (5.1%)** | **Money Market Fund (5.1%)** | **Money Market Fund (5.1%)** | **Money Market Fund (5.1%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% **(Cost $54,304)** | 543071 | **54302** |
| **Total Investments (99.6%) (Cost $1,014,348)** | **Total Investments (99.6%) (Cost $1,014,348)** | **Total Investments (99.6%) (Cost $1,014,348)** | **1065674** |
| **Other Assets and Liabilities—Net (0.4%)** | **Other Assets and Liabilities—Net (0.4%)** | **Other Assets and Liabilities—Net (0.4%)** | **4199** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **1069873** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| \* | Non-income-producing security. |
| 1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
|  | ADR—American Depositary Receipt. |

---

------

Diversified Value Portfolio

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| E-Mini S&P 500 Index | March 2023 | 116 | 22394 | &nbsp;&nbsp;(628) |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Diversified Value Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $960,044) | &nbsp;&nbsp;1011372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $54,304) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54302 |
| Total Investments in Securities | &nbsp;&nbsp;1065674 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1332 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110 |
| **Total Assets** | **1070739** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 |
| Payables to Investment Advisor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**866** |
| **Net Assets** | **1069873** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;&nbsp;&nbsp;945171 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;124702 |
| **Net Assets** | **1069873** |
| **Net Assets** |  |
| **Applicable to 76,369,157 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **1069873** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$14.01** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Diversified Value Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;17640 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1039 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Total Income | &nbsp;&nbsp;&nbsp;18684 |
| **Expenses** |  |
| Investment Advisory Fees—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic Fee | &nbsp;&nbsp;&nbsp;&nbsp;1306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Adjustment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;1661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;3209 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;**15475** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;67229 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;(7466) |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;**59754** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | (217547) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;(1241) |
| **Change in Unrealized Appreciation (Depreciation)** | **(218788)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(143559)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $93,000. |
| 2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $1,019,000, ($6000), less than $1,000, and $4,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12799 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101666 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(218788) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169248 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(143559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283713 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(114358) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28403) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;137508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192120 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;114358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28402 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(152810) | &nbsp;&nbsp;&nbsp;&nbsp;(198338) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22184 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(158861) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277494 |
| **Net Assets** |  |  |
| **Beginning of Period** | **1228734** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**951240** |
| **End of Period** | **1069873** | &nbsp;&nbsp;&nbsp;**1228734** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Diversified Value Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$17.45** | &nbsp;&nbsp;&nbsp;**$13.74** | &nbsp;&nbsp;&nbsp;**$16.45** | &nbsp;&nbsp;&nbsp;**$14.33** | &nbsp;&nbsp;&nbsp;**$17.04** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.412 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.034) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.872) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.830) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.460) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.181) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.174) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.409) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.423) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.429) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.239) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.643) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.917) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.827) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.610) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.413) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.052) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.379) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.250) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$14.01** | &nbsp;&nbsp;&nbsp;**$17.45** | &nbsp;&nbsp;&nbsp;**$13.74** | &nbsp;&nbsp;&nbsp;**$16.45** | &nbsp;&nbsp;&nbsp;**$14.33** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-11.49%** | &nbsp;&nbsp;&nbsp;**30.47%** | &nbsp;&nbsp;&nbsp;**11.78%** | &nbsp;&nbsp;&nbsp;**25.70%** | &nbsp;&nbsp;&nbsp;**-9.12%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$1070 | &nbsp;&nbsp;&nbsp;$1229 | &nbsp;&nbsp;&nbsp;$951 | &nbsp;&nbsp;&nbsp;$974 | &nbsp;&nbsp;&nbsp;$887 |
| Ratio of Total Expenses to Average Net Assets<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.29% | &nbsp;&nbsp;&nbsp;0.28% | &nbsp;&nbsp;&nbsp;0.28% | &nbsp;&nbsp;&nbsp;0.24% | &nbsp;&nbsp;&nbsp;0.25% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.38% | &nbsp;&nbsp;&nbsp;1.14% | &nbsp;&nbsp;&nbsp;1.70% | &nbsp;&nbsp;&nbsp;2.39% | &nbsp;&nbsp;&nbsp;2.58% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;25% | &nbsp;&nbsp;&nbsp;25% | &nbsp;&nbsp;&nbsp;34% | &nbsp;&nbsp;&nbsp;117% | &nbsp;&nbsp;&nbsp;18% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Includes performance-based investment advisory fee increases (decreases) of 0.01%, 0.01%, 0.00%, (0.03%), and (0.03%). |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Diversified Value Portfolio

Notes to Financial Statements

The Diversified Value Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the portfolio's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. Futures Contracts: The portfolio uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The portfolio may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 3% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

------

Diversified Value Portfolio

6. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** The investment advisory firms Lazard Asset Management LLC and Hotchkis and Wiley Capital Management, LLC, each provide investment advisory services to a portion of the portfolio for a fee calculated at an annual
percentage rate of average net assets managed by the advisor. The basic fees of Lazard Asset Management LLC and Hotchkis and Wiley Capital Management, LLC, are subject to quarterly adjustments based on performance
relative to the S&P 500 Index and the Russell 1000 Value Index, respectively, since December 31, 2019.

Vanguard manages the cash reserves of the portfolio as described below.

------

Diversified Value Portfolio

For the year ended December 31, 2022, the aggregate investment advisory fee paid to all advisors represented an effective annual basic rate of 0.12% of the portfolio's average net assets, before a net increase of $110,000 (0.01%) based on performance.

**C.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio corporate management, administrative, marketing,
distribution and cash management services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board
of trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $41,000, representing less than 0.01% of the portfolio's net assets and 0.02% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**D.** Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies
used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments and derivatives was determined based on Level 1 inputs.

**E.** Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no
effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable foreign currency transactions were reclassified between the individual
components of total distributable earnings (loss).

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; and the recognition of unrealized gains or losses from certain derivative contracts. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;15641 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;58548 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;50513 |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;&nbsp;41617 | &nbsp;&nbsp;&nbsp;&nbsp;11958 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;72741 | &nbsp;&nbsp;&nbsp;&nbsp;16445 |
| Total | &nbsp;&nbsp;&nbsp;114358 | &nbsp;&nbsp;&nbsp;&nbsp;28403 |

---

\* Includes short-term capital gains, if any.

------

Diversified Value Portfolio

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1015162 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;159486 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(108973) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50513 |

---

**F.** During the year ended December 31, 2022, the portfolio purchased $265,141,000 of investment securities and sold $265,723,000 of investment securities, other than temporary cash investments.

**G.** Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;&nbsp;8931 | &nbsp;&nbsp;&nbsp;&nbsp;12190 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;7279 | &nbsp;&nbsp;&nbsp;&nbsp;1880 |
| Redeemed | (10246) | &nbsp;&nbsp;(12901) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;&nbsp;5964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169 |

---

At December 31, 2022, two shareholders (insurance company separate accounts whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) were each a record or beneficial owner of at least 25% or more of the portfolio's net assets, with a combined ownership of 78%. If any of these shareholders were to redeem their investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs or lead to the realization of taxable capital gains.

**H.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Diversified Value Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Diversified Value Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

------

#### Tax information (unaudited)
For corporate shareholders, 90.2%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $249,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $72,741,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

------

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

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![](tm231735d7divervalporti006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

#### CFA<sup>®</sup> is a registered trademark owned by CFA Institute.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690DV 022023

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![](tm231735d7equincmporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Equity Income Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| Advisors' Report<br>| 2 |
| About Your Portfolio's Expenses<br>| 4 |
| Performance Summary<br>| 5 |
| Financial Statements<br>| 7 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• For the 12 months ended December 31, 2022, the Equity Income Portfolio of Vanguard Variable Insurance Funds returned –0.66%, lagging the –0.32% return of its benchmark, the FTSE High Dividend Yield
Index.

• Financial markets were challenged as inflation soared to its highest levels in decades because of increased government spending during the pandemic and higher energy and food prices resulting from Russia's
invasion of Ukraine. To combat higher prices, central banks around the world tightened monetary policy, which caused fears of recession.

• The portfolio's positions in consumer discretionary, financials, and utilities boosted relative performance the most. Selection in energy and health care and an overweight to real estate detracted.

• For the decade ended December 31, 2022, the portfolio produced an average annual return of 11.58%, slightly below that of its benchmark.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

Advisors' Report

The Equity Income Portfolio returned –0.66% for the 12 months ended December 31, 2022, lagging the –0.32% return of its benchmark, the FTSE High Dividend Yield Index.

The portfolio is managed by two independent advisors, a strategy that enhances diversification by providing exposure to distinct yet complementary investment approaches. It is not uncommon for different advisors to have different views about individual securities or the broader investment environment.

The advisors, the amount and percentage of the portfolio's assets each manages, and brief descriptions of their investment strategies are presented in the accompanying table. Each advisor has also provided a discussion of the investment environment that existed during the 12 months and its effect on the portfolio's positioning. These comments were prepared on January 13, 2023.

#### Wellington Management Company llp
Portfolio Manager:

Matthew C. Hand, CFA,

Senior Managing Director

#### Investment environment
U.S. equities fell during the 12-month period ended December 31, 2022, amid rampant inflation, surging borrowing costs, uncertainty about corporate earnings, and an increased probability of recession.

Stocks opened the year lower as they registered their first quarterly loss since March 2020. Fears about the economic implications of Russia's large-scale military attack on Ukraine and the prospect of aggressive monetary policy tightening by the Federal Reserve drove the S&P 500 Index into correction territory in February. President Joe Biden signed into law a massive $1.5 trillion spending bill, which included substantial increases in domestic and national security programs and $13.6 billion in aid to Ukraine.

Equities continued to fall during a volatile second quarter. Growth stocks significantly underperformed their value counterparts as surging Treasury yields and disappointing earnings results from some of the largest technology companies drove the Nasdaq Composite Index to its largest quarterly loss since September 2001. The housing market was pressured by soaring mortgage rates, slowing demand, and elevated home prices.

In the third quarter, stocks continued their slide as risk sentiment deteriorated on fears that aggressive interest rate hikes and tighter financial conditions would constrain economic growth and drive the U.S. to recession.

Equities rallied in the fourth quarter. Greater optimism that the Fed would begin to scale back its aggressive pace of interest rate hikes, along with outsized short covering and hedging, helped to fuel a sharp rebound in October and November. But risk sentiment waned again in December amid recession fears, macroeconomic headwinds, and downside earnings risks. The Fed raised interest rates by 50 basis points (bps), snapping a streak of four consecutive hikes of 75 bps. (A basis point is one-hundredth of a percentage point.)

#### Our successes and shortfalls
Throughout 2022, sector allocation, a result of our bottom-up stock selection process, drove relative performance in our portion of the portfolio. Our underweight positions in consumer discretionary and communication services and an overweight to health care contributed to results. Overweight positions in real estate and an underweight position in energy lagged.

Security selection was strong in financials, utilities, and consumer discretionary, while selection in energy and health care detracted.

Top contributors included U.S.-based exploration and production companies Pioneer Natural Resources and

ConocoPhillips. Not owning benchmark constituent Intel, a U.S.-based semiconductor chip manufacturer, also boosted relative performance.

Top detractors included not owning U.S.-based oil and gas companies ExxonMobil and Chevron, as well as our position in home improvement retailer Lowe's.

At the end of the period, we were most overweighted in health care, real estate, and information technology and most underweighted in financials, consumer staples, and communication services.

As we enter 2023, we continue to focus on finding high-quality businesses with strong balance sheets and sustainable dividends. We are confident in the sustainability of dividends and long-term value of holdings in the portfolio. As always, we appreciate your continued confidence in our team.

#### Vanguard Quantitative Equity Group
Portfolio Manager:

Sharon Hill, Ph.D.,

Head of the Alpha Equity Global and Income Investment team

#### Investment environment
Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. Overall, economic conditions deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.

For the 12 months ended December 31, U.S. stocks returned –19.21%, as measured by the Russell 3000 Index. Stocks outside the U.S. returned –15.49%, as measured by the FTSE All-World ex US Index.

------

The broad U.S. bond market returned –13.07% for the 12-month period, as measured by the Bloomberg U.S. Aggregate Float Adjusted Index. Non-U.S. bonds, as measured by the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), fell –12.72% for the year.

#### Investment strategy
Although it's important to understand how overall performance is affected by macro factors, our approach to investing focuses on specific fundamentals. During the year, we initiated a transition away from our previous six-characteristic approach. Instead, we began to evaluate each stock's attractiveness based on four quantitative criteria that better allow us to construct a portfolio with an emphasis on dividends and cash flow rather than earnings expectations.

Our revised sub-factors are sustainable dividend growth—the ability to grow earnings year after year; strong market sentiment—market confirmation of our

view; high quality—healthy balance sheets and steady cash-flow generation; and reasonable yields valuation—our selection of stocks that offer sensible dividend payments.

Using these four themes, we generate a daily composite stock ranking. We then monitor our portfolio based on those rankings and adjust when appropriate to maximize expected returns while minimizing exposure to risks that our research indicates don't improve returns (such as industry selection and other risks relative to our benchmark).

#### Successes and shortfalls
During the fiscal year, our market sentiment model added to relative performance, while our value and sustainable dividend growth models detracted. Our quality model was neutral.

Six of the fund's 11 industry sectors contributed to relative performance. Our positions in materials, consumer staples, and energy helped the most, while our positions in industrials, financials, and

utilities detracted the most. In materials, selection was particularly strong in metals and mining companies.

At the individual-stock level, some of the strongest results came from overweights to materials company Steel Dynamics and energy companies EOG Resources, APA, and SFL, as well as an underweight to financials company Blackstone.

The greatest shortfalls came from overweighting financials company Ally Financial, information technology company Qualcomm, and utilities company NRG Energy, as well as from underweighting energy companies ConocoPhillips and Schlumberger.

We continue to believe that constructing a portfolio focused on fundamentals will benefit investors over the long term, although we recognize that the market can reward or punish us in the near term. We believe our portfolio offers a strong mix of stocks with attractive valuations and value characteristics.

Equity Income Portfolio Investment Advisors

---

| | | | |
|:---|:---|:---|:---|
|  | Portfolio Assets Managed | Portfolio Assets Managed |  |
| Investment Advisor | % | &nbsp;&nbsp;&nbsp;$ Million | &nbsp;&nbsp;&nbsp;Investment Strategy |
| Wellington Management Company LLP | 62 | &nbsp;&nbsp;&nbsp;1235 | &nbsp;&nbsp;&nbsp;Employs a fundamental approach to identify desirable individual stocks, seeking those that typically offer above-average dividend yields, below-average valuations, and the potential for dividend increases in the future. |
| Vanguard Quantitative Equity Group | 34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664 | &nbsp;&nbsp;&nbsp;Employs a quantitative approach that focuses on fundamental factors, using models that assess valuation, growth prospects, management decisions, market sentiment, and earnings and balance-sheet quality of companies as compared with their peers. |
| Cash Investments | &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;&nbsp;These short-term reserves are invested by Vanguard in equity index products to simulate investment in stocks. Each advisor may also maintain a modest cash position. |

---

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Equity Income Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1075.40 | &nbsp;&nbsp;&nbsp;&nbsp;$1.57 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.53 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.30%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Equity Income Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7equincmporti002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7equincmporti003.jpg) | &nbsp;&nbsp;&nbsp;Equity Income Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-0.66% | &nbsp;&nbsp;&nbsp;&nbsp;8.51% | &nbsp;&nbsp;&nbsp;&nbsp;11.58% | &nbsp;&nbsp;&nbsp;&nbsp;$29901 |
| ![](tm231735d7equincmporti004.jpg) | &nbsp;&nbsp;&nbsp;FTSE High Dividend Yield Index | &nbsp;&nbsp;&nbsp;&nbsp;-0.32 | &nbsp;&nbsp;&nbsp;&nbsp;8.28 | &nbsp;&nbsp;&nbsp;&nbsp;11.66 | &nbsp;&nbsp;&nbsp;&nbsp;30140 |
| ![](tm231735d7equincmporti005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

See Financial Highlights for dividend and capital gains information.

------

Equity Income Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Communication Services | &nbsp;&nbsp;2.3% |
| Consumer Discretionary | &nbsp;&nbsp;5.9 |
| Consumer Staples | 12.4 |
| Energy | &nbsp;&nbsp;9.7 |
| Financials | 18.4 |
| Health Care | 18.2 |
| Industrials | &nbsp;&nbsp;9.9 |
| Information Technology | &nbsp;&nbsp;9.6 |
| Materials | &nbsp;&nbsp;4.2 |
| Real Estate | &nbsp;&nbsp;&nbsp;1.4 |
| Utilities | &nbsp;&nbsp;8.0 |

---

The table reflects the portfolio's investments, except for short-term investments and derivatives. Sector categories are based on the Global Industry Classification Standard ("GICS"), except for the "Other" category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard and Poor's, a division of McGraw-Hill Companies, Inc. ("S&P"), and is licensed for use by Vanguard. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of its affiliates or any third party involved in making or compiling the GICS or any GICS classification have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

------

Equity Income Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | |
|:---|:---|:---|
|  | Shares | Market<br> Value• ($000) |
| **Common Stocks (95.1%)** | **Common Stocks (95.1%)** | **Common Stocks (95.1%)** |
| **Communication Services (2.1%)** | **Communication Services (2.1%)** | **Communication Services (2.1%)** |
| &nbsp;&nbsp;&nbsp;Comcast Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;838595 | &nbsp;&nbsp;&nbsp;&nbsp;29326 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | &nbsp;&nbsp;&nbsp;&nbsp;262215 | &nbsp;&nbsp;&nbsp;&nbsp;10331 |
| &nbsp;&nbsp;&nbsp;AT&T Inc. | &nbsp;&nbsp;&nbsp;&nbsp;147422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2714 |
| &nbsp;&nbsp;&nbsp;Sinclair Broadcast Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 |
|  |  | **42506** |
| **Consumer Discretionary (5.6%)** | **Consumer Discretionary (5.6%)** | **Consumer Discretionary (5.6%)** |
| &nbsp;&nbsp;&nbsp;Home Depot Inc. | &nbsp;&nbsp;&nbsp;&nbsp;131048 | &nbsp;&nbsp;&nbsp;&nbsp;41393 |
| &nbsp;&nbsp;&nbsp;TJX Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;233885 | &nbsp;&nbsp;&nbsp;&nbsp;18617 |
| &nbsp;&nbsp;&nbsp;Lennar Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;149786 | &nbsp;&nbsp;&nbsp;&nbsp;13556 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60021 | &nbsp;&nbsp;&nbsp;&nbsp;11959 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8445 |
| &nbsp;&nbsp;&nbsp;Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4220 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3568 |
| &nbsp;&nbsp;&nbsp;Advance Auto Parts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3254 |
| &nbsp;&nbsp;&nbsp;Best Buy Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2532 |
| &nbsp;&nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1426 |
| &nbsp;&nbsp;&nbsp;Macy's Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846 |
| &nbsp;&nbsp;&nbsp;Wendy's Co. | &nbsp;&nbsp;&nbsp;&nbsp;37288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844 |
| &nbsp;&nbsp;&nbsp;Whirlpool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 |
| &nbsp;&nbsp;&nbsp;Travel & Leisure Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 |
| &nbsp;&nbsp;&nbsp;La-Z-Boy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293 |
|  |  | **111874** |
| **Consumer Staples (11.8%)** | **Consumer Staples (11.8%)** | **Consumer Staples (11.8%)** |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;220784 | &nbsp;&nbsp;&nbsp;&nbsp;33462 |
| &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;295926 | &nbsp;&nbsp;&nbsp;&nbsp;29951 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;399038 | &nbsp;&nbsp;&nbsp;&nbsp;26596 |
| &nbsp;&nbsp;&nbsp;Unilever plc ADR | &nbsp;&nbsp;&nbsp;&nbsp;482437 | &nbsp;&nbsp;&nbsp;&nbsp;24291 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp;236523 | &nbsp;&nbsp;&nbsp;&nbsp;21961 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | &nbsp;&nbsp;&nbsp;&nbsp;428432 | &nbsp;&nbsp;&nbsp;&nbsp;15278 |
| &nbsp;&nbsp;&nbsp;Kellogg Co. | &nbsp;&nbsp;&nbsp;&nbsp;192929 | &nbsp;&nbsp;&nbsp;&nbsp;13744 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91361 | &nbsp;&nbsp;&nbsp;&nbsp;12954 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;87198 | &nbsp;&nbsp;&nbsp;&nbsp;11837 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7845 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;119721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7615 |
| &nbsp;&nbsp;&nbsp;Altria Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;153199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7003 |
| &nbsp;&nbsp;&nbsp;Hershey Co. | &nbsp;&nbsp;&nbsp;&nbsp;22394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5186 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;105150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4688 |
| &nbsp;&nbsp;&nbsp;Tyson Foods Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;65093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4052 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;37919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988 |
| &nbsp;&nbsp;&nbsp;Ingredion Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2439 |
| &nbsp;&nbsp;&nbsp;Medifast Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1278 |
|  |  | **233168** |
| **Energy (9.2%)** | **Energy (9.2%)** | **Energy (9.2%)** |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;411676 | &nbsp;&nbsp;&nbsp;&nbsp;48578 |
| &nbsp;&nbsp;&nbsp;EOG Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;347270 | &nbsp;&nbsp;&nbsp;&nbsp;44978 |
| &nbsp;&nbsp;&nbsp;Coterra Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;752355 | &nbsp;&nbsp;&nbsp;&nbsp;18485 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;162017 | &nbsp;&nbsp;&nbsp;&nbsp;17871 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70750 | &nbsp;&nbsp;&nbsp;&nbsp;12699 |
| &nbsp;&nbsp;&nbsp;TC Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;292466 | &nbsp;&nbsp;&nbsp;&nbsp;11660 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;95598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9950 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6529 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5761 |
| &nbsp;&nbsp;&nbsp;APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;73436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3428 |

---

---

| | | |
|:---|:---|:---|
|  | Shares | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Schlumberger Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;30404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625 |
|  |  | **181564** |
| **Financials (17.5%)** | **Financials (17.5%)** | **Financials (17.5%)** |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;537257 | &nbsp;&nbsp;&nbsp;&nbsp;72046 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;425397 | &nbsp;&nbsp;&nbsp;&nbsp;36167 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | &nbsp;&nbsp;&nbsp;&nbsp;413487 | &nbsp;&nbsp;&nbsp;&nbsp;29924 |
| &nbsp;&nbsp;&nbsp;Chubb Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;117080 | &nbsp;&nbsp;&nbsp;&nbsp;25828 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;395851 | &nbsp;&nbsp;&nbsp;&nbsp;17034 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;116659 | &nbsp;&nbsp;&nbsp;&nbsp;16923 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;428152 | &nbsp;&nbsp;&nbsp;&nbsp;14180 |
| &nbsp;&nbsp;&nbsp;Blackstone Inc. | &nbsp;&nbsp;&nbsp;&nbsp;182743 | &nbsp;&nbsp;&nbsp;&nbsp;13558 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;201247 | &nbsp;&nbsp;&nbsp;&nbsp;12727 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;118703 | &nbsp;&nbsp;&nbsp;&nbsp;12683 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;133149 | &nbsp;&nbsp;&nbsp;&nbsp;12518 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;251678 | &nbsp;&nbsp;&nbsp;&nbsp;10392 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;148968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6738 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5979 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5375 |
| &nbsp;&nbsp;&nbsp;Discover Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;44074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4312 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;92038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4190 |
| &nbsp;&nbsp;&nbsp;CNO Financial Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;176761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4039 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4023 |
| &nbsp;&nbsp;&nbsp;SLM Corp. | &nbsp;&nbsp;&nbsp;&nbsp;224021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3719 |
| &nbsp;&nbsp;&nbsp;Radian Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;189961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3623 |
| &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;274582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3570 |
| &nbsp;&nbsp;&nbsp;Popular Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3535 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp;61034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2956 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;117593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2875 |
| &nbsp;&nbsp;&nbsp;First BanCorp. (XNYS) | &nbsp;&nbsp;&nbsp;&nbsp;179057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278 |
| &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2224 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2046 |
| &nbsp;&nbsp;&nbsp;Jackson Financial Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;56662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1971 |
| &nbsp;&nbsp;&nbsp;Assurant Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1688 |
| &nbsp;&nbsp;&nbsp;Assured Guaranty Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1359 |
| &nbsp;&nbsp;&nbsp;BlackRock Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1308 |
| &nbsp;&nbsp;&nbsp;Heartland Financial USA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991 |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;10373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341 |
|  |  | **346514** |
| **Health Care (17.4%)** | **Health Care (17.4%)** | **Health Care (17.4%)** |
| &nbsp;&nbsp;&nbsp;Pfizer Inc. | 1163412 | &nbsp;&nbsp;&nbsp;&nbsp;59613 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;328787 | &nbsp;&nbsp;&nbsp;&nbsp;58080 |
| &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;496197 | &nbsp;&nbsp;&nbsp;&nbsp;55053 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;116336 | &nbsp;&nbsp;&nbsp;&nbsp;42560 |
| &nbsp;&nbsp;&nbsp;AstraZeneca plc ADR | &nbsp;&nbsp;&nbsp;&nbsp;253958 | &nbsp;&nbsp;&nbsp;&nbsp;17218 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95974 | &nbsp;&nbsp;&nbsp;&nbsp;15510 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;46435 | &nbsp;&nbsp;&nbsp;&nbsp;14592 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24928 | &nbsp;&nbsp;&nbsp;&nbsp;13216 |
| &nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp;166920 | &nbsp;&nbsp;&nbsp;&nbsp;12973 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | &nbsp;&nbsp;&nbsp;&nbsp;45673 | &nbsp;&nbsp;&nbsp;&nbsp;11615 |
| &nbsp;&nbsp;&nbsp;Elevance Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21864 | &nbsp;&nbsp;&nbsp;&nbsp;11216 |
| &nbsp;&nbsp;&nbsp;Amgen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9620 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;92758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8644 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;87975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6330 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5885 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;109140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215 |
| **** |  |  | **343340** |
| **Industrials (9.4%)** | **Industrials (9.4%)** | **Industrials (9.4%)** | **Industrials (9.4%)** |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;84593 | &nbsp;&nbsp;&nbsp;&nbsp;20988 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;175699 | &nbsp;&nbsp;&nbsp;&nbsp;16878 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Siemens AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;115181 | &nbsp;&nbsp;&nbsp;&nbsp;15878 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;76216 | &nbsp;&nbsp;&nbsp;&nbsp;15869 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | &nbsp;&nbsp;&nbsp;&nbsp;240260 | &nbsp;&nbsp;&nbsp;&nbsp;15377 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;150495 | &nbsp;&nbsp;&nbsp;&nbsp;15188 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69804 | &nbsp;&nbsp;&nbsp;&nbsp;14959 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp;86157 | &nbsp;&nbsp;&nbsp;&nbsp;13522 |
|  | &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp;97462 | &nbsp;&nbsp;&nbsp;&nbsp;11577 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8956 |
|  | &nbsp;&nbsp;&nbsp;Caterpillar Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6314 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5074 |
|  | &nbsp;&nbsp;&nbsp;Triton International Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;62319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4286 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;24069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4184 |
|  | &nbsp;&nbsp;&nbsp;ManpowerGroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3898 |
|  | &nbsp;&nbsp;&nbsp;CH Robinson Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3674 |
|  | &nbsp;&nbsp;&nbsp;Apogee Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3528 |
|  | &nbsp;&nbsp;&nbsp;Cummins Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;18797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2254 |
|  | &nbsp;&nbsp;&nbsp;Timken Co. | &nbsp;&nbsp;&nbsp;&nbsp;18700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1321 |
| **** |  |  | **186154** |
| **Information Technology (9.1%)** | **Information Technology (9.1%)** | **Information Technology (9.1%)** | **Information Technology (9.1%)** |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;705924 | &nbsp;&nbsp;&nbsp;&nbsp;33630 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | &nbsp;&nbsp;&nbsp;&nbsp;276028 | &nbsp;&nbsp;&nbsp;&nbsp;30347 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39153 | &nbsp;&nbsp;&nbsp;&nbsp;21892 |
|  | &nbsp;&nbsp;&nbsp;Analog Devices Inc. | &nbsp;&nbsp;&nbsp;&nbsp;115748 | &nbsp;&nbsp;&nbsp;&nbsp;18986 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | &nbsp;&nbsp;&nbsp;&nbsp;427419 | &nbsp;&nbsp;&nbsp;&nbsp;13652 |
|  | &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;83936 | &nbsp;&nbsp;&nbsp;&nbsp;13264 |
|  | &nbsp;&nbsp;&nbsp;TE Connectivity Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;103141 | &nbsp;&nbsp;&nbsp;&nbsp;11841 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;173413 | &nbsp;&nbsp;&nbsp;&nbsp;11766 |
|  | &nbsp;&nbsp;&nbsp;HP Inc. | &nbsp;&nbsp;&nbsp;&nbsp;160689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4318 |
|  | &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3756 |
|  | &nbsp;&nbsp;&nbsp;Automatic Data Processing Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3347 |
|  | &nbsp;&nbsp;&nbsp;Western Union Co. | &nbsp;&nbsp;&nbsp;&nbsp;231036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3181 |
|  | &nbsp;&nbsp;&nbsp;NetApp Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3150 |
|  | &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2470 |
|  | &nbsp;&nbsp;&nbsp;Avnet Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2464 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;77385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2045 |
| **** |  |  | **180109** |
| **Materials (4.0%)** | **Materials (4.0%)** | **Materials (4.0%)** | **Materials (4.0%)** |
|  | &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV Class A | &nbsp;&nbsp;&nbsp;&nbsp;225724 | &nbsp;&nbsp;&nbsp;&nbsp;18742 |
|  | &nbsp;&nbsp;&nbsp;Rio Tinto plc ADR | &nbsp;&nbsp;&nbsp;&nbsp;225779 | &nbsp;&nbsp;&nbsp;&nbsp;16075 |
|  | &nbsp;&nbsp;&nbsp;PPG Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;123421 | &nbsp;&nbsp;&nbsp;&nbsp;15519 |

---

------

Equity Income Portfolio

---

| | | |
|:---|:---|:---|
|  | Shares | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Celanese Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;97096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9927 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4358 |
| &nbsp;&nbsp;&nbsp;Reliance Steel & Aluminum Co. | &nbsp;&nbsp;&nbsp;&nbsp;21349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4322 |
| &nbsp;&nbsp;&nbsp;Linde plc | &nbsp;&nbsp;&nbsp;&nbsp;12019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3920 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690 |
| &nbsp;&nbsp;&nbsp;Chemours Co. | &nbsp;&nbsp;&nbsp;&nbsp;50639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551 |
|  |  | **79824** |
| **Real Estate (1.4%)** | **Real Estate (1.4%)** | **Real Estate (1.4%)** |
| &nbsp;&nbsp;&nbsp;Crown Castle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112128 | &nbsp;&nbsp;&nbsp;&nbsp;15209 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | &nbsp;&nbsp;&nbsp;&nbsp;180355 | &nbsp;&nbsp;&nbsp;&nbsp;11822 |
|  |  | **27031** |
| **Utilities (7.6%)** | **Utilities (7.6%)** | **Utilities (7.6%)** |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;649364 | &nbsp;&nbsp;&nbsp;&nbsp;28072 |
| &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;282984 | &nbsp;&nbsp;&nbsp;&nbsp;26869 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;289107 | &nbsp;&nbsp;&nbsp;&nbsp;24169 |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;176910 | &nbsp;&nbsp;&nbsp;&nbsp;19826 |
| &nbsp;&nbsp;&nbsp;Sempra Energy (XNYS) | &nbsp;&nbsp;&nbsp;&nbsp;111214 | &nbsp;&nbsp;&nbsp;&nbsp;17187 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4709 |
| &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;157112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4591 |
| &nbsp;&nbsp;&nbsp;Hawaiian Electric Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3684 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;158455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3676 |
| &nbsp;&nbsp;&nbsp;UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;98641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3657 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;56470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 |
| &nbsp;&nbsp;&nbsp;NRG Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;110628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3520 |
| &nbsp;&nbsp;&nbsp;Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3429 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323 |
| &nbsp;&nbsp;&nbsp;Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;10798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 |
| &nbsp;&nbsp;&nbsp;MGE Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 |
|  |  | **149931** |
| **Total Common Stocks<br> (Cost $1,724,836)** | **Total Common Stocks<br> (Cost $1,724,836)** | **1882015** |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **Temporary Cash Investments (4.3%)** | **Temporary Cash Investments (4.3%)** | **Temporary Cash Investments (4.3%)** | **Temporary Cash Investments (4.3%)** |
| **Money Market Fund (4.0%)** | **Money Market Fund (4.0%)** | **Money Market Fund (4.0%)** | **Money Market Fund (4.0%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% | &nbsp;&nbsp;&nbsp;&nbsp;782739 | &nbsp;&nbsp;&nbsp;&nbsp;78266 |
|  |  | Face<br> Amount<br> ($000) |  |
| **Repurchase Agreement (0.3%)** | **Repurchase Agreement (0.3%)** | **Repurchase Agreement (0.3%)** | **Repurchase Agreement (0.3%)** |
|  | &nbsp;&nbsp;&nbsp;BNP Paribas Securities Corp. 4.300%, 1/3/23<br> (Dated 12/30/22, Repurchase Value $5,803,000, collateralized by Fannie Mae 2.090%–6.000%, 10/1/36–12/1/52, and Freddie Mac 2.770%, 3/1/40, with a value of $5,916,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800 |
| **Total Temporary Cash Investments (Cost $84,068)** | **Total Temporary Cash Investments (Cost $84,068)** | **Total Temporary Cash Investments (Cost $84,068)** | **84066** |
| **Total Investments (99.4%) (Cost $1,808,904)** | **Total Investments (99.4%) (Cost $1,808,904)** | **Total Investments (99.4%) (Cost $1,808,904)** | **1966081** |
| **Other Assets and Liabilities—Net (0.6%)** | **Other Assets and Liabilities—Net (0.6%)** | **Other Assets and Liabilities—Net (0.6%)** | **11901** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **1977982** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| \* | Non-income-producing security. |
| 1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
|  | ADR—American Depositary Receipt. |

---

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| E-Mini S&P 500 Index | March 2023 | 422 | 81467 | &nbsp;&nbsp;(2170) |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Income Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $1,730,636) | &nbsp;&nbsp;1887815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $78,268) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78266 |
| Total Investments in Securities | 1966081 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4566 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7462 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3265 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| **Total Assets** | **1981513** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863 |
| Payables to Investment Advisor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1891 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3531** |
| **Net Assets** | &nbsp;&nbsp;**1977982** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;1670199 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;307783 |
| **Net Assets** | &nbsp;&nbsp;**1977982** |
| **Net Assets** |  |
| **Applicable to 82,039,835 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**1977982** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$24.11** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Income Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;56399 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1181 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;57598 |
| **Expenses** |  |
| Investment Advisory Fees—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic Fee | &nbsp;&nbsp;&nbsp;&nbsp;1552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Adjustment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219 |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;3809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;5776 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;5775 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;**51823** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2</sup> | &nbsp;&nbsp;117800 |
| Futures Contracts | &nbsp;&nbsp;(12877) |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) |
| **Realized Net Gain (Loss)** | **104909** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | (167150) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;(3503) |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27) |
| **Change in Unrealized Appreciation (Depreciation)** | **(170680)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;**(13948)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $287,000. |
| 2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $937,000, $1,000, less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;51823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47641 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;104909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404635 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(170680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11557 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;(13948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463833 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;(250263) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90458) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;331885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372060 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;250263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90458 |
| Redeemed | &nbsp;&nbsp;&nbsp;(237500) | &nbsp;&nbsp;&nbsp;&nbsp;(959785) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;344648 | &nbsp;&nbsp;&nbsp;&nbsp;(497267) |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;80437 | &nbsp;&nbsp;&nbsp;&nbsp;(123892) |
| **Net Assets** |  |  |
| **Beginning of Period** | **1897545** | &nbsp;&nbsp;&nbsp;**2021437** |
| **End of Period** | **1977982** | &nbsp;&nbsp;&nbsp;**1897545** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Income Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$27.81** | &nbsp;&nbsp;&nbsp;**$23.07** | &nbsp;&nbsp;&nbsp;**$24.17** | &nbsp;&nbsp;&nbsp;**$21.24** | &nbsp;&nbsp;&nbsp;**$24.64** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.620 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.756) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.305) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.977) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.091) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.357) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.687) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.506) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.618) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.586) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.562) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.468) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.772) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.422) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.481) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.609) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.974) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.390) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.008) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.043) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$24.11** | &nbsp;&nbsp;&nbsp;**$27.81** | &nbsp;&nbsp;&nbsp;**$23.07** | &nbsp;&nbsp;&nbsp;**$24.17** | &nbsp;&nbsp;&nbsp;**$21.24** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-0.66%** | &nbsp;&nbsp;&nbsp;**25.33%** | &nbsp;&nbsp;&nbsp;**3.25%** | &nbsp;&nbsp;&nbsp;**24.43%** | &nbsp;&nbsp;&nbsp;**-5.96%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$1978 | &nbsp;&nbsp;&nbsp;$1898 | &nbsp;&nbsp;&nbsp;$2021 | &nbsp;&nbsp;&nbsp;$1834 | &nbsp;&nbsp;&nbsp;$1374 |
| Ratio of Total Expenses to Average Net Assets<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.30%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.30% | &nbsp;&nbsp;&nbsp;0.30% | &nbsp;&nbsp;&nbsp;0.30% | &nbsp;&nbsp;&nbsp;0.29% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;2.73% | &nbsp;&nbsp;&nbsp;2.45% | &nbsp;&nbsp;&nbsp;2.86% | &nbsp;&nbsp;&nbsp;2.76% | &nbsp;&nbsp;&nbsp;2.69% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;46% | &nbsp;&nbsp;&nbsp;41%<sup>4</sup> | &nbsp;&nbsp;&nbsp;40% | &nbsp;&nbsp;&nbsp;33% | &nbsp;&nbsp;&nbsp;36% |

---

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| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Includes performance-based investment advisory fee increases (decreases) of 0.01%, 0.01%, 0.01%, 0.01%, and (0.00%). |
| 3 | The ratio of expenses to average net assets for the period net of reduction from broker commission abatement arrangements was 0.30%. |
| 4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the portfolio's capital shares. |

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See accompanying Notes, which are an integral part of the Financial Statements.

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Equity Income Portfolio

Notes to Financial Statements

The Equity Income Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the portfolio's pricing time. When fair-value pricing is employed, the prices of securities used by a portfolio to calculate its net asset value may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the portfolio's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. Repurchase Agreements: The portfolio enters into repurchase agreements with institutional counterparties. Securities pledged as collateral to the portfolio under repurchase agreements are held by a custodian bank until the agreements mature, and in the absence of a default, such collateral cannot be repledged, resold, or rehypothecated. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal. The portfolio further mitigates its counterparty risk by entering into repurchase agreements only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master repurchase agreements with its counterparties. The master repurchase agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any repurchase agreements with that counterparty, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio. Such action may be subject to legal proceedings, which may delay or limit the disposition of collateral.

4. Futures Contracts: The portfolio uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The portfolio may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse

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Equity Income Portfolio

imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 3% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

5. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

6. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

7. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

8. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and

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Equity Income Portfolio

borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

9. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** Wellington Management Company llp provides investment advisory services to a portion of the portfolio for a fee calculated at an annual percentage rate of average net assets managed by the advisor. The basic
fee is subject to quarterly adjustments based on the portfolio's performance relative to the FTSE High Dividend Yield Index for the preceding three years.

Vanguard provides investment advisory services to a portion of the portfolio as described below; the portfolio paid Vanguard advisory fees of $357,000 for the year ended December 31, 2022.

For the year ended December 31, 2022, the aggregate investment advisory fee paid to all advisors represented an effective annual basic rate of 0.08% of the portfolio's average net assets, before a net increase $219,000 (0.01%) based on performance.

**C.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative,
marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of
trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $73,000, representing less than 0.01% of the portfolio's net assets and 0.03% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**D.** The portfolio has asked its investment advisors to direct certain security trades, subject to obtaining the best price and execution, to brokers who have agreed to rebate to the portfolio part of the commissions
generated. Such rebates are used solely to reduce the portfolio's management and administrative expenses. For the year ended December 31, 2022, these arrangements reduced the portfolio's expenses by $1,000
(an annual rate of less than 0.01% of average net assets).

**E.** Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement
purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

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Equity Income Portfolio

The following table summarizes the market value of the portfolio's investments and derivatives as of December 31, 2022, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 1851545 | &nbsp;&nbsp;&nbsp;30470 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1882015 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78266 | &nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84066 |
| Total | &nbsp;&nbsp;1929811 | &nbsp;&nbsp;&nbsp;36270 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1966081 |
| **Derivative Financial Instruments** |  |  |  |  |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | 2170 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2170 |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

**F.** Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no
effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable foreign currency transactions were reclassified between the individual
components of total distributable earnings (loss).

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; and the recognition of unrealized gains or losses from certain derivative contracts. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;49588 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;101807 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;156388 |

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The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;&nbsp;99454 | &nbsp;&nbsp;&nbsp;&nbsp;47031 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;150809 | &nbsp;&nbsp;&nbsp;&nbsp;43427 |
| Total | &nbsp;&nbsp;&nbsp;250263 | &nbsp;&nbsp;&nbsp;&nbsp;90458 |

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\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1809702 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256962 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(100583) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156379 |

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**G.** During the year ended December 31, 2022, the portfolio purchased $937,024,000 of investment securities and sold $830,230,000 of investment securities, other than temporary cash investments.

The portfolio purchased securities from and sold securities to other funds or accounts managed by its investment advisors or their affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $6,002,000 and sales were $13,354,000, resulting in net realized gain of $1,917,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

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Equity Income Portfolio

**H.** Capital shares issued and redeemed were:

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| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | 13527 | &nbsp;&nbsp;&nbsp;&nbsp;15137 |
| Issued in Lieu of Cash Distributions | 10112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3683 |
| Redeemed | (9839) | &nbsp;&nbsp;(38213) |
| Net Increase (Decrease) in Shares Outstanding | 13800 | &nbsp;&nbsp;(19393) |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 48% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**I.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Equity Income Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Equity Income Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

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#### Tax information (unaudited)
For corporate shareholders, 93.6%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $249,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $150,809,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

------

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

------

![](tm231735d7equincmporti006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Annuity and Insurance Services > 800-522-5555

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

#### CFA<sup>®</sup> is a registered trademark owned by CFA Institute.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690EQUC 022023

------

![](tm231735d7eqtyindporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Equity Index Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Equity Index Portfolio returned –18.23%, in line with the
 –18.11% return of its benchmark, the Standard & Poor's 500 Index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.

• Value stocks held up better than their growth counterparts during the period. Among sectors in the benchmark index, steep declines in information technology and consumer discretionary stocks were partly offset by
robust gains in energy stocks.

• For the decade through 2022, the portfolio had an annualized total return of 12.40%, in line with its benchmark.

• Please note that the portfolio returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Equity Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1022.40 | &nbsp;&nbsp;&nbsp;&nbsp;$0.71 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.14%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Equity Index Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7eqtyindporti002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7eqtyindporti003.jpg) | &nbsp;&nbsp;&nbsp;Equity Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-18.23% | &nbsp;&nbsp;&nbsp;&nbsp;9.27% | &nbsp;&nbsp;&nbsp;&nbsp;12.40% | &nbsp;&nbsp;&nbsp;&nbsp;$32196 |
| ![](tm231735d7eqtyindporti004.jpg) | &nbsp;&nbsp;&nbsp;S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32654 |
| ![](tm231735d7eqtyindporti005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

See Financial Highlights for dividend and capital gains information.

------

Equity Index Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Communication Services | &nbsp;&nbsp;&nbsp;7.3% |
| Consumer Discretionary | &nbsp;&nbsp;&nbsp;9.8 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;7.2 |
| Energy | &nbsp;&nbsp;&nbsp;5.2 |
| Financials | &nbsp;&nbsp;11.7 |
| Health Care | 15.8 |
| Industrials | &nbsp;&nbsp;&nbsp;8.7 |
| Information Technology | 25.7 |
| Materials | &nbsp;&nbsp;&nbsp;2.7 |
| Real Estate | &nbsp;&nbsp;&nbsp;2.7 |
| Utilities | &nbsp;&nbsp;&nbsp;3.2 |

---

The table reflects the portfolio's investments, except for short-term investments and derivatives. Sector categories are based on the Global Industry Classification Standard ("GICS"), except for the "Other" category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

The portfolio may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking its target index as closely as possible.

The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard and Poor's, a division of McGraw-Hill Companies, Inc. ("S&P"), and is licensed for use by Vanguard. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of its affiliates or any third party involved in making or compiling the GICS or any GICS classification have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

------

Equity Index Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Common Stocks (99.4%)** | **Common Stocks (99.4%)** | **Common Stocks (99.4%)** | **Common Stocks (99.4%)** |
| **Communication Services (7.2%)** | **Communication Services (7.2%)** | **Communication Services (7.2%)** | **Communication Services (7.2%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class A | 1403705 | &nbsp;&nbsp; 123849 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class C | 1243382 | &nbsp;&nbsp; 110325 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;528264 | &nbsp;&nbsp;&nbsp;&nbsp;63571 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | &nbsp;&nbsp;&nbsp;&nbsp;986630 | &nbsp;&nbsp;&nbsp;&nbsp;38873 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;428269 | &nbsp;&nbsp; 37208 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. Class A | &nbsp;&nbsp;1013400 | &nbsp;&nbsp;&nbsp;&nbsp;35439 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Netflix Inc. | &nbsp;&nbsp; 104544 | &nbsp;&nbsp;&nbsp;&nbsp;30828 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | &nbsp;&nbsp;1674308 | &nbsp;&nbsp;&nbsp;&nbsp;30824 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;T-Mobile US Inc. | &nbsp;&nbsp; 140300 | &nbsp;&nbsp; 19642 |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | &nbsp;&nbsp; 167270 | &nbsp;&nbsp; 12804 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Charter Communications Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;25246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8561 |
|  | &nbsp;&nbsp;&nbsp;Electronic Arts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61658 | &nbsp;&nbsp; 7533 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Warner Bros Discovery Inc. | &nbsp;&nbsp; 519095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4921 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | &nbsp;&nbsp; 47947 | &nbsp;&nbsp; 3911 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | &nbsp;&nbsp; 37084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3862 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3041 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Match Group Inc. | &nbsp;&nbsp; 65764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2729 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Live Nation Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2333 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;70965 | &nbsp;&nbsp; 2155 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Class B | &nbsp;&nbsp; 118614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002 |
|  | &nbsp;&nbsp;&nbsp;News Corp. Class A | &nbsp;&nbsp; 90106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640 |
|  | &nbsp;&nbsp;&nbsp;Lumen Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;222938 | &nbsp;&nbsp; 1164 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. Class B | &nbsp;&nbsp; 33014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DISH Network Corp. Class A | &nbsp;&nbsp; 58816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 |
|  | &nbsp;&nbsp;&nbsp;News Corp. Class B | &nbsp;&nbsp; 27360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504 |
| **** |  |  | **549484** |
| **Consumer Discretionary (9.7%)** | **Consumer Discretionary (9.7%)** | **Consumer Discretionary (9.7%)** | **Consumer Discretionary (9.7%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2085067 | &nbsp;&nbsp; 175146 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tesla Inc. | &nbsp;&nbsp;&nbsp;&nbsp;630567 | &nbsp;&nbsp; 77673 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | &nbsp;&nbsp;&nbsp;&nbsp;240503 | &nbsp;&nbsp;&nbsp;&nbsp;75965 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp; 172060 | &nbsp;&nbsp;&nbsp;&nbsp;45343 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;295949 | &nbsp;&nbsp;&nbsp;&nbsp;34629 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | &nbsp;&nbsp; 145820 | &nbsp;&nbsp;&nbsp;&nbsp;29053 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;269661 | &nbsp;&nbsp;&nbsp;&nbsp;26750 |
|  | &nbsp;&nbsp;&nbsp;TJX Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;272771 | &nbsp;&nbsp; 21713 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | &nbsp;&nbsp; 9112 | &nbsp;&nbsp; 18363 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | &nbsp;&nbsp; 108131 | &nbsp;&nbsp; 16116 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52994 | &nbsp;&nbsp; 13050 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;O'Reilly Automotive Inc. | &nbsp;&nbsp; 14701 | &nbsp;&nbsp; 12408 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;333802 | &nbsp;&nbsp; 11229 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AutoZone Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4459 | &nbsp;&nbsp; 10997 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Co. | &nbsp;&nbsp; 927935 | &nbsp;&nbsp; 10792 |
|  | &nbsp;&nbsp;&nbsp;Ross Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9465 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. Class A | &nbsp;&nbsp; 63218 | &nbsp;&nbsp; 9413 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill Inc. Class A | &nbsp;&nbsp; 6514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9038 |
|  | &nbsp;&nbsp;&nbsp;Yum! Brands Inc. | &nbsp;&nbsp; 66191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8478 |
|  | &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8033 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dollar Tree Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6991 |
|  | &nbsp;&nbsp;&nbsp;DR Horton Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6548 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Aptiv plc | &nbsp;&nbsp;&nbsp;&nbsp;63600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5923 |
|  | &nbsp;&nbsp;&nbsp;Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;25956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5839 |
|  | &nbsp;&nbsp;&nbsp;Genuine Parts Co. | &nbsp;&nbsp; 33133 | &nbsp;&nbsp; 5749 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ulta Beauty Inc. | &nbsp;&nbsp; 12026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5641 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;58982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5338 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | &nbsp;&nbsp; 127435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5285 |
|  | &nbsp;&nbsp;&nbsp;Darden Restaurants Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3970 |
|  | &nbsp;&nbsp;&nbsp;Best Buy Co. Inc. | &nbsp;&nbsp; 47095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp; 77254 | &nbsp;&nbsp; 3714 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Etsy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3536 |
|  | &nbsp;&nbsp;&nbsp;Garmin Ltd. | &nbsp;&nbsp; 36076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3329 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NVR Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256 |
|  | &nbsp;&nbsp;&nbsp;LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59695 | &nbsp;&nbsp; 3188 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Expedia Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35395 | &nbsp;&nbsp; 3101 |
|  | &nbsp;&nbsp;&nbsp;Domino's Pizza Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2886 |
|  | &nbsp;&nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp; 9191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;51685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2555 |
|  | &nbsp;&nbsp;&nbsp;MGM Resorts International | &nbsp;&nbsp;&nbsp;&nbsp;75075 | &nbsp;&nbsp; 2517 |
|  | &nbsp;&nbsp;&nbsp;PulteGroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CarMax Inc. | &nbsp;&nbsp; 37141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2261 |
|  | &nbsp;&nbsp;&nbsp;Bath & Body Works Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2259 |
|  | &nbsp;&nbsp;&nbsp;BorgWarner Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207 |
|  | &nbsp;&nbsp;&nbsp;Tapestry Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56449 | &nbsp;&nbsp; 2150 |
|  | &nbsp;&nbsp;&nbsp;VF Corp. | &nbsp;&nbsp; 77648 | &nbsp;&nbsp; 2144 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Caesars Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099 |
|  | &nbsp;&nbsp;&nbsp;Advance Auto Parts Inc. | &nbsp;&nbsp; 14102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. | &nbsp;&nbsp; 24175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1994 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Carnival Corp. | &nbsp;&nbsp;&nbsp;&nbsp;234450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890 |
|  | &nbsp;&nbsp;&nbsp;Hasbro Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | &nbsp;&nbsp; 12832 | &nbsp;&nbsp; 1815 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Mohawk Industries Inc. | &nbsp;&nbsp; 12368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings Ltd. | &nbsp;&nbsp; 98815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209 |
|  | &nbsp;&nbsp;&nbsp;Newell Brands Inc. | &nbsp;&nbsp; 88310 | &nbsp;&nbsp; 1155 |
|  | &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9631 | &nbsp;&nbsp; 1018 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 |
| **** |  |  | **739484** |
| **Consumer Staples (7.2%)** | **Consumer Staples (7.2%)** | **Consumer Staples (7.2%)** | **Consumer Staples (7.2%)** |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp; 556719 | &nbsp;&nbsp; 84376 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;323656 | &nbsp;&nbsp;&nbsp;&nbsp;58472 |
|  | &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp; 914335 | &nbsp;&nbsp; 58161 |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp; 103975 | &nbsp;&nbsp; 47465 |
|  | &nbsp;&nbsp;&nbsp;Walmart Inc. | &nbsp;&nbsp;&nbsp;&nbsp;331565 | &nbsp;&nbsp;&nbsp; 47013 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | &nbsp;&nbsp; 364159 | &nbsp;&nbsp;&nbsp;&nbsp;36856 |
|  | &nbsp;&nbsp;&nbsp;Mondelez International Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;320733 | &nbsp;&nbsp;&nbsp;&nbsp;21377 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;420959 | &nbsp;&nbsp; 19242 |
|  | &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp; 196202 | &nbsp;&nbsp; 15459 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;54328 | &nbsp;&nbsp; 13479 |
|  | &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | &nbsp;&nbsp; 129034 | &nbsp;&nbsp; 11981 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | &nbsp;&nbsp; 139409 | &nbsp;&nbsp; 11689 |
|  | &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;79273 | &nbsp;&nbsp; 10761 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp; 119049 | &nbsp;&nbsp; 9101 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Monster Beverage Corp. | &nbsp;&nbsp;&nbsp;&nbsp;89489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9086 |
|  | &nbsp;&nbsp;&nbsp;Constellation Brands Inc. Class A | &nbsp;&nbsp; 38144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8840 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | &nbsp;&nbsp;&nbsp;&nbsp;34543 | &nbsp;&nbsp; 7999 |
|  | &nbsp;&nbsp;&nbsp;Kraft Heinz Co. | &nbsp;&nbsp; 187178 | &nbsp;&nbsp; 7620 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | &nbsp;&nbsp; 199785 | &nbsp;&nbsp; 7124 |
|  | &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp; 153191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6829 |
|  | &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | &nbsp;&nbsp; 168450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6293 |
|  | &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. (Non-Voting) | &nbsp;&nbsp;&nbsp;&nbsp;58859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4879 |
|  | &nbsp;&nbsp;&nbsp;Church & Dwight Co. Inc. | &nbsp;&nbsp; 57283 | &nbsp;&nbsp; 4617 |
|  | &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | &nbsp;&nbsp; 112506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4354 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | &nbsp;&nbsp; 60145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4285 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;68063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4237 |
|  | &nbsp;&nbsp;&nbsp;Clorox Co. | &nbsp;&nbsp;&nbsp;&nbsp;28994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4069 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | &nbsp;&nbsp;&nbsp;&nbsp;25065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3972 |
|  | &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | &nbsp;&nbsp; 68118 | &nbsp;&nbsp; 3103 |
|  | &nbsp;&nbsp;&nbsp;Lamb Weston Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3026 |

---

------

Equity Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Brown-Forman Corp. Class B | &nbsp;&nbsp;&nbsp;&nbsp;42861 | &nbsp;&nbsp; 2815 |
|  | &nbsp;&nbsp;&nbsp;Campbell Soup Co. | &nbsp;&nbsp; 47193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2678 |
|  | &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. Class B | &nbsp;&nbsp;&nbsp;&nbsp;44053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2270 |
| **** |  |  | **543528** |
| **Energy (5.2%)** | **Energy (5.2%)** | **Energy (5.2%)** | **Energy (5.2%)** |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 967488 | &nbsp;&nbsp; 106714 |
|  | &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp; 417916 | &nbsp;&nbsp; 75012 |
|  | &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp; 292719 | &nbsp;&nbsp;&nbsp;&nbsp;34541 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | &nbsp;&nbsp; 137979 | &nbsp;&nbsp; 17871 |
|  | &nbsp;&nbsp;&nbsp;Schlumberger Ltd. | &nbsp;&nbsp; 333133 | &nbsp;&nbsp; 17809 |
|  | &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp; 110083 | &nbsp;&nbsp; 12813 |
|  | &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. | &nbsp;&nbsp; 55812 | &nbsp;&nbsp; 12747 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp; 111017 | &nbsp;&nbsp; 11555 |
|  | &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;90559 | &nbsp;&nbsp; 11488 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | &nbsp;&nbsp; 170821 | &nbsp;&nbsp; 10760 |
|  | &nbsp;&nbsp;&nbsp;Devon Energy Corp. | &nbsp;&nbsp; 153592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9447 |
|  | &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | &nbsp;&nbsp; 286132 | &nbsp;&nbsp; 9414 |
|  | &nbsp;&nbsp;&nbsp;Hess Corp. | &nbsp;&nbsp;&nbsp;&nbsp;65207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9248 |
|  | &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | &nbsp;&nbsp;&nbsp;&nbsp;464837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8404 |
|  | &nbsp;&nbsp;&nbsp;Halliburton Co. | &nbsp;&nbsp; 213398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8397 |
|  | &nbsp;&nbsp;&nbsp;Baker Hughes Co. Class A | &nbsp;&nbsp; 235001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6940 |
|  | &nbsp;&nbsp;&nbsp;ONEOK Inc. | &nbsp;&nbsp; 104890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6891 |
|  | &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | &nbsp;&nbsp; 41319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5652 |
|  | &nbsp;&nbsp;&nbsp;Coterra Energy Inc. | &nbsp;&nbsp; 185226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4551 |
|  | &nbsp;&nbsp;&nbsp;Marathon Oil Corp. | &nbsp;&nbsp; 149255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4040 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;53257 | &nbsp;&nbsp; 3914 |
|  | &nbsp;&nbsp;&nbsp;APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;86346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2921 |
| **** |  |  | **394658** |
| **Financials (11.6%)** | **Financials (11.6%)** | **Financials (11.6%)** | **Financials (11.6%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;423267 | &nbsp;&nbsp; 130747 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;689091 | &nbsp;&nbsp;&nbsp;&nbsp;92407 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1639688 | &nbsp;&nbsp;&nbsp;&nbsp;54306 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp; 895196 | &nbsp;&nbsp;&nbsp;&nbsp;36963 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;358333 | &nbsp;&nbsp;&nbsp;&nbsp;29835 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79547 | &nbsp;&nbsp; 27315 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;309685 | &nbsp;&nbsp;&nbsp;&nbsp;26329 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78230 | &nbsp;&nbsp;&nbsp;&nbsp;26202 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35284 | &nbsp;&nbsp;&nbsp;&nbsp;25003 |
|  | &nbsp;&nbsp;&nbsp;Chubb Ltd. | &nbsp;&nbsp; 97515 | &nbsp;&nbsp; 21512 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp; 140438 | &nbsp;&nbsp;&nbsp;&nbsp;20750 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;455007 | &nbsp;&nbsp;&nbsp;&nbsp;20580 |
|  | &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | &nbsp;&nbsp; 116538 | &nbsp;&nbsp; 19285 |
|  | &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp; 137454 | &nbsp;&nbsp; 17829 |
|  | &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94752 | &nbsp;&nbsp; 14965 |
|  | &nbsp;&nbsp;&nbsp;Aon plc Class A | &nbsp;&nbsp;&nbsp;&nbsp;48595 | &nbsp;&nbsp; 14585 |
|  | &nbsp;&nbsp;&nbsp;CME Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84506 | &nbsp;&nbsp; 14211 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp; 317639 | &nbsp;&nbsp; 13852 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | &nbsp;&nbsp; 131215 | &nbsp;&nbsp; 13461 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp; 311692 | &nbsp;&nbsp; 13412 |
|  | &nbsp;&nbsp;&nbsp;MetLife Inc. | &nbsp;&nbsp; 154843 | &nbsp;&nbsp; 11206 |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | &nbsp;&nbsp; 174527 | &nbsp;&nbsp; 11037 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55055 | &nbsp;&nbsp; 10322 |
|  | &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp; 37010 | &nbsp;&nbsp; 10312 |
|  | &nbsp;&nbsp;&nbsp;Aflac Inc. | &nbsp;&nbsp; 132930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9563 |
|  | &nbsp;&nbsp;&nbsp;Arthur J Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;49537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9340 |
|  | &nbsp;&nbsp;&nbsp;MSCI Inc. Class A | &nbsp;&nbsp; 18788 | &nbsp;&nbsp; 8740 |
|  | &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 |
|  | &nbsp;&nbsp;&nbsp;Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8451 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;89704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8339 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp; 172895 | &nbsp;&nbsp; 7870 |
|  | &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | &nbsp;&nbsp; 25015 | &nbsp;&nbsp; 7789 |
|  | &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;86305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6695 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | &nbsp;&nbsp; 64141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6275 |
|  | &nbsp;&nbsp;&nbsp;Willis Towers Watson plc | &nbsp;&nbsp;&nbsp;&nbsp;25404 | &nbsp;&nbsp; 6213 |
|  | &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5878 |
|  | &nbsp;&nbsp;&nbsp;T. Rowe Price Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5721 |
|  | &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | &nbsp;&nbsp; 74665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5662 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arch Capital Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;86836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5452 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp; 161178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5288 |
|  | &nbsp;&nbsp;&nbsp;First Republic Bank | &nbsp;&nbsp;&nbsp;&nbsp;42956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5236 |
|  | &nbsp;&nbsp;&nbsp;Nasdaq Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4885 |
|  | &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | &nbsp;&nbsp; 45414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4853 |
|  | &nbsp;&nbsp;&nbsp;Huntington Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;338875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4778 |
|  | &nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp; 219503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4733 |
|  | &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | &nbsp;&nbsp; 115502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4547 |
|  | &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4486 |
|  | &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;48993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4335 |
|  | &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp; 219299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3820 |
|  | &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3782 |
|  | &nbsp;&nbsp;&nbsp;FactSet Research Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3594 |
|  | &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp; 105967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3482 |
|  | &nbsp;&nbsp;&nbsp;W R Berkley Corp. | &nbsp;&nbsp; 47934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3479 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SVB Financial Group | &nbsp;&nbsp; 13857 | &nbsp;&nbsp; 3189 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55294 | &nbsp;&nbsp; 3150 |
|  | &nbsp;&nbsp;&nbsp;Cboe Global Markets Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24873 | &nbsp;&nbsp; 3121 |
|  | &nbsp;&nbsp;&nbsp;Everest Re Group Ltd. | &nbsp;&nbsp; 9201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048 |
|  | &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;46377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2705 |
|  | &nbsp;&nbsp;&nbsp;Globe Life Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557 |
|  | &nbsp;&nbsp;&nbsp;MarketAxess Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2462 |
|  | &nbsp;&nbsp;&nbsp;Comerica Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060 |
|  | &nbsp;&nbsp;&nbsp;Invesco Ltd. | &nbsp;&nbsp;&nbsp; 107121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927 |
|  | &nbsp;&nbsp;&nbsp;Franklin Resources Inc. | &nbsp;&nbsp; 66976 | &nbsp;&nbsp; 1767 |
|  | &nbsp;&nbsp;&nbsp;Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp;35260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733 |
|  | &nbsp;&nbsp;&nbsp;Signature Bank | &nbsp;&nbsp; 14854 | &nbsp;&nbsp; 1712 |
|  | &nbsp;&nbsp;&nbsp;Assurant Inc. | &nbsp;&nbsp; 12428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554 |
|  | &nbsp;&nbsp;&nbsp;Lincoln National Corp. | &nbsp;&nbsp; 36133 | &nbsp;&nbsp; 1110 |
| **** |  |  | **880407** |
| **Health Care (15.7%)** | **Health Care (15.7%)** | **Health Care (15.7%)** | **Health Care (15.7%)** |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | &nbsp;&nbsp; 219504 | &nbsp;&nbsp; 116377 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 614221 | &nbsp;&nbsp; 108502 |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp; 185275 | &nbsp;&nbsp; 67781 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | &nbsp;&nbsp;1318723 | &nbsp;&nbsp; 67571 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | &nbsp;&nbsp; 415463 | &nbsp;&nbsp; 67143 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;595635 | &nbsp;&nbsp;&nbsp;&nbsp;66086 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | &nbsp;&nbsp; 92137 | &nbsp;&nbsp;&nbsp;&nbsp;50739 |
|  | &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;409593 | &nbsp;&nbsp;&nbsp;&nbsp;44969 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp; 153915 | &nbsp;&nbsp;&nbsp;&nbsp;40852 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;499490 | &nbsp;&nbsp;&nbsp;&nbsp;35938 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | &nbsp;&nbsp; 125349 | &nbsp;&nbsp;&nbsp;&nbsp;32922 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | &nbsp;&nbsp; 56106 | &nbsp;&nbsp;&nbsp;&nbsp;28781 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;308683 | &nbsp;&nbsp; 28766 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;294653 | &nbsp;&nbsp;&nbsp;&nbsp;25296 |
|  | &nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp; 312227 | &nbsp;&nbsp;&nbsp;&nbsp;24266 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | &nbsp;&nbsp;&nbsp;&nbsp;71823 | &nbsp;&nbsp;&nbsp;&nbsp;23798 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Intuitive Surgical Inc. | &nbsp;&nbsp; 83014 | &nbsp;&nbsp;&nbsp;&nbsp;22028 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp; 79114 | &nbsp;&nbsp; 19343 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals Inc. | &nbsp;&nbsp; 25157 | &nbsp;&nbsp; 18151 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60303 | &nbsp;&nbsp;&nbsp; 17414 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;66989 | &nbsp;&nbsp; 17035 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. Class A | &nbsp;&nbsp; 109494 | &nbsp;&nbsp; 16046 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;336430 | &nbsp;&nbsp; 15567 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | &nbsp;&nbsp; 29740 | &nbsp;&nbsp; 15233 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Moderna Inc. | &nbsp;&nbsp; 77618 | &nbsp;&nbsp; 13942 |
|  | &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp; 33310 | &nbsp;&nbsp; 12495 |
|  | &nbsp;&nbsp;&nbsp;HCA Healthcare Inc. | &nbsp;&nbsp; 49810 | &nbsp;&nbsp; 11952 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Centene Corp. | &nbsp;&nbsp; 133024 | &nbsp;&nbsp; 10909 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp. | &nbsp;&nbsp; 145220 | &nbsp;&nbsp; 10835 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69551 | &nbsp;&nbsp; 10408 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dexcom Inc. | &nbsp;&nbsp; 90740 | &nbsp;&nbsp; 10275 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Biogen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9370 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;IQVIA Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8942 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;IDEXX Laboratories Inc. | &nbsp;&nbsp; 19452 | &nbsp;&nbsp; 7936 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Mettler-Toledo International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5241 | &nbsp;&nbsp; 7576 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Illumina Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36982 | &nbsp;&nbsp; 7478 |
|  | &nbsp;&nbsp;&nbsp;ResMed Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34441 | &nbsp;&nbsp; 7168 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6298 |

---

------

Equity Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6280 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | &nbsp;&nbsp; 118330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6031 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | &nbsp;&nbsp; 20810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Waters Corp. | &nbsp;&nbsp; 13952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4780 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4732 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Molina Healthcare Inc. | &nbsp;&nbsp; 13719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4530 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Hologic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4391 |
|  | &nbsp;&nbsp;&nbsp;STERIS plc | &nbsp;&nbsp;&nbsp;&nbsp;23478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4336 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | &nbsp;&nbsp; 26764 | &nbsp;&nbsp; 4187 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29655 | &nbsp;&nbsp; 4158 |
|  | &nbsp;&nbsp;&nbsp;West Pharmaceutical Services Inc. | &nbsp;&nbsp; 17394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4094 |
|  | &nbsp;&nbsp;&nbsp;Cooper Cos. Inc. | &nbsp;&nbsp; 11600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3836 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Align Technology Inc. | &nbsp;&nbsp; 17079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3602 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Incyte Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3488 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;284299 | &nbsp;&nbsp; 3164 |
|  | &nbsp;&nbsp;&nbsp;Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051 |
|  | &nbsp;&nbsp;&nbsp;Teleflex Inc. | &nbsp;&nbsp; 11020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2751 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Charles River Laboratories International Inc. | &nbsp;&nbsp; 11949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2604 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Henry Schein Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550 |
|  | &nbsp;&nbsp;&nbsp;Universal Health Services Inc. Class B | &nbsp;&nbsp; 15128 | &nbsp;&nbsp; 2131 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Bio-Rad Laboratories Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5042 | &nbsp;&nbsp; 2120 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Catalent Inc. | &nbsp;&nbsp; 42146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1897 |
|  | &nbsp;&nbsp;&nbsp;Organon & Co. | &nbsp;&nbsp;&nbsp;&nbsp;59648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666 |
|  | &nbsp;&nbsp;&nbsp;DENTSPLY SIRONA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50686 | &nbsp;&nbsp; 1614 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DaVita Inc. | &nbsp;&nbsp; 12890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963 |
| **** |  |  | &nbsp;&nbsp;**1194044** |
| **Industrials (8.6%)** | **Industrials (8.6%)** | **Industrials (8.6%)** | **Industrials (8.6%)** |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;345349 | &nbsp;&nbsp;&nbsp;&nbsp;34853 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | &nbsp;&nbsp; 157933 | &nbsp;&nbsp;&nbsp;&nbsp;33845 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 144429 | &nbsp;&nbsp;&nbsp;&nbsp;29907 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. Class B | &nbsp;&nbsp; 171421 | &nbsp;&nbsp;&nbsp;&nbsp;29800 |
|  | &nbsp;&nbsp;&nbsp;Caterpillar Inc. | &nbsp;&nbsp; 122254 | &nbsp;&nbsp;&nbsp;&nbsp;29287 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;64523 | &nbsp;&nbsp; 27665 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54791 | &nbsp;&nbsp;&nbsp;&nbsp;26655 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Boeing Co. | &nbsp;&nbsp; 131606 | &nbsp;&nbsp;&nbsp;&nbsp;25070 |
|  | &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;256685 | &nbsp;&nbsp;&nbsp;&nbsp;21508 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33985 | &nbsp;&nbsp; 18543 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp; 129835 | &nbsp;&nbsp; 15570 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;493879 | &nbsp;&nbsp; 15300 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. plc | &nbsp;&nbsp; 93418 | &nbsp;&nbsp; 14662 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65671 | &nbsp;&nbsp; 14467 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | &nbsp;&nbsp; 87755 | &nbsp;&nbsp; 13767 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54385 | &nbsp;&nbsp; 13402 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp; 138890 | &nbsp;&nbsp; 13342 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp; 52876 | &nbsp;&nbsp; 13119 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | &nbsp;&nbsp; 161829 | &nbsp;&nbsp; 10357 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56238 | &nbsp;&nbsp; 9740 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44755 | &nbsp;&nbsp; 9318 |
|  | &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20279 | &nbsp;&nbsp; 9158 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies plc | &nbsp;&nbsp; 54128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9098 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp; 30173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8780 |
|  | &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp; 196558 | &nbsp;&nbsp; 8108 |
|  | &nbsp;&nbsp;&nbsp;PACCAR Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8089 |
|  | &nbsp;&nbsp;&nbsp;Cummins Inc. | &nbsp;&nbsp; 33144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8030 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp; 97920 | &nbsp;&nbsp; 7668 |
|  | &nbsp;&nbsp;&nbsp;TransDigm Group Inc. | &nbsp;&nbsp; 12144 | &nbsp;&nbsp; 7647 |
|  | &nbsp;&nbsp;&nbsp;AMETEK Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53998 | &nbsp;&nbsp; 7545 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CoStar Group Inc. | &nbsp;&nbsp; 95614 | &nbsp;&nbsp; 7389 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6947 |
|  | &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. Class A | &nbsp;&nbsp; 36767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6486 |
|  | &nbsp;&nbsp;&nbsp;Fastenal Co. | &nbsp;&nbsp; 134651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6372 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;48203 | &nbsp;&nbsp; 6218 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Copart Inc. | &nbsp;&nbsp; 100578 | &nbsp;&nbsp; 6124 |
|  | &nbsp;&nbsp;&nbsp;Old Dominion Freight Line Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6034 |
|  | &nbsp;&nbsp;&nbsp;WW Grainger Inc. | &nbsp;&nbsp; 10557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5872 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;United Rentals Inc. | &nbsp;&nbsp; 16272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5783 |
|  | &nbsp;&nbsp;&nbsp;Equifax Inc. | &nbsp;&nbsp; 28747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5587 |
|  | &nbsp;&nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp; 83141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5342 |
|  | &nbsp;&nbsp;&nbsp;Ingersoll Rand Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4969 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Delta Air Lines Inc. | &nbsp;&nbsp; 150549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4947 |
|  | &nbsp;&nbsp;&nbsp;Quanta Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4786 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp; 139399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4694 |
|  | &nbsp;&nbsp;&nbsp;Xylem Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4682 |
|  | &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4465 |
|  | &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4265 |
|  | &nbsp;&nbsp;&nbsp;IDEX Corp. | &nbsp;&nbsp; 17735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4049 |
|  | &nbsp;&nbsp;&nbsp;Expeditors International of Washington Inc. | &nbsp;&nbsp; 37400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3887 |
|  | &nbsp;&nbsp;&nbsp;Jacobs Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3602 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49090 | &nbsp;&nbsp; 3476 |
|  | &nbsp;&nbsp;&nbsp;Howmet Aerospace Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3407 |
|  | &nbsp;&nbsp;&nbsp;JB Hunt Transport Services Inc. | &nbsp;&nbsp; 19500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 |
|  | &nbsp;&nbsp;&nbsp;Leidos Holdings Inc. | &nbsp;&nbsp; 32144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381 |
|  | &nbsp;&nbsp;&nbsp;Nordson Corp. | &nbsp;&nbsp; 12597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;United Airlines Holdings Inc. | &nbsp;&nbsp; 76946 | &nbsp;&nbsp; 2901 |
|  | &nbsp;&nbsp;&nbsp;Snap-on Inc. | &nbsp;&nbsp; 12453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34835 | &nbsp;&nbsp; 2617 |
|  | &nbsp;&nbsp;&nbsp;CH Robinson Worldwide Inc. | &nbsp;&nbsp; 27724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2467 |
|  | &nbsp;&nbsp;&nbsp;Allegion plc | &nbsp;&nbsp;&nbsp;&nbsp;20566 | &nbsp;&nbsp; 2165 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9367 | &nbsp;&nbsp; 2161 |
|  | &nbsp;&nbsp;&nbsp;Rollins Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;American Airlines Group Inc. | &nbsp;&nbsp; 152185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936 |
|  | &nbsp;&nbsp;&nbsp;Robert Half International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882 |
|  | &nbsp;&nbsp;&nbsp;Pentair plc | &nbsp;&nbsp;&nbsp;&nbsp;38504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732 |
|  | &nbsp;&nbsp;&nbsp;A O Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Generac Holdings Inc. | &nbsp;&nbsp; 14958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alaska Air Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1279 |
| **** |  |  | &nbsp;&nbsp; **653175** |
| **Information Technology (25.6%)** | **Information Technology (25.6%)** | **Information Technology (25.6%)** | **Information Technology (25.6%)** |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | &nbsp;&nbsp;3512970 | &nbsp;&nbsp;&nbsp;&nbsp;456439 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 1751241 | &nbsp;&nbsp; 419983 |
|  | &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;584962 | &nbsp;&nbsp;&nbsp;&nbsp;85486 |
|  | &nbsp;&nbsp;&nbsp;Visa Inc. Class A | &nbsp;&nbsp; 384104 | &nbsp;&nbsp; 79801 |
|  | &nbsp;&nbsp;&nbsp;Mastercard Inc. Class A | &nbsp;&nbsp; 199423 | &nbsp;&nbsp;&nbsp;&nbsp;69345 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | &nbsp;&nbsp; 95146 | &nbsp;&nbsp; 53199 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;964543 | &nbsp;&nbsp;&nbsp;&nbsp;45951 |
|  | &nbsp;&nbsp;&nbsp;Accenture plc Class A | &nbsp;&nbsp; 148019 | &nbsp;&nbsp;&nbsp;&nbsp;39497 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Adobe Inc. | &nbsp;&nbsp; 109212 | &nbsp;&nbsp;&nbsp;&nbsp;36753 |
|  | &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | &nbsp;&nbsp; 213209 | &nbsp;&nbsp;&nbsp;&nbsp;35226 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Salesforce Inc. | &nbsp;&nbsp; 234913 | &nbsp;&nbsp; 31147 |
|  | &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp; 212391 | &nbsp;&nbsp;&nbsp;&nbsp;29924 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 361010 | &nbsp;&nbsp;&nbsp;&nbsp;29509 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | &nbsp;&nbsp;&nbsp;&nbsp;263347 | &nbsp;&nbsp;&nbsp;&nbsp;28952 |
|  | &nbsp;&nbsp;&nbsp;Intuit Inc. | &nbsp;&nbsp; 66212 | &nbsp;&nbsp;&nbsp;&nbsp;25771 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp; 969514 | &nbsp;&nbsp;&nbsp;&nbsp;25624 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Advanced Micro Devices Inc. | &nbsp;&nbsp;&nbsp;&nbsp;378772 | &nbsp;&nbsp;&nbsp;&nbsp;24533 |
|  | &nbsp;&nbsp;&nbsp;Automatic Data Processing Inc. | &nbsp;&nbsp; 97447 | &nbsp;&nbsp; 23276 |
|  | &nbsp;&nbsp;&nbsp;Analog Devices Inc. | &nbsp;&nbsp; 120825 | &nbsp;&nbsp; 19819 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | &nbsp;&nbsp; 202100 | &nbsp;&nbsp; 19681 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | &nbsp;&nbsp;&nbsp; 267811 | &nbsp;&nbsp; 19074 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ServiceNow Inc. | &nbsp;&nbsp; 47451 | &nbsp;&nbsp; 18424 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fiserv Inc. | &nbsp;&nbsp; 149165 | &nbsp;&nbsp; 15076 |
|  | &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32037 | &nbsp;&nbsp; 13465 |
|  | &nbsp;&nbsp;&nbsp;Micron Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;255393 | &nbsp;&nbsp; 12765 |
|  | &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33289 | &nbsp;&nbsp; 12551 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Synopsys Inc. | &nbsp;&nbsp; 35917 | &nbsp;&nbsp; 11468 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | &nbsp;&nbsp; 24912 | &nbsp;&nbsp; 10764 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. Class A | &nbsp;&nbsp; 139785 | &nbsp;&nbsp; 10643 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cadence Design Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64441 | &nbsp;&nbsp; 10352 |
|  | &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39281 | &nbsp;&nbsp; 10123 |
|  | &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;60888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9622 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Autodesk Inc. | &nbsp;&nbsp; 50716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9477 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | &nbsp;&nbsp; 139390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9458 |
|  | &nbsp;&nbsp;&nbsp;Microchip Technology Inc. | &nbsp;&nbsp; 129259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9080 |
|  | &nbsp;&nbsp;&nbsp;Paychex Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8709 |
|  | &nbsp;&nbsp;&nbsp;TE Connectivity Ltd. | &nbsp;&nbsp; 74741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8580 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Enphase Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8463 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fortinet Inc. | &nbsp;&nbsp; 152431 | &nbsp;&nbsp; 7452 |

---

------

Equity Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Keysight Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42035 | &nbsp;&nbsp; 7191 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arista Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58200 | &nbsp;&nbsp; 7063 |
|  | &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp. Class A | &nbsp;&nbsp; 120605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6897 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ON Semiconductor Corp. | &nbsp;&nbsp; 101484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6330 |
|  | &nbsp;&nbsp;&nbsp;Global Payments Inc. | &nbsp;&nbsp; 63474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6304 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Gartner Inc. | &nbsp;&nbsp; 18549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6235 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | &nbsp;&nbsp; 178694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5708 |
|  | &nbsp;&nbsp;&nbsp;CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31782 | &nbsp;&nbsp; 5676 |
|  | &nbsp;&nbsp;&nbsp;HP Inc. | &nbsp;&nbsp; 207831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5584 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ANSYS Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4943 |
|  | &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;302228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4824 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;VeriSign Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4452 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;EPAM Systems Inc. | &nbsp;&nbsp; 13512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4428 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | &nbsp;&nbsp; 11015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4405 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SolarEdge Technologies Inc. | &nbsp;&nbsp; 13142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3723 |
|  | &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions Inc. | &nbsp;&nbsp; 27660 | &nbsp;&nbsp; 3710 |
|  | &nbsp;&nbsp;&nbsp;Monolithic Power Systems Inc. | &nbsp;&nbsp; 10485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3708 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Paycom Software Inc. | &nbsp;&nbsp; 11430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3547 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;First Solar Inc. | &nbsp;&nbsp; 23311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3492 |
|  | &nbsp;&nbsp;&nbsp;Skyworks Solutions Inc. | &nbsp;&nbsp; 37688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3435 |
|  | &nbsp;&nbsp;&nbsp;Teradyne Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3203 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;FleetCor Technologies Inc. | &nbsp;&nbsp; 17350 | &nbsp;&nbsp; 3187 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tyler Technologies Inc. | &nbsp;&nbsp; 9760 | &nbsp;&nbsp; 3147 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Akamai Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36979 | &nbsp;&nbsp; 3117 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zebra Technologies Corp. Class A | &nbsp;&nbsp; 12108 | &nbsp;&nbsp; 3105 |
|  | &nbsp;&nbsp;&nbsp;NetApp Inc. | &nbsp;&nbsp; 51146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3072 |
|  | &nbsp;&nbsp;&nbsp;Jack Henry & Associates Inc. | &nbsp;&nbsp;&nbsp; 17165 | &nbsp;&nbsp; 3014 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PTC Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2986 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Trimble Inc. | &nbsp;&nbsp; 57870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926 |
|  | &nbsp;&nbsp;&nbsp;Gen Digital Inc. | &nbsp;&nbsp; 136448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2924 |
|  | &nbsp;&nbsp;&nbsp;Juniper Networks Inc. | &nbsp;&nbsp; 76455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2444 |
|  | &nbsp;&nbsp;&nbsp;Seagate Technology Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp;45241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2380 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp; 74854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ceridian HCM Holding Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Qorvo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23739 | &nbsp;&nbsp; 2152 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;F5 Inc. | &nbsp;&nbsp; 14014 | &nbsp;&nbsp; 2011 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DXC Technology Co. | &nbsp;&nbsp; 54319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439 |
| **** |  |  | **1942908** |
| **Materials (2.7%)** | **Materials (2.7%)** | **Materials (2.7%)** | **Materials (2.7%)** |
|  | &nbsp;&nbsp;&nbsp;Linde plc | &nbsp;&nbsp; 116137 | &nbsp;&nbsp; 37882 |
|  | &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52099 | &nbsp;&nbsp; 16060 |
|  | &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;55394 | &nbsp;&nbsp; 13147 |
|  | &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | &nbsp;&nbsp;&nbsp;&nbsp;335708 | &nbsp;&nbsp; 12757 |
|  | &nbsp;&nbsp;&nbsp;Corteva Inc. | &nbsp;&nbsp; 167881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9868 |
|  | &nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp; 186516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8804 |
|  | &nbsp;&nbsp;&nbsp;Ecolab Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58231 | &nbsp;&nbsp; 8476 |
|  | &nbsp;&nbsp;&nbsp;Dow Inc. | &nbsp;&nbsp; 165417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8335 |
|  | &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | &nbsp;&nbsp; 116776 | &nbsp;&nbsp; 8014 |
|  | &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp; 60301 | &nbsp;&nbsp; 7948 |
|  | &nbsp;&nbsp;&nbsp;PPG Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6949 |
|  | &nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59842 | &nbsp;&nbsp; 6274 |
|  | &nbsp;&nbsp;&nbsp;Albemarle Corp. | &nbsp;&nbsp; 27495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5963 |
|  | &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;31209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5465 |
|  | &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV Class A | &nbsp;&nbsp;&nbsp;&nbsp;59695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4956 |
|  | &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | &nbsp;&nbsp; 14579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4927 |
|  | &nbsp;&nbsp;&nbsp;Amcor plc | &nbsp;&nbsp; 349910 | &nbsp;&nbsp; 4167 |
|  | &nbsp;&nbsp;&nbsp;CF Industries Holdings Inc. | &nbsp;&nbsp; 46111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3929 |
|  | &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3831 |
|  | &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;73848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777 |
|  | &nbsp;&nbsp;&nbsp;FMC Corp. | &nbsp;&nbsp; 29614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3696 |
|  | &nbsp;&nbsp;&nbsp;Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;80068 | &nbsp;&nbsp; 3513 |
|  | &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | &nbsp;&nbsp; 19029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3444 |
|  | &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp; 83716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2899 |
|  | &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;21785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2787 |
|  | &nbsp;&nbsp;&nbsp;Celanese Corp. Class A | &nbsp;&nbsp; 23401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392 |
|  | &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | &nbsp;&nbsp;&nbsp;&nbsp;28088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2287 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Westrock Co. | &nbsp;&nbsp;&nbsp;&nbsp;59693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099 |
|  | &nbsp;&nbsp;&nbsp;Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698 |
| **** |  |  | **206344** |
| **Real Estate (2.7%)** | **Real Estate (2.7%)** | **Real Estate (2.7%)** | **Real Estate (2.7%)** |
|  | &nbsp;&nbsp;&nbsp;Prologis Inc. | &nbsp;&nbsp; 216845 | &nbsp;&nbsp;&nbsp;&nbsp;24445 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp; 109373 | &nbsp;&nbsp; 23172 |
|  | &nbsp;&nbsp;&nbsp;Equinix Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21738 | &nbsp;&nbsp; 14239 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle Inc. | &nbsp;&nbsp; 101719 | &nbsp;&nbsp; 13797 |
|  | &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp; 37129 | &nbsp;&nbsp; 10403 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | &nbsp;&nbsp;&nbsp; 147314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9344 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group Inc. | &nbsp;&nbsp; 76815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9024 |
|  | &nbsp;&nbsp;&nbsp;VICI Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;226427 | &nbsp;&nbsp; 7336 |
|  | &nbsp;&nbsp;&nbsp;Welltower Inc. | &nbsp;&nbsp; 111095 | &nbsp;&nbsp; 7282 |
|  | &nbsp;&nbsp;&nbsp;SBA Communications Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;25386 | &nbsp;&nbsp;&nbsp; 7116 |
|  | &nbsp;&nbsp;&nbsp;Digital Realty Trust Inc. | &nbsp;&nbsp; 67469 | &nbsp;&nbsp; 6765 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CBRE Group Inc. Class A | &nbsp;&nbsp; 74180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5709 |
|  | &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | &nbsp;&nbsp; 173071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5365 |
|  | &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5305 |
|  | &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35062 | &nbsp;&nbsp; 5108 |
|  | &nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;79875 | &nbsp;&nbsp; 4713 |
|  | &nbsp;&nbsp;&nbsp;Extra Space Storage Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4630 |
|  | &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities Inc. | &nbsp;&nbsp; 27145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4262 |
|  | &nbsp;&nbsp;&nbsp;Ventas Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4235 |
|  | &nbsp;&nbsp;&nbsp;Invitation Homes Inc. | &nbsp;&nbsp; 136485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4045 |
|  | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408 |
|  | &nbsp;&nbsp;&nbsp;Essex Property Trust Inc. | &nbsp;&nbsp; 15223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3226 |
|  | &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | &nbsp;&nbsp; 126454 | &nbsp;&nbsp; 3170 |
|  | &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | &nbsp;&nbsp; 144971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3071 |
|  | &nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;24990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796 |
|  | &nbsp;&nbsp;&nbsp;UDR Inc. | &nbsp;&nbsp; 72011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2789 |
|  | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts Inc. | &nbsp;&nbsp; 167569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2268 |
|  | &nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253 |
|  | &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp; 17136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731 |
|  | &nbsp;&nbsp;&nbsp;Vornado Realty Trust | &nbsp;&nbsp; 37971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 |
| **** |  |  | **204487** |
| **Utilities (3.2%)** | **Utilities (3.2%)** | **Utilities (3.2%)** | **Utilities (3.2%)** |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;466838 | &nbsp;&nbsp;&nbsp;&nbsp;39028 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp; 180905 | &nbsp;&nbsp; 18631 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp; 255749 | &nbsp;&nbsp; 18263 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | &nbsp;&nbsp; 195703 | &nbsp;&nbsp; 12000 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | &nbsp;&nbsp; 120692 | &nbsp;&nbsp; 11460 |
|  | &nbsp;&nbsp;&nbsp;Sempra Energy | &nbsp;&nbsp;&nbsp;&nbsp;73821 | &nbsp;&nbsp; 11408 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;233446 | &nbsp;&nbsp; 10092 |
|  | &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | &nbsp;&nbsp; 128554 | &nbsp;&nbsp; 9013 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Inc. | &nbsp;&nbsp;&nbsp;&nbsp;83406 | &nbsp;&nbsp; 7949 |
|  | &nbsp;&nbsp;&nbsp;Public Service Enterprise Group Inc. | &nbsp;&nbsp;&nbsp; 117321 | &nbsp;&nbsp; 7188 |
|  | &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | &nbsp;&nbsp;&nbsp; 74174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6955 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;81902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6867 |
|  | &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp; 76740 | &nbsp;&nbsp; 6616 |
|  | &nbsp;&nbsp;&nbsp;American Water Works Co. Inc. | &nbsp;&nbsp; 42765 | &nbsp;&nbsp; 6518 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp; 377930 | &nbsp;&nbsp; 6145 |
|  | &nbsp;&nbsp;&nbsp;Edison International | &nbsp;&nbsp;&nbsp;&nbsp;89641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5703 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5398 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp; 47773 | &nbsp;&nbsp; 5374 |
|  | &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | &nbsp;&nbsp; 127533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5349 |
|  | &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;45495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5347 |
|  | &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp; 172900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5052 |
|  | &nbsp;&nbsp;&nbsp;AES Corp. | &nbsp;&nbsp;&nbsp; 157010 | &nbsp;&nbsp; 4516 |
|  | &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | &nbsp;&nbsp; 147904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4436 |
|  | &nbsp;&nbsp;&nbsp;CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4321 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3686 |
|  | &nbsp;&nbsp;&nbsp;Evergy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 |
|  | &nbsp;&nbsp;&nbsp;Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3262 |
|  | &nbsp;&nbsp;&nbsp;NiSource Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622 |
|  | &nbsp;&nbsp;&nbsp;Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26498 | &nbsp;&nbsp; 2015 |

---

------

Equity Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;NRG Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1716 |
| **** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **240330** |
| **Total Common Stocks<br> (Cost $4,518,772)** | **Total Common Stocks<br> (Cost $4,518,772)** | **Total Common Stocks<br> (Cost $4,518,772)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7548849** |
| **Temporary Cash Investments (0.6%)** | **Temporary Cash Investments (0.6%)** | **Temporary Cash Investments (0.6%)** | **Temporary Cash Investments (0.6%)** |
| **Money Market Fund (0.6%)** | **Money Market Fund (0.6%)** | **Money Market Fund (0.6%)** | **Money Market Fund (0.6%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334%<br> **(Cost $42,922)** | &nbsp;&nbsp;&nbsp;&nbsp;429268 | **42922** |
| **Total Investments (100.0%)<br> (Cost $4,561,694)** | **Total Investments (100.0%)<br> (Cost $4,561,694)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7591771** |
| **Other Assets and Liabilities—Net (0.0%)** | **Other Assets and Liabilities—Net (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(207)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7591564** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

\* Non-income-producing security. <br> 1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini S&P 500 Index | March 2023 | 219 | 42278 | &nbsp;&nbsp;(1089) |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Index Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $4,518,772) | &nbsp;&nbsp;7548849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $42,922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42922 |
| Total Investments in Securities | &nbsp;&nbsp;7591771 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2814 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6704 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3592 |
| **Total Assets** | &nbsp;&nbsp;**7605970** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12115 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14406** |
| **Net Assets** | &nbsp;&nbsp;**7591564** |
| <br> **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;4182305 |
| Total Distributable Earnings (Loss) | 3409259 |
| **Net Assets** | &nbsp;&nbsp;**7591564** |
| **Net Assets** |  |
| **Applicable to 149,619,587 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**7591564** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$50.74** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Index Portfolio

Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;129892 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;130475 |
| **Expenses** |  |
| The Vanguard Group—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11275 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11273 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;**119202** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;272286 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4879) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**267407** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | (2077965) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2163) |
| **Change in Unrealized Appreciation (Depreciation)** | **(2080128)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(1693519)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $58,000. |
| 2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $537,000, ($1000), less than $1,000, and $4,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Index Portfolio

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105618 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359238 |
| Change in Unrealized Appreciation (Depreciation) | (2080128) | &nbsp;&nbsp;&nbsp;&nbsp;1644218 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | (1693519) | &nbsp;&nbsp;&nbsp;&nbsp;2109074 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(465299) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(418079) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;849472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711464 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;465299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418079 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(918334) | &nbsp;&nbsp;&nbsp;(1021957) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;396437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107586 |
| Total Increase (Decrease) | &nbsp;&nbsp;(1762381) | &nbsp;&nbsp;&nbsp;&nbsp;1798581 |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**9353945** | &nbsp;&nbsp;&nbsp;&nbsp;**7555364** |
| **End of Period** | &nbsp;&nbsp;&nbsp;**7591564** | &nbsp;&nbsp;&nbsp;&nbsp;**9353945** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Index Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$65.47** | &nbsp;&nbsp;&nbsp;**$53.76** | &nbsp;&nbsp;&nbsp;**$47.70** | &nbsp;&nbsp;&nbsp;**$38.03** | &nbsp;&nbsp;&nbsp;**$41.17** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.804 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;(12.244) | &nbsp;&nbsp;&nbsp;&nbsp;13.978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.014 | &nbsp;&nbsp;&nbsp;&nbsp;10.791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.556) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;(11.438) | &nbsp;&nbsp;&nbsp;&nbsp;14.716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.812 | &nbsp;&nbsp;&nbsp;&nbsp;11.596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.752) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.758) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.754) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.806) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.834) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.703) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.534) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.252) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.092) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.685) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.006) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.752) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.926) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.388) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$50.74** | &nbsp;&nbsp;&nbsp;**$65.47** | &nbsp;&nbsp;&nbsp;**$53.76** | &nbsp;&nbsp;&nbsp;**$47.70** | &nbsp;&nbsp;&nbsp;**$38.03** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-18.23%** | &nbsp;&nbsp;&nbsp;**28.55%** | &nbsp;&nbsp;&nbsp;**18.20%** | &nbsp;&nbsp;&nbsp;**31.30%** | &nbsp;&nbsp;&nbsp;**-4.51%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$7592 | &nbsp;&nbsp;&nbsp;$9354 | &nbsp;&nbsp;&nbsp;$7555 | &nbsp;&nbsp;&nbsp;$6458 | &nbsp;&nbsp;&nbsp;$4934 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;0.14%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.48% | &nbsp;&nbsp;&nbsp;1.25% | &nbsp;&nbsp;&nbsp;1.73% | &nbsp;&nbsp;&nbsp;1.87% | &nbsp;&nbsp;&nbsp;1.94% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;5% | &nbsp;&nbsp;&nbsp;4% | &nbsp;&nbsp;&nbsp;8% | &nbsp;&nbsp;&nbsp;4% | &nbsp;&nbsp;&nbsp;5% |

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| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.14%. |

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See accompanying Notes, which are an integral part of the Financial Statements.

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Equity Index Portfolio

Notes to Financial Statements

The Equity Index Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The portfolio uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The portfolio may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of

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Equity Index Portfolio

prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

6. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $290,000, representing less than 0.01% of the portfolio's net assets and 0.12% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

C. The portfolio's custodian bank has agreed to reduce its fees when the portfolio maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset arrangements reduced the portfolio's expenses by $2,000 (an annual rate of less than 0.01% of average net assets).

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Equity Index Portfolio

D. Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments and derivatives was determined based on Level 1 inputs.

E. Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; and the recognition of unrealized gains or losses from certain derivative contracts. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114176 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265458 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;3029625 |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;114459 | &nbsp;&nbsp;&nbsp;&nbsp;108293 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;350840 | &nbsp;&nbsp;&nbsp;&nbsp;309786 |
| Total | &nbsp;&nbsp;&nbsp;465299 | &nbsp;&nbsp;&nbsp;&nbsp;418079 |

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\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;4562146 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;3590593 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(560968) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;3029625 |

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F. During the year ended December 31, 2022, the portfolio purchased $485,618,000 of investment securities and sold $435,228,000 of investment securities, other than temporary cash investments.

The portfolio purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $41,152,000 and sales were $23,202,000, resulting in net realized gain of $9,248,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

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Equity Index Portfolio

G. Capital shares issued and redeemed were:

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| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022 | &nbsp;&nbsp;2021 |
|  | Shares<br> (000) | &nbsp;&nbsp;Shares<br> (000) |
| Issued | &nbsp;&nbsp;15519 | &nbsp;&nbsp;&nbsp;11966 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;7787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7731 |
| Redeemed | (16568) | &nbsp;&nbsp;(17343) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;&nbsp;&nbsp;6738 | &nbsp;&nbsp;&nbsp;&nbsp;2354 |

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At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 44% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

H. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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#### Report of Independent Registered

#### Public Accounting Firm
To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Equity Index ‎Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of ‎investments, of Equity Index Portfolio (one of the portfolios constituting Vanguard Variable Insurance ‎Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of ‎operations for the year ended December 31, 2022, the statement of changes in net assets for each of the ‎two years in the period ended December 31, 2022, including the related notes, and the financial highlights ‎for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial ‎statements"). In our opinion, the financial statements present fairly, in all material respects, the financial ‎position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, ‎the changes in its net assets for each of the two years in the period ended December 31, 2022 and the ‎financial highlights for each of the five years in the period ended December 31, 2022 in conformity with ‎accounting principles generally accepted in the United States of America. ‎

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to ‎express an opinion on the Portfolio's financial statements based on our audits. We are a public ‎accounting firm registered with the Public Company Accounting Oversight Board (United States) ‎‎(PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. ‎federal securities laws and the applicable rules and regulations of the Securities and Exchange ‎Commission and the PCAOB. ‎

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. ‎Those standards require that we plan and perform the audit to obtain reasonable assurance about whether ‎the financial statements are free of material misstatement, whether due to error or fraud. ‎

Our audits included performing procedures to assess the risks of material misstatement of the financial ‎statements, whether due to error or fraud, and performing procedures that respond to those risks. Such ‎procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the ‎financial statements. Our audits also included evaluating the accounting principles used and significant ‎estimates made by management, as well as evaluating the overall presentation of the financial ‎statements. Our procedures included confirmation of securities owned as of December 31, 2022 by ‎correspondence with the custodian, transfer agent and brokers; when replies were not received from ‎brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis ‎for our opinion.‎

‎ /s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 15, 2023‎

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds ‎since 1975.

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Tax information (unaudited)

For corporate shareholders, 100.0%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $146,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $350,840,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

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The S&P 500 Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI"), and has been licensed for use by Vanguard. Standard & Poor's<sup>®</sup>, and S&P<sup>®</sup> are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P") and Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). The trademarks have been licensed to SPDJI and have been sublicensed for use for certain purposes by Vanguard. Vanguard Equity Index Portfolio is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices make no representation or warranty, express or implied, to the owners of Vanguard Equity Index Portfolio or any member of the public regarding the advisability of investing in securities generally or in Vanguard Equity Index Portfolio particularly or the ability of the S&P 500 Index to track general market performance. S&P Dow Jones Indices' only relationship to Vanguard with respect to the S&P 500 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index is determined, composed and calculated by S&P Dow Jones Indices without regard to Vanguard or Vanguard Equity Index Portfolio. S&P Dow Jones Indices have no obligation to take the needs of Vanguard or the owners of Vanguard Equity Index Portfolio into consideration in determining, composing or calculating the S&P 500 Index. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of Vanguard Equity Index Portfolio or the timing of the issuance or sale of Vanguard Equity Index Portfolio or in the determination or calculation of the equation by which Vanguard Equity Index Portfolio is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices have no obligation or liability in connection with the administration, marketing or trading of Vanguard Equity Index Portfolio. There is no assurance that investment products based on the S&P 500 Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500 INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF VANGUARD EQUITY INDEX PORTFOLIO, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND VANGUARD, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of

IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

------

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services

(2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. McIsaac** | **Lauren Valente** |

---

------

![](tm231735d7eqtyindporti006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People<br> Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your portfolio on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690EQUX 022023

------

![](tm231735d7glblbndindxi001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Global Bond Index Portfolio<br> (with underlying Total Bond Market Index Portfolio)

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Global Bond Index Portfolio returned –13.13%, roughly in
line with the –12.94% return of its composite benchmark index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which weighed on bond prices and increased fears of recession.

• With few exceptions, bond markets around the world had negative returns, with Eastern Europe posting the worst results. The U.S. bond market—by far the largest weighting in the index—had its worst
calendar year ever. Globally, longer maturities did worse than short-term issues—not surprising in an environment of rising rates. Credit quality was a mixed picture, with bonds rated A faring better than those
with higher or lower ratings.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. The Global Bond Index Portfolio has no direct expenses, but bears its proportionate share of the costs for the underlying funds in which it invests. These indirect expenses make up the acquired fund fees and expenses, also expressed as a percentage of average net assets. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The costs were calculated using the acquired fund fees and expenses for the Global Bond Index Portfolio.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Global Bond Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$969.00 | &nbsp;&nbsp;&nbsp;&nbsp;$0.65 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.66 |

---

The calculations are based on acquired fund fees and expenses for the most recent six-month period. The underlying portfolios' annualized expense figure for that period is 0.13%. The dollar amounts shown as "Expenses Paid" are equal to the annualized average weighted expense ratio for the underlying funds multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Global Bond Index Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: September 7, 2017, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7glblbndindxi002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Since<br> Inception<br> (9/7/2017) | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7glblbndindxi003.jpg) | &nbsp;&nbsp;&nbsp;Global Bond Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-13.13% | &nbsp;&nbsp;&nbsp;&nbsp;-0.12% | &nbsp;&nbsp;&nbsp;&nbsp;-0.14% | &nbsp;&nbsp;&nbsp;&nbsp;$9923 |
| ![](tm231735d7glblbndindxi004.jpg) | &nbsp;&nbsp;&nbsp;Global Bond Composite Index | &nbsp;&nbsp;&nbsp;&nbsp;-12.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10004 |

---

Global Bond Composite Index: Weighted 70% Bloomberg U.S. Aggregate Float Adjusted Index and 30% Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged).

"Since Inception" performance is calculated from the portfolio's inception date for both the portfolio and its comparative standard(s).

See Financial Highlights for dividend and capital gains information.

------

Global Bond Index Portfolio

Underlying Vanguard Funds

As of December 31, 2022

---

| | |
|:---|:---|
| Vanguard Variable Insurance Funds—Total Bond Market Index Portfolio | 70.1% |
| Vanguard Total International Bond Index Fund Admiral Shares | 29.9 |

---

The table reflects the portfolio's investments, except for short-term investments.

------

Global Bond Index Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Investment Companies (100.1%)** | **Investment Companies (100.1%)** | **Investment Companies (100.1%)** | **Investment Companies (100.1%)** |
| **U.S. Bond Fund (70.1%)** | **U.S. Bond Fund (70.1%)** | **U.S. Bond Fund (70.1%)** | **U.S. Bond Fund (70.1%)** |
|  | &nbsp;&nbsp;&nbsp;Vanguard Variable Insurance Funds—Total Bond Market Index Portfolio | &nbsp;&nbsp;26213642 | &nbsp;&nbsp;&nbsp;&nbsp;270525 |
| **International Bond Fund (30.0%)** | **International Bond Fund (30.0%)** | **International Bond Fund (30.0%)** | **International Bond Fund (30.0%)** |
|  | &nbsp;&nbsp;&nbsp;Vanguard Total International Bond Index Fund Admiral Shares | &nbsp;&nbsp; 6100541 | &nbsp;&nbsp;&nbsp;&nbsp;115544 |
| **Total Investment Companies (Cost $459,895)** | **Total Investment Companies (Cost $459,895)** | **Total Investment Companies (Cost $459,895)** | &nbsp;&nbsp;&nbsp;&nbsp;**386069** |
| **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** |
| **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% **(Cost $—)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | **—** |
| **Total Investments (100.1%) (Cost $459,895)** | **Total Investments (100.1%) (Cost $459,895)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**386069** |
| **Other Assets and Liabilities—Net (-0.1%)** | **Other Assets and Liabilities—Net (-0.1%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(358)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**385711** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

------

Global Bond Index Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value—Affiliated Funds (Cost $459,895) | 386069 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 |
| **Total Assets** | &nbsp;&nbsp;**386211** |
| **Liabilities** |  |
| Due to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**500** |
| **Net Assets** | &nbsp;&nbsp;**385711** |
| <br> **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;451768 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;(66057) |
| **Net Assets** | &nbsp;&nbsp;**385711** |
| **Net Assets** |  |
| **Applicable to 21,632,895 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**385711** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;**$17.83** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Global Bond Index Portfolio

Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Income Distributions Received from Affiliated Funds | &nbsp;&nbsp;&nbsp;&nbsp;7788 |
| **Net Investment Income—Note B** | &nbsp;&nbsp;&nbsp;&nbsp;**7788** |
| **Realized Net Gain (Loss)** |  |
| Capital Gain Distributions Received from Affiliated Funds | &nbsp;&nbsp;&nbsp;2155 |
| Affiliated Funds Sold | &nbsp;&nbsp;(1685) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**470** |
| **Change in Unrealized Appreciation (Depreciation) from Affiliated Funds** | **(68907)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(60649)** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Global Bond Index Portfolio

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7788 | &nbsp;&nbsp;&nbsp;&nbsp;10505 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5219 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;(68907) | &nbsp;&nbsp;&nbsp;&nbsp;(24136) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;(60649) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8412) |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;(15847) | &nbsp;&nbsp;&nbsp;&nbsp;(13731) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;62635 | &nbsp;&nbsp;&nbsp;&nbsp;95558 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;15847 | &nbsp;&nbsp;&nbsp;&nbsp;13731 |
| Redeemed | &nbsp;&nbsp;(81730) | &nbsp;&nbsp;&nbsp;&nbsp;(59338) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;(3248) | &nbsp;&nbsp;&nbsp;&nbsp;49951 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(79744) | &nbsp;&nbsp;&nbsp;&nbsp;27808 |
| **Net Assets** |  |  |
| **Beginning of Period** | **465455** | &nbsp;&nbsp;&nbsp;**437647** |
| **End of Period** | &nbsp;&nbsp;**385711** | &nbsp;&nbsp;&nbsp;**465455** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Global Bond Index Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$21.30** | &nbsp;&nbsp;&nbsp;**$22.40** | &nbsp;&nbsp;&nbsp;**$21.41** | &nbsp;&nbsp;&nbsp;**$20.07** | &nbsp;&nbsp;&nbsp;**$19.97** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.462 |
| Capital Gain Distributions Received<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.011 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.020 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.193) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.083) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.327) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.743) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.420) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.155 |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.531) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.390) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.338) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.051) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.196) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.290) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.082) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.025) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.004) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.727) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.420) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.331) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.055) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$17.83** | &nbsp;&nbsp;&nbsp;**$21.30** | &nbsp;&nbsp;&nbsp;**$22.40** | &nbsp;&nbsp;&nbsp;**$21.41** | &nbsp;&nbsp;&nbsp;**$20.07** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-13.13%** | &nbsp;&nbsp;&nbsp;**-1.84%** | &nbsp;&nbsp;&nbsp;**6.67%** | &nbsp;&nbsp;&nbsp;**8.41%** | &nbsp;&nbsp;&nbsp;**0.78%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$386 | &nbsp;&nbsp;&nbsp;$465 | &nbsp;&nbsp;&nbsp;$438 | &nbsp;&nbsp;&nbsp;$232 | &nbsp;&nbsp;&nbsp;$163 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Acquired Fund Fees and Expenses | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.87% | &nbsp;&nbsp;&nbsp;2.32% | &nbsp;&nbsp;&nbsp;1.98% | &nbsp;&nbsp;&nbsp;2.73% | &nbsp;&nbsp;&nbsp;2.34% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;11% | &nbsp;&nbsp;&nbsp;7% | &nbsp;&nbsp;&nbsp;16% | &nbsp;&nbsp;&nbsp;12% | &nbsp;&nbsp;&nbsp;10% |

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1 Calculated based on average shares outstanding.

See accompanying Notes, which are an integral part of the Financial Statements.

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Global Bond Index Portfolio

Notes to Financial Statements

The Global Bond Index Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio seeks to match the return of its target index by investing in selected Vanguard funds and portfolios. The portfolio invests a substantial amount of its assets in Vanguard Variable Insurance Funds Total Bond Market Index Portfolio. The accompanying financial statements of Vanguard Variable Insurance Funds Total Bond Market Index Portfolio should be read in conjunction with the financial statements of the portfolio. Financial statements and other information about each underlying fund and portfolio are available at www.vanguard.com. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial statements.

1. Security Valuation: Investments are valued at the net asset value of each underlying Vanguard fund determined as of the close of the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date.

2. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

3. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

4. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and borne by the funds in which the portfolio invests (see Note B). Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

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Global Bond Index Portfolio

5. Other: Income and capital gain distributions received are recorded on the ex-dividend date.

Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of trustees. The FSA provides that expenses otherwise allocable to Vanguard funds-of-funds may be reduced or eliminated to the extent of savings realized by the underlying Vanguard funds by virtue of being part of a fund-of-funds. Accordingly, all expenses for services provided by Vanguard to the portfolio and all other expenses incurred by the portfolio during the period ended December 31, 2022, were borne by the underlying Vanguard funds in which the portfolio invests. The portfolio's trustees and officers are also trustees and officers, respectively, of the underlying Vanguard funds, as well as directors and employees, respectively, of Vanguard.

C. Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments was determined based on Level 1 inputs.

D. Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7299 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(74024) |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;11556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7864 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;4291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5867 |
| Total | &nbsp;&nbsp;&nbsp;15847 | &nbsp;&nbsp;&nbsp;&nbsp;13731 |

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\* Includes short-term capital gains, if any.

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Global Bond Index Portfolio

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;460093 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(74024) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(74024) |

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E. Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022 | &nbsp;&nbsp;2021 |
|  | Shares<br> (000) | &nbsp;&nbsp;Shares<br> (000) |
| Issued | &nbsp;&nbsp;3291 | &nbsp;&nbsp;&nbsp;&nbsp;4423 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652 |
| Redeemed | (4337) | &nbsp;&nbsp;(2757) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;&nbsp;(222) | &nbsp;&nbsp;&nbsp;&nbsp;2318 |

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At December 31, 2022, two shareholders (insurance company separate accounts whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) were each a record or beneficial owner of 25% or more of the portfolio's net assets, with a combined ownership of 65%. If any of these shareholders were to redeem their investment in the portfolio, the redemption might lead to the realization of taxable capital gains.

F. Transactions during the period in affiliated underlying Vanguard funds were as follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions |  |
|  | Dec. 31, 2021<br> Market Value<br> ($000) | Purchases<br> at Cost<br> ($000) | Proceeds<br> from<br> Securities<br> Sold<br> ($000) | Realized<br> Net Gain<br> (Loss)<br> ($000) | Change in<br> Unrealized<br> App. (Dep.)<br> ($000) | Income<br> ($000) | Capital Gain<br> Distributions<br> Received<br> ($000) | Dec. 31, 2022<br> Market Value<br> ($000) |
| Vanguard Market Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Vanguard Total International Bond Index Fund | 139621 | 15306 | 19909 | &nbsp;&nbsp;&nbsp;&nbsp;(773) | &nbsp;&nbsp;(18701) | 1714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;115544 |
| Vanguard Variable Insurance Funds—Total Bond Market Index Portfolio | 325903 | 29792 | 34052 | &nbsp;&nbsp;&nbsp;&nbsp;(912) | (50206) | 6073 | 2155 | 270525 |
| Total | 465612 | 45098 | 53961 | (1685) | (68907) | &nbsp;&nbsp;7788 | 2155 | 386069 |

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1 Not applicable—purchases and sales are for temporary cash investment purposes.

G. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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#### Report of Independent Registered

#### Public Accounting Firm
To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Global Bond Index Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Global Bond Index Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the transfer agent. We believe that our audits provide a reasonable basis for our opinion.

‎ /s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 16, 2023‎

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds ‎since 1975.

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Tax information (unaudited)

The portfolio hereby designates $2,211,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $4,291,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

The portfolio hereby designates 56.6%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of section 163(j) and the regulations thereunder for the fiscal year.

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"Bloomberg®," Bloomberg U.S. Aggregate Float Adjusted Index, and Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).

The Global Bond Index Portfolio is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Global Bond Index Portfolio or any member of the public regarding the advisability of investing in securities generally or in the Global Bond Index Portfolio particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Aggregate Float Adjusted Index and Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) (the Indices), which are determined, composed and calculated by BISL without regard to Vanguard or the Global Bond Index Portfolio. Bloomberg has no obligation to take the needs of Vanguard or the owners of the Global Bond Index Portfolio into consideration in determining, composing or calculating the Indices. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Global Bond Index Portfolio to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Global Bond Index Portfolio customers, in connection with the administration, marketing or trading of the Global Bond Index Portfolio.

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE GLOBAL BOND INDEX PORTFOLIO OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDICES OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE GLOBAL BOND INDEX PORTFOLIO OR THE INDICES OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.© 2023 Bloomberg.

Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of

IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services

(2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

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| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. McIsaac** | **Lauren Valente** |

---

------

![](tm231735d7glblbndindxi005.jpg)

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All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

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You can review information about your portfolio on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690GBI 022023

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![](tm231735d7undertotbondmri001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Total Bond Market Index Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Total Bond Market Index Portfolio returned –13.21%, in line
with the –13.07% return of its benchmark, the Bloomberg U.S. Aggregate Float Adjusted Index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which weighed on bond prices and increased fears of recession.

• Bond yields rose across the maturity spectrum, with the steepest climb at the shorter end. In general, longer maturities and lower credit-quality issues did worse for the full year, though the trend was
reversing in the final months as markets anticipated that the Federal Reserve would moderate future rate hikes.

• Over the past decade, the portfolio recorded an average annual return of 0.92%, in line with its benchmark index.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take insurance-related
expenses into account.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Total Bond Market Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$969.90 | &nbsp;&nbsp;&nbsp;&nbsp;$0.70 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.14%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Total Bond Market Index Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7undertotbondmri002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7undertotbondmri003.jpg) | &nbsp;&nbsp;&nbsp;Total Bond Market Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-13.21% | &nbsp;&nbsp;&nbsp;&nbsp;-0.10% | &nbsp;&nbsp;&nbsp;&nbsp;0.92% | &nbsp;&nbsp;&nbsp;&nbsp;$10963 |
| ![](tm231735d7undertotbondmri004.jpg) | &nbsp;&nbsp;&nbsp;Bloomberg U.S. Aggregate Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11130 |

---

See Financial Highlights for dividend and capital gains information.

------

Total Bond Market Index Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Asset-Backed/Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;2.6% |
| Corporate Bonds | 27.2 |
| Sovereign Bonds | &nbsp;&nbsp;&nbsp;3.4 |
| Taxable Municipal Bonds | &nbsp;&nbsp;&nbsp;0.7 |
| U.S. Government and Agency Obligations | 66.1 |

---

The table reflects the portfolio's investments, except for short-term investments. The agency and mortgage-backed securities may include issues from government-sponsored enterprises; such issues are generally not backed by the full faith and credit of the U.S. government.

The portfolio may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking its target index as closely as possible.

------

Total Bond Market Index Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| **U.S. Government and Agency Obligations (65.7%)** | **U.S. Government and Agency Obligations (65.7%)** | **U.S. Government and Agency Obligations (65.7%)** | **U.S. Government and Agency Obligations (65.7%)** | **U.S. Government and Agency Obligations (65.7%)** |
| **U.S. Government Securities (44.2%)** | **U.S. Government Securities (44.2%)** | **U.S. Government Securities (44.2%)** | **U.S. Government Securities (44.2%)** | **U.S. Government Securities (44.2%)** |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.875% | 1/31/24 | 11085 | &nbsp;&nbsp;&nbsp; 10633 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 1/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;3215 | &nbsp;&nbsp;&nbsp; 3130 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 1/31/24 | &nbsp;&nbsp; 7419 | &nbsp;&nbsp;&nbsp; 7243 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.125% | 2/15/24 | &nbsp;&nbsp; 7010 | &nbsp;&nbsp; 6660 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 2/15/24 | 10710 | &nbsp;&nbsp;&nbsp; 10476 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 2/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;4487 | &nbsp;&nbsp; 4325 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 2/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;8725 | &nbsp;&nbsp; 8470 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 2/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;6712 | &nbsp;&nbsp; 6537 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 3/15/24 | 13259 | &nbsp;&nbsp;&nbsp; 12571 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 3/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;3802 | &nbsp;&nbsp; 3683 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 3/31/24 | 14577 | &nbsp;&nbsp;&nbsp; 14142 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 4/15/24 | &nbsp;&nbsp; 7645 | &nbsp;&nbsp;&nbsp; 7234 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 4/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;1260 | &nbsp;&nbsp;&nbsp; 1216 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 4/30/24 | &nbsp;&nbsp; 7559 | &nbsp;&nbsp;&nbsp; 7319 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 4/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;4350 | &nbsp;&nbsp; 4226 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 5/15/24 | &nbsp;&nbsp; 7700 | &nbsp;&nbsp;&nbsp; 7248 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 5/15/24 | 12130 | &nbsp;&nbsp;&nbsp; 11772 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 5/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;5454 | &nbsp;&nbsp; 5254 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 5/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp; 3608 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 6/15/24 | 11780 | &nbsp;&nbsp;&nbsp; 11057 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;8060 | &nbsp;&nbsp;&nbsp; 7725 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;4955 | &nbsp;&nbsp;&nbsp; 4763 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;6035 | &nbsp;&nbsp; 5889 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;9735 | &nbsp;&nbsp;&nbsp; 9117 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 7/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;9127 | &nbsp;&nbsp; 8729 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 7/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;4736 | &nbsp;&nbsp; 4555 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 7/31/24 | &nbsp;&nbsp; 12010 | &nbsp;&nbsp;&nbsp; 11712 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 8/15/24 | 12985 | &nbsp;&nbsp;&nbsp; 12131 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 8/15/24 | 11564 | &nbsp;&nbsp;&nbsp; 11158 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 8/31/24 | &nbsp;&nbsp; 7475 | &nbsp;&nbsp;&nbsp; 7077 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 8/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;4655 | &nbsp;&nbsp; 4451 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;9330 | &nbsp;&nbsp; 8693 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 9/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;5785 | &nbsp;&nbsp; 5492 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 9/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;3394 | &nbsp;&nbsp; 3256 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 9/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp; 980 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;8830 | &nbsp;&nbsp; 8244 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 10/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;9070 | &nbsp;&nbsp; 8591 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 10/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;5980 | &nbsp;&nbsp;&nbsp; 5742 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;9540 | &nbsp;&nbsp; 8905 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 11/15/24 | 12681 | &nbsp;&nbsp;&nbsp; 12178 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 7.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 11/30/24 | &nbsp;&nbsp; 7847 | &nbsp;&nbsp;&nbsp; 7424 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 11/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;9554 | &nbsp;&nbsp;&nbsp; 9144 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 11/30/24 | &nbsp;&nbsp; 7381 | &nbsp;&nbsp;&nbsp; 7382 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.000% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 12/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;9765 | &nbsp;&nbsp; 9268 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 12/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;5095 | &nbsp;&nbsp; 4881 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 12/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 349 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 1/15/25 | 10365 | &nbsp;&nbsp; 9696 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 1/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;4405 | &nbsp;&nbsp;&nbsp; 4137 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 1/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;5590 | &nbsp;&nbsp;&nbsp; 5374 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;6240 | &nbsp;&nbsp; 5871 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;8624 | &nbsp;&nbsp; 8205 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 2/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;5386 | &nbsp;&nbsp; 5027 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 2/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;2513 | &nbsp;&nbsp; 2427 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 3/15/25 | &nbsp;&nbsp; 7025 | &nbsp;&nbsp; 6635 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 3/31/25 | &nbsp;&nbsp; 13674 | &nbsp;&nbsp;&nbsp; 12554 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 3/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;1961 | &nbsp;&nbsp; 1888 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 4/15/25 | 10291 | &nbsp;&nbsp; 9900 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;5094 | &nbsp;&nbsp; 4649 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;4060 | &nbsp;&nbsp; 3928 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 5/15/25 | 12735 | &nbsp;&nbsp;&nbsp; 12098 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;5755 | &nbsp;&nbsp; 5546 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 5/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;9593 | &nbsp;&nbsp; 8703 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;6350 | &nbsp;&nbsp;&nbsp; 6138 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 6/15/25 | 11785 | &nbsp;&nbsp;&nbsp; 11385 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;9064 | &nbsp;&nbsp; 8209 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;4880 | &nbsp;&nbsp; 4699 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 7/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;8797 | &nbsp;&nbsp;&nbsp; 7937 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 7/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;5105 | &nbsp;&nbsp; 4931 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 8/15/25 | 25480 | &nbsp;&nbsp; 24051 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2294 | &nbsp;&nbsp; 2227 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.875% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2085 | &nbsp;&nbsp; 2209 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 8/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;6080 | &nbsp;&nbsp; 5465 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;4085 | &nbsp;&nbsp; 3925 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.500% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp; 4409 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;5675 | &nbsp;&nbsp; 5094 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;8390 | &nbsp;&nbsp; 8383 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 10/31/25 | &nbsp;&nbsp; 7765 | &nbsp;&nbsp; 6942 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 10/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;4015 | &nbsp;&nbsp; 3878 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 11/15/25 | 10421 | &nbsp;&nbsp; 9861 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 11/15/25 | 15135 | &nbsp;&nbsp;&nbsp; 15230 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 11/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;9330 | &nbsp;&nbsp; 8345 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 11/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;6285 | &nbsp;&nbsp; 6046 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;5375 | &nbsp;&nbsp; 5341 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;9293 | &nbsp;&nbsp; 8300 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp; 3982 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 1/31/26 | 12245 | &nbsp;&nbsp;&nbsp; 10890 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 1/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp; 4491 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 2/15/26 | 10836 | &nbsp;&nbsp;&nbsp; 10018 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 2/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;4701 | &nbsp;&nbsp;&nbsp; 4188 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 3/31/26 | &nbsp;&nbsp; 11152 | &nbsp;&nbsp; 9995 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 3/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;6250 | &nbsp;&nbsp; 5889 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 4/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;2731 | &nbsp;&nbsp; 2441 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 4/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;4780 | &nbsp;&nbsp;&nbsp; 4514 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 5/15/26 | 10789 | &nbsp;&nbsp; 9931 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 5/31/26 | 11025 | &nbsp;&nbsp; 9831 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 5/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;4595 | &nbsp;&nbsp; 4297 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.875% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;3977 | &nbsp;&nbsp; 3554 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;3535 | &nbsp;&nbsp; 3279 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 7/31/26 | 14300 | &nbsp;&nbsp;&nbsp; 12631 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 7/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;6966 | &nbsp;&nbsp; 6440 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 8/15/26 | 10068 | &nbsp;&nbsp;&nbsp; 9177 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.750% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 683 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 8/31/26 | 12214 | &nbsp;&nbsp;&nbsp; 10811 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 8/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp; 2809 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.875% | 9/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;2340 | &nbsp;&nbsp; 2078 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 9/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;5215 | &nbsp;&nbsp; 4771 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 10/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;9930 | &nbsp;&nbsp; 8880 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 10/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;6275 | &nbsp;&nbsp; 5726 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 11/15/26 | 11221 | &nbsp;&nbsp;&nbsp; 10371 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.500% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp; 827 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 11/30/26 | 10220 | &nbsp;&nbsp;&nbsp; 9166 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 11/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;5070 | &nbsp;&nbsp; 4622 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 12/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;9191 | &nbsp;&nbsp; 8227 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 12/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;4983 | &nbsp;&nbsp; 4560 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 1/31/27 | &nbsp;&nbsp; 7454 | &nbsp;&nbsp; 6727 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;6372 | &nbsp;&nbsp; 5926 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.625% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 71 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 2/28/27 | &nbsp;&nbsp; 7683 | &nbsp;&nbsp; 6829 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;8238 | &nbsp;&nbsp;&nbsp; 7543 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 3/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;5063 | &nbsp;&nbsp; 4393 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 3/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;3855 | &nbsp;&nbsp;&nbsp; 3617 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 4/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;4290 | &nbsp;&nbsp; 3693 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 4/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;5620 | &nbsp;&nbsp; 5324 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 5/15/27 | 10931 | &nbsp;&nbsp;&nbsp; 10187 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 5/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;6605 | &nbsp;&nbsp; 5663 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 5/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;8160 | &nbsp;&nbsp;&nbsp; 7691 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 6/30/27 | &nbsp;&nbsp; 7990 | &nbsp;&nbsp; 6833 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.250% | 6/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;9864 | &nbsp;&nbsp; 9534 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 7/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;8560 | &nbsp;&nbsp;&nbsp; 7261 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 7/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;5284 | &nbsp;&nbsp; 4998 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;8422 | &nbsp;&nbsp;&nbsp; 7789 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.375% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 8/31/27 | &nbsp;&nbsp; 7825 | &nbsp;&nbsp; 6660 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/31/27 | &nbsp;&nbsp; 7888 | &nbsp;&nbsp;&nbsp; 7587 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 9/30/27 | &nbsp;&nbsp; 7875 | &nbsp;&nbsp; 6636 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;2865 | &nbsp;&nbsp; 2875 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 10/31/27 | &nbsp;&nbsp; 11115 | &nbsp;&nbsp; 9397 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 10/31/27 | &nbsp;&nbsp; 4011 | &nbsp;&nbsp; 4025 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;8402 | &nbsp;&nbsp;&nbsp;&nbsp; 7740 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.125% | 11/15/27 | 10839 | &nbsp;&nbsp;&nbsp; 11803 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 11/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;8128 | &nbsp;&nbsp; 6902 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 11/30/27 | 14660 | &nbsp;&nbsp;&nbsp; 14578 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 12/31/27 | 11975 | &nbsp;&nbsp;&nbsp; 10143 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 12/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 994 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 1/31/28 | 12285 | &nbsp;&nbsp;&nbsp; 10446 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;8180 | &nbsp;&nbsp;&nbsp; 7687 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 2/29/28 | 10060 | &nbsp;&nbsp; 8707 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 3/31/28 | &nbsp;&nbsp; 11761 | &nbsp;&nbsp;&nbsp; 10221 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 4/30/28 | 10814 | &nbsp;&nbsp; 9381 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/28 | 12080 | &nbsp;&nbsp;&nbsp; 11396 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 5/31/28 | 10615 | &nbsp;&nbsp;&nbsp; 9189 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 6/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;9941 | &nbsp;&nbsp; 8591 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.000% | 7/31/28 | 11480 | &nbsp;&nbsp; 9754 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 8/15/28 | 11632 | &nbsp;&nbsp;&nbsp; 10950 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 5.500% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 8/31/28 | &nbsp;&nbsp; 10610 | &nbsp;&nbsp; 9063 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 9/30/28 | &nbsp;&nbsp; 11767 | &nbsp;&nbsp;&nbsp; 10105 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 10/31/28 | 10725 | &nbsp;&nbsp; 9257 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 11/15/28 | 11328 | &nbsp;&nbsp;&nbsp; 10799 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 5.250% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;1655 | &nbsp;&nbsp; 1751 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 11/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;9995 | &nbsp;&nbsp; 8677 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 12/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;3490 | &nbsp;&nbsp; 3009 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 1/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;8040 | &nbsp;&nbsp;&nbsp; 7061 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 2/15/29 | 10133 | &nbsp;&nbsp; 9368 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/28/29 | &nbsp;&nbsp;&nbsp;&nbsp;8640 | &nbsp;&nbsp;&nbsp; 7653 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 3/31/29 | 16780 | &nbsp;&nbsp;&nbsp; 15267 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 4/30/29 | &nbsp;&nbsp; 7750 | &nbsp;&nbsp;&nbsp; 7256 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;9195 | &nbsp;&nbsp; 8358 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 5/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;6730 | &nbsp;&nbsp; 6248 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.250% | 6/30/29 | &nbsp;&nbsp; 7145 | &nbsp;&nbsp; 6834 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 7/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;8050 | &nbsp;&nbsp;&nbsp; 7412 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;4730 | &nbsp;&nbsp;&nbsp; 4102 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/31/29 | &nbsp;&nbsp; 2010 | &nbsp;&nbsp; 1908 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 9/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;4525 | &nbsp;&nbsp; 4490 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 10/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;5925 | &nbsp;&nbsp; 5926 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791 | &nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 11/30/29 | 12793 | &nbsp;&nbsp;&nbsp; 12703 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 12/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;1770 | &nbsp;&nbsp;&nbsp; 1761 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 2/15/30 | &nbsp;&nbsp; 7154 | &nbsp;&nbsp; 6092 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 5/15/30 | 14554 | &nbsp;&nbsp;&nbsp; 11511 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp; 1538 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 8/15/30 | 18852 | &nbsp;&nbsp;&nbsp; 14831 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.875% | 11/15/30 | &nbsp;&nbsp; 17961 | &nbsp;&nbsp;&nbsp; 14352 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 2/15/31 | 14940 | &nbsp;&nbsp;&nbsp; 12169 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 5.375% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;1540 | &nbsp;&nbsp; 1687 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 5/15/31 | 19034 | &nbsp;&nbsp;&nbsp; 16009 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 8/15/31 | 18757 | &nbsp;&nbsp;&nbsp; 15220 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 11/15/31 | 22353 | &nbsp;&nbsp;&nbsp; 18186 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/15/32 | 22053 | &nbsp;&nbsp;&nbsp; 18690 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/32 | 18654 | &nbsp;&nbsp;&nbsp; 17185 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/15/32 | &nbsp;&nbsp; 17860 | &nbsp;&nbsp;&nbsp; 16244 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 11/15/32 | 19632 | &nbsp;&nbsp; 20025 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp; 1279 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 5.000% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp; 1138 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559 | &nbsp;&nbsp; 594 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.500% | 2/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;1320 | &nbsp;&nbsp; 1240 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;2247 | &nbsp;&nbsp;&nbsp; 2313 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 8/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;2216 | &nbsp;&nbsp; 2347 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;1742 | &nbsp;&nbsp;&nbsp; 1816 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.625% | 2/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 1396 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 5/15/40 | &nbsp;&nbsp; 7810 | &nbsp;&nbsp; 4892 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;1875 | &nbsp;&nbsp; 1950 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;8405 | &nbsp;&nbsp; 5228 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;2515 | &nbsp;&nbsp; 2453 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 11/15/40 | 10129 | &nbsp;&nbsp; 6587 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;2195 | &nbsp;&nbsp; 2244 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/15/41 | 12303 | &nbsp;&nbsp; 8697 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.750% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;2556 | &nbsp;&nbsp; 2780 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 5/15/41 | 10495 | &nbsp;&nbsp;&nbsp; 7890 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 5/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;1904 | &nbsp;&nbsp;&nbsp; 1974 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 8/15/41 | &nbsp;&nbsp; 13741 | &nbsp;&nbsp;&nbsp; 9410 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.750% | 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;2140 | &nbsp;&nbsp; 2032 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 11/15/41 | &nbsp;&nbsp; 11218 | &nbsp;&nbsp;&nbsp; 8019 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;2701 | &nbsp;&nbsp; 2332 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;9361 | &nbsp;&nbsp;&nbsp; 7145 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;2081 | &nbsp;&nbsp; 1793 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;1720 | &nbsp;&nbsp; 1446 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.250% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;9030 | &nbsp;&nbsp;&nbsp; 7920 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;2895 | &nbsp;&nbsp; 2329 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.375% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;2057 | &nbsp;&nbsp; 1839 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;4646 | &nbsp;&nbsp; 3728 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;4207 | &nbsp;&nbsp;&nbsp; 4123 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;3880 | &nbsp;&nbsp; 3308 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 653 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.625% | 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;5305 | &nbsp;&nbsp; 4878 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.750% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 656 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.625% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;5452 | &nbsp;&nbsp; 5004 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.375% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;5869 | &nbsp;&nbsp;&nbsp; 5171 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/15/44 | &nbsp;&nbsp; 7731 | &nbsp;&nbsp; 6526 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 11/15/44 | &nbsp;&nbsp; 7512 | &nbsp;&nbsp;&nbsp; 6201 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 2/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;8120 | &nbsp;&nbsp;&nbsp; 6117 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;6002 | &nbsp;&nbsp; 4943 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;3991 | &nbsp;&nbsp;&nbsp; 3214 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;1914 | &nbsp;&nbsp;&nbsp; 1574 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 2/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;3915 | &nbsp;&nbsp; 2928 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;6456 | &nbsp;&nbsp; 4820 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 8/15/46 | &nbsp;&nbsp; 6110 | &nbsp;&nbsp; 4329 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;2765 | &nbsp;&nbsp;&nbsp; 2216 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;4490 | &nbsp;&nbsp;&nbsp; 3676 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;4615 | &nbsp;&nbsp; 3778 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;6988 | &nbsp;&nbsp; 5460 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;5833 | &nbsp;&nbsp; 4557 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;8479 | &nbsp;&nbsp; 6954 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 5/15/48 | &nbsp;&nbsp; 7684 | &nbsp;&nbsp; 6465 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 8/15/48 | &nbsp;&nbsp; 7810 | &nbsp;&nbsp;&nbsp; 6414 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.375% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;4590 | &nbsp;&nbsp; 4052 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 2/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;8344 | &nbsp;&nbsp; 6879 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp; 3945 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;5029 | &nbsp;&nbsp; 3541 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;5907 | &nbsp;&nbsp; 4282 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;8212 | &nbsp;&nbsp; 5434 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 5/15/50 | 11066 | &nbsp;&nbsp; 5967 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 8/15/50 | 11786 | &nbsp;&nbsp; 6563 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 11/15/50 | 12196 | &nbsp;&nbsp;&nbsp; 7276 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/15/51 | 13054 | &nbsp;&nbsp;&nbsp; 8310 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 5/15/51 | 13225 | &nbsp;&nbsp; 9506 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 8/15/51 | 12950 | &nbsp;&nbsp; 8492 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 11/15/51 | 11835 | &nbsp;&nbsp;&nbsp; 7517 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 2/15/52 | 11907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8307 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/52 | 10830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8698 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 8/15/52 | 13503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11178 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 11/15/52 | 10155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10199 |
|  |  |  |  |  | **1756575** |
| **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 0.900% | 1/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 0.250% | 2/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 2.625% | 5/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 782 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 2.625% | 6/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 3.250% | 6/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 3.100% | 6/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 3.375% | 8/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 979 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 4.250% | 9/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 819 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 0.875% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 4.500% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 803 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 1.750% | 2/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 492 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 4.250% | 9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 2.500% | 2/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 2.125% | 2/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 437 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 3.125% | 6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1466 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 4.875% | 6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 2.750% | 6/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 487 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 1.500% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 4.500% | 10/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 0.500% | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 916 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 0.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 1.250% | 12/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 893 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 3.250% | 11/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 5.500% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1534 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 1.500% | 2/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1129 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 0.375% | 7/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1357 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 0.375% | 9/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1798 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 6.750% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 6.750% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;1525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1780 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 6.250% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;1102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1274 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;1028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 984 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 1.625% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 920 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 1.625% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1228 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.625% | 4/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 917 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.500% | 6/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.375% | 8/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1804 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.500% | 11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1797 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 2.125% | 4/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 1.875% | 9/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.750% | 10/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 858 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 6.250% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 7.125% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1085 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 7.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1098 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 6.625% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 832 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 5.625% | 7/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 3.550% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 2.450% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 1.750% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 3.250% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 1.400% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 2.875% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 0.750% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 6.750% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 7.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1167 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 1.500% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 4.650% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 5.880% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 5.500% | 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 5.250% | 9/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 4.875% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 4.625% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 4.250% | 9/15/65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
|  |  |  |  |  | **42279** |
| **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 2.000% | 6/1/51–<br> 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 3.000% | 3/1/52–<br> 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1502 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 4.500% | 7/1/52–<br> 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1602 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 5.000% | 7/1/52–<br> 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1654 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 4.000% | 8/1/52–<br> 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2491 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 7.000% | 4/1/23–<br> 2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 7.500% | 4/1/23–<br> 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 4.500% | 5/1/23–<br> 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;5283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5217 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 5.000% | 9/1/23–<br> 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;1602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1621 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 5.500% | 1/1/24–<br> 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;1253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1270 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 4.000% | 6/1/24–<br> 11/1/48 | 10378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10000 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 8.500% | 7/1/24–<br> 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 8.000% | 11/1/24–<br> 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 3.500% | 9/1/25–<br> 11/1/48 | 19424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18132 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 3.000% | 10/1/26–<br> 8/1/47 | &nbsp;&nbsp; 17822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16238 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 2.500% | 4/1/27–<br> 2/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;5215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4864 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 9.000% | 5/1/27–<br> 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 6.000% | 7/1/28–<br> 3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 933 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 2.000% | 8/1/28–<br> 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 2.000% | 5/1/37–<br> 4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 2.500% | 1/1/52–<br> 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1830 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 4.000% | 7/1/52–<br> 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;3258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3064 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 4.500% | 7/1/52–<br> 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;3342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3226 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 590 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 4.000% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 576 |

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------

Total Bond Market Index Portfolio

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 4.500% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 5.000% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;1351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1339 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 5.500% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1358 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 6.000% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 8.000% | 3/15/23–<br> 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 7.000% | 8/15/23–<br> 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 6.500% | 11/15/23–<br> 12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 7.500% | 12/15/23–<br> 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 4.000% | 10/15/24–<br> 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;1132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1097 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 4.500% | 10/15/24–<br> 3/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1220 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 3.500% | 11/15/25–<br> 9/15/49 | &nbsp;&nbsp; 1116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1053 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 3.000% | 1/15/26–<br> 12/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;1256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 6.000% | 6/15/32–<br> 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 5.000% | 5/15/34–<br> 4/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 863 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 3.500% | 9/20/25–<br> 7/20/52 | 28649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26769 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 4.000% | 9/20/25–<br> 11/20/52 | 18701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18025 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 3.000% | 2/20/27–<br> 6/20/52 | 38140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34293 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 2.500% | 6/20/27–<br> 5/20/52 | &nbsp;&nbsp; 37946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33099 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 5.000% | 12/20/32–<br> 11/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;6495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6495 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 6.500% | 12/20/35–<br> 11/20/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 7.000% | 8/20/36–<br> 4/20/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 4.500% | 2/20/39–<br> 12/20/52 | 13497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13276 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 2.000% | 8/20/50–<br> 1/20/52 | 38236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 1.500% | 12/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 846 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 5.500% | 10/20/52–<br> 12/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;1749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1760 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 7.000% | 6/1/23–<br> 11/1/37 | &nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 7.500% | 6/1/23–<br> 2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 5.000% | 7/1/23–<br> 1/12/53 | &nbsp;&nbsp; 17812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17724 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 8.000% | 7/1/23–<br> 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 4.500% | 9/1/23–<br> 1/12/53 | 25910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25336 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 2.000% | 11/1/23–<br> 4/1/52 | 204531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170595 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 5.500% | 12/1/23–<br> 1/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;9289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9395 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 4.000% | 2/1/24–<br> 10/1/52 | 38216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36577 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 6.000% | 3/1/24–<br> 1/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;2683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2770 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 8.500% | 10/1/24–<br> 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 3.500% | 9/1/25–<br> 10/1/52 | 52298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48598 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 3.000% | 11/1/25–<br> 6/1/52 | &nbsp;&nbsp; 87725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78792 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 2.500% | 1/1/27–<br> 6/1/52 | 143785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124154 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 1.500% | 7/1/35–<br> 9/1/51 | 50968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41194 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 6.500% | 1/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 794 |
|  |  |  |  |  | **808665** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.290% | 1.779% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.310% | 2.762% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp; 21 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.388% | 2.972% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.433% | 3.140% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.474% | 2.129% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 28 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.555% | 3.806% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.560% | 2.308% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp; 42 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.597% | 3.849% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.601% | 3.417% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.606% | 3.028% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.623% | 1.998% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.627% | 2.127% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.635% | 1.885% | 11/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.640% | 1.890% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.660% | 1.910% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.670% | 2.045% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.671% | 3.377% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.680% | 2.844% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.685% | 1.935% | 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.690% | 2.259% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.690% | 3.225% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.690% | 3.940% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp; 21 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.695% | 3.945% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.698% | 3.948% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.700% | 4.075% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.700% | 1.950% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.701% | 2.242% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.705% | 1.955% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.716% | 2.527% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.733% | 3.045% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.735% | 3.479% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.747% | 3.852% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.750% | 3.910% | 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.751% | 2.982% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.764% | 2.093% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.771% | 2.432% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.780% | 2.280% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.781% | 3.284% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.794% | 2.464% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.795% | 2.446% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.796% | 3.359% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.805% | 3.618% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.805% | 2.055% | 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.810% | 2.060% | 11/1/33–<br> 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.813% | 2.556% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.813% | 2.063% | 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.813% | 2.075% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.815% | 2.065% | 11/1/40–<br> 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.815% | 2.231% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.815% | 3.447% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.815% | 2.107% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.825% | 2.575% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.830% | 2.308% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 13 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.830% | 4.080% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.834% | 2.153% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.835% | 2.107% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.835% | 3.210% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.839% | 2.089% | 12/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.840% | 4.090% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.880% | 2.938% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.909% | 3.289% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 1YR CMT + 2.155% | 2.280% | 12/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 1YR CMT + 2.313% | 2.438% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 6M USD LIBOR + 1.058% | 1.592% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 6M USD LIBOR + 1.840% | 3.090% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.532% | 3.551% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.625% | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.640% | 1.890% | 12/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.640% | 3.305% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.660% | 1.910% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.665% | 1.915% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.695% | 2.074% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.727% | 1.996% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.743% | 1.993% | 12/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.745% | 1.995% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.750% | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.830% | 2.050% | 12/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.846% | 2.141% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 3.357% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 3.612% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 4.130% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 2.130% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 2.216% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 2.380% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 3.864% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.887% | 2.658% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.894% | 3.536% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.900% | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.900% | 2.150% | 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910% | 2.201% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910% | 2.390% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910% | 2.410% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 2.005% | 2.989% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 2.085% | 2.585% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 1YR CMT + 2.250% | 2.375% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 1YR CMT + 2.250% | 2.489% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 1YR CMT + 2.250% | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 1YR CMT + 2.411% | 2.567% | 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 6M USD LIBOR + 1.355% | 2.020% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 1.500% | 1.625% | 7/20/38–<br> 8/20/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 1.500% | 1.750% | 10/20/38–<br> 12/20/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 1.500% | 2.625% | 1/20/41–<br> 3/20/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 1.500% | 2.875% | 4/20/41–<br> 6/20/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 2.000% | 2.250% | 11/20/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 2.000% | 3.375% | 5/20/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 2.000% | 4.000% | 5/20/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
|  |  |  |  |  | **883** |
| **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2608402** |
| **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Allya Class A3 Series 2022 -2 | 4.760% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A3 Series 2022-1 | 3.310% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A4 Series 2019-2 | 2.260% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A4 Series 2019-4 | 1.920% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A4 Series 2022-2 | 4.870% | 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Express Credit Account Class A Series 2022-2 | 3.390% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 728 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Express Credit Account Master Trust Class A Series 2021-1 | 0.900% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 395 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Express Credit Account Master Trust Class A Series 2022-3 | 3.750% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 415 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class A3 Series 2021-2 | 0.340% | 12/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class B Series 2020-3 | 0.760% | 12/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class B Series 2021-1 | 0.680% | 10/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class C Series 2021-1 | 0.890% | 10/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BA Credit Card Trust Class A1 Series 2020-A1 | 0.340% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BA Credit Card Trust Class A1 Series 2021-A1 | 0.440% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BA Credit Card Trust Class A1 Series 2022-A1 | 3.530% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Banc of America Commercial Mortgage Trust Class A4 Series 2015-UBS7 | 3.705% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Banc of America Commercial Mortgage Trust Class A4 Series 2017-BNK3 | 3.574% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Banc of America Commercial Mortgage Trust Class ASB Series 2015-UBS7 | 3.429% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A2 Series 2018-BNK14 | 4.128% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2017-BNK9 | 3.279% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp; 65 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2018-BNK11 | 4.046% | 3/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2019-BNK19 | 3.183% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2019-BNK20 | 3.011% | 9/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 148 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2019-BNK23 | 2.920% | 12/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 156 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2019-BNK24 | 2.960% | 11/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK6 | 3.254% | 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK7 | 3.175% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK8 | 3.488% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK9 | 3.538% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2018-BNK12 | 4.255% | 5/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2018-BNK13 | 3.953% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2018-BNK14 | 4.231% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2018-BNK15 | 4.407% | 11/15/61 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 105 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2019-BNK16 | 4.005% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2019-BNK17 | 3.714% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2019-BNK18 | 3.584% | 5/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2019-BNK22 | 2.978% | 11/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 252 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2020-BNK26 | 2.403% | 3/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 146 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2020-BNK28 | 1.844% | 3/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2020-BNK29 | 1.997% | 11/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2020-BNK30 | 1.925% | 12/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2021-BNK31 | 2.036% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2017-BNK5 | 3.390% | 6/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2017-BNK6 | 3.518% | 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp; 375 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2017-BNK7 | 3.435% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2018-BNK10 | 3.688% | 2/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2018-BNK13 | 4.217% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2019-BNK21 | 2.851% | 10/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2020-BNK25 | 2.649% | 1/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2020-BNK27 | 2.144% | 4/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 122 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BN32 | 2.643% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK33 | 2.556% | 5/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK34 | 2.438% | 6/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK35 | 2.285% | 6/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK36 | 2.470% | 9/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 102 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK37 | 2.618% | 11/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2022-BNK43 | 4.399% | 8/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 165 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2017-BNK5 | 3.624% | 6/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2017-BNK6 | 3.741% | 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp; 363 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2017-BNK7 | 3.748% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2017-BNK8 | 3.731% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2018-BNK10 | 3.898% | 2/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2018-BNK12 | 4.485% | 5/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2018-BNK14 | 4.481% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK17 | 3.976% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK18 | 3.826% | 5/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK21 | 3.093% | 10/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK23 | 3.203% | 12/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK24 | 3.283% | 11/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2020-BNK25 | 2.841% | 1/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 53 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2020-BNK26 | 2.687% | 3/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2020-BNK27 | 2.551% | 4/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2021-BNK31 | 2.211% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2021-BNK36 | 2.695% | 9/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class ASB Series 2018-BNK10 | 3.641% | 2/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class C Series 2017-BNK8 | 4.200% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class C Series 2019-BNK19 | 4.165% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Bank of America Commercial Mortgage Trust Class AS Series 2017-BNK3 | 3.748% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class A4 Series 2019-C3 | 3.583% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class A4 Series 2019-C5 | 3.063% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 132 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class A5 Series 2019-C4 | 2.919% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 240 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class A5 Series 2022-C14 | 2.946% | 2/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class AS Series 2019-C4 | 3.171% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class AS Series 2019-C5 | 3.366% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Dryrock Issuance Trus Drock Class A Series 2022-1 | 3.070% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A4 Series 2017-C1 | 3.674% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A4 Series 2020-C6 | 2.639% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2018-C2 | 4.314% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2020-C7 | 2.037% | 4/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2020-C8 | 2.040% | 10/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2021-C11 | 2.322% | 9/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2021-C12 | 2.689% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2021-C9 | 2.299% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 122 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class AS Series 2017-C1 | 3.898% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class AS Series 2020-C6 | 2.840% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 28 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Trust Class A5 Series 2021-C10 | 2.492% | 7/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 123 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A2 Series 2018-B2 | 3.662% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A2 Series 2018-B3 | 3.848% | 4/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A2 Series 2020-B17 | 2.211% | 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A3 Series 2020-IG1 | 2.687% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2018-B5 | 4.208% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2018-B6 | 4.261% | 10/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2018-B7 | 4.510% | 5/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2019-B10 | 3.717% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2019-B13 | 2.952% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 245 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B1 | 3.666% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B2 | 3.882% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 306 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B3 | 4.025% | 4/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 213 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B4 | 4.121% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 332 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B8 | 4.232% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2019-B14 | 3.049% | 12/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 198 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2019-B15 | 2.928% | 12/15/72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 200 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2019-B9 | 4.016% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 99 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B16 | 2.732% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B17 | 2.289% | 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B20 | 2.034% | 10/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B21 | 1.978% | 12/17/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 99 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B22 | 1.973% | 1/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B23 | 2.070% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 179 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B24 | 2.584% | 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B25 | 2.577% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B25 | 2.847% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B26 | 2.613% | 6/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B28 | 2.224% | 8/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B29 | 2.388% | 9/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B30 | 2.576% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2022-B32 | 3.002% | 1/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 232 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2022-B33 | 3.458% | 3/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2022-B34 | 3.786% | 4/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2022-B36 | 4.470% | 7/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AM Series 2018-B1 | 3.878% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AM Series 2018-B4 | 4.311% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AM Series 2019-B10 | 3.979% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AM Series 2020-B16 | 2.944% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2018-B2 | 4.084% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2018-B6 | 4.441% | 10/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2018-B8 | 4.532% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2019-B11 | 3.784% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2020-B17 | 2.583% | 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2020-B19 | 2.148% | 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2020-B20 | 2.375% | 10/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 8 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2020-IG1 | 2.909% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2021-B23 | 2.274% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2021-B24 | 2.780% | 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2022-B32 | 3.528% | 1/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BMO Mortgage Trust Class A5 Series 2022-C1 | 3.374% | 2/17/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMO Mortgage Trust Class A5 Series 2022-C3 | 5.313% | 9/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust Class A3 Series 2021-1 | 0.290% | 1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust Class A3 Series 2021-2 | 0.330% | 12/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust Class A4 Series 2021-1 | 0.370% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust Class A4 Series 2021-2 | 0.430% | 1/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Owner Trust Class A3 Series 2020-A | 0.480% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Owner Trust Class A3 Series 2022-A | 3.210% | 8/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending Class A4 Series 2019-CF3 | 3.006% | 1/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 115 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending Class A5 Series 2019-CF1 | 3.786% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 113 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending Class A5 Series 2019-CF2 | 2.874% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending Class AS Series 2019-CF3 | 3.298% | 1/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A Series 2022-A2 | 3.490% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 389 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A1 Series 2021-A1 | 0.550% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A1 Series 2022-A1 | 2.800% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 384 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A2 Series 2021-A2 | 1.390% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 375 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A3 Series 2019-A3 | 2.060% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 274 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A3 Series 2021-A3 | 1.040% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 373 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A3 Series 2021-1 | 0.770% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A3 Series 2022-1 | 3.170% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A3 Series 2022-2 | 3.660% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A4 Series 2019-1 | 2.560% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A4 Series 2020-1 | 1.630% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 15 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A4 Series 2022-1 | 3.320% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2020-1 | 1.890% | 12/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2020-3 | 0.620% | 3/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2020-4 | 0.500% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp; 313 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2020-4 | 0.630% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2021-1 | 0.340% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2021-2 | 0.520% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2021-4 | 0.560% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2022-1 | 1.470% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2022-2 | 3.490% | 2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2019-4 | 2.130% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2020-1 | 2.030% | 6/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2020-3 | 0.770% | 3/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2021-2 | 0.810% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2022-1 | 1.700% | 8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust Class A3 Series 2021-P3 | 0.700% | 11/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A3 Series 2019-CD8 | 2.657% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 35 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2016-CD1 | 2.724% | 8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2016-CD2 | 3.526% | 11/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2017-CD3 | 3.631% | 2/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp; 134 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2018-CD7 | 4.279% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2019-CD8 | 2.912% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 384 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A5 Series 2017-CD6 | 3.456% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AAB Series 2017-CD3 | 3.453% | 2/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AM Series 2017-CD6 | 3.709% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AS Series 2017-CD3 | 3.833% | 2/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp; 28 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class ASB Series 2017-CD6 | 3.332% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class ASB Series 2018-CD7 | 4.213% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CenterPoint Energy Transition Bond Co. IV LLC Class A3 Series 2012-1 | 3.028% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp; 160 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class A3 Series 2016-C3 | 3.865% | 1/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class A3 Series 2016-C6 | 3.217% | 11/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class A4 Series 2016-C4 | 3.283% | 5/10/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class A4 Series 2017-C8 | 3.572% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class AM Series 2016-C4 | 3.691% | 5/10/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CGMS Commercial Mortgage Trust Class A4 Series 2017-B1 | 3.458% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 229 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CGMS Commercial Mortgage Trust Class AS Series 2017-B1 | 3.711% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Chase Issuance Trust Class A Series 2022-A1 | 3.970% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citibank Credit Card Issuance Trust Class A3 Series 2007-A3 | 6.150% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 110 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citibank Credit Card Issuance Trust Class A7 Series 2018-A7 | 3.960% | 10/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A2 Series 2018-B2 | 3.788% | 3/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A3 Series 2016-P4 | 2.646% | 7/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A3 Series 2017-C4 | 3.209% | 10/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2013-GC11 | 3.093% | 4/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp; 83 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2013-GC15 | 4.371% | 9/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2014-GC19 | 4.023% | 3/11/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2014-GC23 | 3.622% | 7/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2014-GC25 | 3.635% | 10/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2015-GC29 | 3.192% | 4/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 165 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2015-GC31 | 3.762% | 6/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2015-GC33 | 3.778% | 9/10/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2016-C1 | 3.209% | 5/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2016-GC37 | 3.314% | 4/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2016-P4 | 2.902% | 7/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2017-C4 | 3.471% | 10/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 229 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2018-B2 | 4.009% | 3/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 257 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2019-GC43 | 3.038% | 11/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 237 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2014-GC21 | 3.855% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2015-GC27 | 3.137% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 214 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2016-GC36 | 3.616% | 2/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 447 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2019-GC41 | 2.869% | 8/10/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 192 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2020-GC46 | 2.717% | 2/15/53 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 93 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2022-GC48 | 4.743% | 5/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AAB Series 2014-GC19 | 3.552% | 3/11/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AAB Series 2016-C1 | 3.003% | 5/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp; 35 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2013-GC15 | 4.649% | 9/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2014-GC19 | 4.345% | 3/11/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2015-GC27 | 3.571% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2017-C4 | 3.764% | 10/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2020-GC46 | 2.918% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 36 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class B Series 2014-GC21 | 4.328% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class B Series 2015-GC29 | 3.758% | 4/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp; 77 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CNH Equipment Trust Class A3 Series 2022-A | 2.940% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2012-CR4 | 2.853% | 10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2013-CR11 | 3.983% | 8/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2013-CR12 | 3.765% | 10/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2014-CR21 | 3.528% | 12/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp; 148 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2017-COR2 | 3.510% | 9/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 32 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2018-COR3 | 4.228% | 5/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-CR15 | 4.074% | 2/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 55 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-CR20 | 3.590% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-LC15 | 4.006% | 4/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-UBS3 | 3.819% | 6/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-UBS5 | 3.838% | 9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR23 | 3.497% | 5/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR24 | 3.432% | 8/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp; 150 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR25 | 3.759% | 8/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR26 | 3.630% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 213 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR27 | 3.612% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-LC19 | 3.183% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2016-CR28 | 3.762% | 2/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2013-CR8 | 3.612% | 6/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 59 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2013-LC13 | 4.205% | 8/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp; 36 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-CR17 | 3.977% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-CR19 | 3.796% | 8/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-LC17 | 3.917% | 10/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-UBS2 | 3.961% | 3/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp; 53 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-UBS4 | 3.694% | 8/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-UBS6 | 3.644% | 12/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2015-CR22 | 3.309% | 3/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2015-DC1 | 3.350% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2015-PC1 | 3.902% | 7/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2019-GC44 | 2.950% | 8/15/57 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 98 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2013-CR11 | 4.715% | 8/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 30 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2013-CR12 | 4.300% | 10/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-CR16 | 4.278% | 4/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-CR19 | 4.080% | 8/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-UBS2 | 4.199% | 3/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 15 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-UBS4 | 3.968% | 8/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 42 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-UBS6 | 4.048% | 12/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2015-CR22 | 3.603% | 3/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2015-CR23 | 3.801% | 5/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2015-LC19 | 3.527% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2019-GC44 | 3.263% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-CCRE16 | 3.653% | 4/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-CR15 | 3.595% | 2/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-CR17 | 3.598% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-CR18 | 3.452% | 7/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-UBS2 | 3.472% | 3/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-UBS6 | 3.387% | 12/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2015-CR23 | 3.257% | 5/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2015-CR27 | 3.404% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2015-LC19 | 3.040% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 9 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2016-DC2 | 3.550% | 2/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class B Series 2013-CR12 | 4.762% | 10/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class B Series 2014-CR15 | 4.770% | 2/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class B Series 2014-CR17 | 4.377% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class B Series 2014-UBS2 | 4.701% | 3/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class C Series 2013-LC6 | 4.242% | 1/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class C Series 2014-CR15 | 4.820% | 2/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A3 Series 2019-C16 | 3.329% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 243 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A3 Series 2021-C20 | 2.805% | 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 207 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2015-C1 | 3.505% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2015-C2 | 3.504% | 6/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2015-C3 | 3.718% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2015-C4 | 3.808% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2017-C8 | 3.392% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2018-CX12 | 4.224% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2019-C15 | 4.053% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 208 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A5 Series 2016-C7 | 3.502% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A5 Series 2017-CX10 | 3.458% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A5 Series 2017-CX9 | 3.446% | 9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A5 Series 2018-CX11 | 4.033% | 4/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 256 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class AS Series 2015-C1 | 3.791% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class AS Series 2015-C2 | 3.849% | 6/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class AS Series 2021-C20 | 3.076% | 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class ASB Series 2015-C3 | 3.448% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class ASB Series 2015-C4 | 3.617% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 27 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class B Series 2015-C1 | 4.044% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class B Series 2015-C3 | 4.261% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Daimler Trucks Retail Trust Class A3 Series 2022-1 | 5.230% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBGS Mortgage Trust Class A4 Series 2018-C1 | 4.466% | 10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A4 Series 2016-C1 | 3.276% | 5/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A5 Series 2016-C3 | 2.890% | 8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A5 Series 2017-C6 | 3.328% | 6/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A5 Series 2020-C9 | 1.926% | 8/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class AM Series 2017-C6 | 3.561% | 6/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A Series 2022-A2 | 3.320% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 386 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A Series 2022-A4 | 5.030% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 227 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A1 Series 2021-A1 | 0.580% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 163 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A1 Series 2022-A1 | 1.960% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A2 Series 2021-A2 | 1.030% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A3 Series 2022-A3 | 3.560% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 388 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class B Series 2021-1 | 0.650% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class B Series 2021-2 | 0.580% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 64 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class C Series 2021-1 | 1.020% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class C Series 2021-2 | 0.870% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class D Series 2019-1 | 4.090% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class D Series 2021-2 | 1.390% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class B Series 2021-3A | 0.690% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class B Series 2022-2A | 3.650% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class C Series 2020-3A | 1.320% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 38 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class C Series 2021-1A | 0.740% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class C Series 2021-3A | 0.960% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class C Series 2022-2A | 3.850% | 7/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class D Series 2021-3A | 1.550% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 32 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class D Series 2022-1A | 3.020% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class D Series 2022-2A | 4.560% | 7/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Multifamily REMIC Trust Class A2 Series 2022-M10 | 2.003% | 1/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 179 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Multifamily REMIC Trust Class A2 Series 2022-M1G | 1.582% | 9/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Multifamily REMIC Trust Class A2 Series 2022-M8 | 2.001% | 12/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class 1A Series 2014-M7 | 3.321% | 6/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp; 164 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class 2A2 Series 2019-M21 | 2.350% | 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 26 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class 2A2 Series 2021-M13 | 1.681% | 3/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class 3A2 Series 2019-M18 | 2.577% | 9/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A Series 2015-M2 | 2.620% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2013-M14 | 3.329% | 10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M1 | 3.343% | 7/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp; 81 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M13 | 3.021% | 8/25/24 | &nbsp;&nbsp; 101 | &nbsp;&nbsp; 98 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M2 | 3.513% | 12/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp; 101 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M3 | 3.501% | 1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp; 33 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M4 | 3.346% | 3/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp; 78 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M8 | 3.056% | 6/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 68 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M9 | 3.103% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 102 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M1 | 2.532% | 9/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp; 194 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M10 | 3.092% | 4/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 66 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M12 | 2.893% | 5/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M15 | 2.923% | 10/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 133 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M3 | 2.723% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp; 66 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M7 | 2.590% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp; 126 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M8 | 2.900% | 1/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp; 84 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M11 | 2.369% | 7/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp; 222 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M12 | 2.533% | 9/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp; 224 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M13 | 2.591% | 9/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp; 54 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M3 | 2.702% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 77 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M4 | 2.576% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 80 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M42 | 1.270% | 7/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 8 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M5 | 2.469% | 4/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M7 | 2.499% | 9/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 41 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M9 | 2.292% | 6/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M1 | 2.495% | 10/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp; 145 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M12 | 3.164% | 6/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp; 195 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M14 | 2.962% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp; 69 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M2 | 2.851% | 2/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M4 | 2.640% | 12/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp; 132 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M5 | 3.202% | 4/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp; 57 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M7 | 2.961% | 2/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 211 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M8 | 3.061% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp; 430 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M10 | 3.471% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M10 | 3.610% | 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 276 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M12 | 3.766% | 8/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M13 | 3.866% | 9/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp; 154 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M14 | 3.698% | 8/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp; 159 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M4 | 3.158% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M7 | 3.141% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp; 86 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M1 | 3.665% | 9/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 171 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M12 | 2.885% | 6/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 362 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M18 | 2.469% | 8/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M2 | 3.748% | 11/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp; 176 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M5 | 3.273% | 2/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M7 | 3.143% | 4/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp; 180 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M9 | 2.937% | 6/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp; 277 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M1 | 2.444% | 10/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp; 829 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M14 | 1.784% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 206 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M22 | 2.522% | 8/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344 | &nbsp;&nbsp; 303 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M29 | 1.492% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M46 | 1.323% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M5 | 2.210% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M52 | 1.362% | 10/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 216 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M1 | 1.437% | 11/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 47 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M11 | 1.507% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 175 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M13 | 1.658% | 4/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M19 | 1.797% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M1G | 1.515% | 11/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M3G | 1.292% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 176 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2022-M1 | 1.725% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 254 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2022-M3 | 1.764% | 11/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2022-M4 | 2.290% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A3 Series 2018-M3 | 3.174% | 2/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp; 61 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class APT Series 2013-M12 | 2.496% | 3/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp; 24 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class APT Series 2013-M14 | 2.685% | 4/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class ATS2 Series 2018-M2 | 3.002% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 378 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class AV2 Series 2016-M7 | 2.157% | 10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class AV2 Series 2017-M10 | 2.620% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp; 86 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class AV2 Series 2017-M15 | 3.209% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp; 222 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Fifth Third Auto Trust Class A4 Series 2019-1 | 2.690% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 28 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Lease Trust Class A3 Series 2021-B | 0.370% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2020-A | 1.040% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 5 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2020-B | 0.560% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp; 42 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2020-C | 0.410% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 51 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2021-A | 0.260% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp; 18 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2021-A | 0.300% | 8/15/25 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 111 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2022-A | 1.290% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2022-B | 3.740% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2022-C | 4.480% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2019-A | 2.850% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp; 22 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2020-B | 0.790% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 34 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2020-C | 0.510% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2021-A | 0.300% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2021-A | 0.490% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2022-C | 4.590% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2018-4 | 4.060% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2019-2 | 3.060% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2019-4 | 2.440% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 177 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2020-2 | 1.060% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A1 Series 2020-1 | 0.700% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 266 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K039 | 2.683% | 12/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K040 | 2.768% | 4/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 34 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K042 | 2.267% | 6/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K043 | 2.532% | 10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K047 | 2.827% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp; 21 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K080 | 3.736% | 4/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp; 84 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K087 | 3.591% | 10/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 82 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K121 | 0.995% | 8/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp; 20 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K122 | 0.863% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K129 | 1.342% | 9/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 37 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K143 | 2.711% | 4/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K1520 | 2.007% | 7/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K036 | 3.527% | 10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 321 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K038 | 3.389% | 3/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K039 | 3.303% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 220 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K040 | 3.241% | 9/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 268 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K041 | 3.171% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 267 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K042 | 2.670% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K043 | 3.062% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K045 | 3.023% | 1/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 154 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K046 | 3.205% | 3/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K047 | 3.329% | 5/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K048 | 3.284% | 6/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 314 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K049 | 3.010% | 7/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K050 | 3.334% | 8/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K052 | 3.151% | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K053 | 2.995% | 12/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K056 | 2.525% | 5/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K058 | 2.653% | 8/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K064 | 3.224% | 3/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 285 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K065 | 3.243% | 4/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433 | &nbsp;&nbsp;&nbsp; 412 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K066 | 3.117% | 6/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K067 | 3.194% | 7/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 474 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K068 | 3.244% | 8/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K069 | 3.187% | 9/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K070 | 3.303% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K071 | 3.286% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 213 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K072 | 3.444% | 12/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K073 | 3.350% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K074 | 3.600% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K075 | 3.650% | 2/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K076 | 3.900% | 4/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 341 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K078 | 3.854% | 6/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K079 | 3.926% | 6/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K080 | 3.926% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 170 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K081 | 3.900% | 8/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 340 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K082 | 3.920% | 9/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K083 | 4.050% | 9/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 1660 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K084 | 3.780% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 264 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K085 | 4.060% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 219 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K087 | 3.771% | 12/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 385 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K088 | 3.690% | 1/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 263 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K089 | 3.563% | 1/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K090 | 3.422% | 2/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K091 | 3.505% | 3/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 426 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K092 | 3.298% | 4/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 210 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K093 | 2.982% | 5/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 367 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K094 | 2.903% | 6/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 250 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K095 | 2.785% | 6/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 249 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K096 | 2.519% | 7/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 200 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K098 | 2.425% | 8/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 397 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K099 | 2.595% | 9/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 187 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K101 | 2.524% | 10/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 327 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K102 | 2.537% | 10/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 310 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K103 | 2.651% | 11/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 267 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K104 | 2.253% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 385 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K105 | 1.872% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 80 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K106 | 2.069% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp; 1108 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K107 | 1.639% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K108 | 1.517% | 3/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 123 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K109 | 1.558% | 4/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 348 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K110 | 1.477% | 4/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K111 | 1.350% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K114 | 1.366% | 6/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K116 | 1.378% | 7/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 256 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K117 | 1.406% | 8/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K118 | 1.493% | 9/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 321 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K120 | 1.500% | 10/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 240 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K121 | 1.547% | 10/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 141 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K122 | 1.521% | 11/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K124 | 1.658% | 12/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K125 | 1.846% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 573 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K126 | 2.074% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 209 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K127 | 2.108% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 355 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K128 | 2.020% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 207 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K129 | 1.914% | 5/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 328 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K130 | 1.723% | 6/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K131 | 1.853% | 7/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 325 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K132 | 2.023% | 8/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K133 | 2.096% | 9/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K134 | 2.243% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K135 | 2.154% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 104 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K138 | 2.476% | 1/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K140 | 2.250% | 1/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K143 | 2.350% | 3/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K148 | 3.500% | 7/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 647 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1510 | 3.718% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1511 | 3.470% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1514 | 2.859% | 10/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 191 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1515 | 1.940% | 2/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 115 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1516 | 1.721% | 5/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 158 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1517 | 1.716% | 7/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 18 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1518 | 1.860% | 10/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1519 | 2.013% | 12/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K152 | 3.080% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1520 | 2.438% | 2/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1521 | 2.184% | 8/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 114 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1522 | 2.361% | 10/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 113 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K155 | 3.750% | 11/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K157 | 3.990% | 5/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K158 | 3.900% | 12/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K159 | 3.950% | 11/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K723 | 2.454% | 8/25/23 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 113 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K724 | 3.062% | 11/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp; 91 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K726 | 2.905% | 4/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp; 134 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K727 | 2.946% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K728 | 3.064% | 8/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp; 237 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K729 | 3.136% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 873 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K730 | 3.590% | 1/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 259 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K731 | 3.600% | 2/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K734 | 3.208% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 360 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K735 | 2.862% | 5/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp; 471 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K738 | 1.545% | 1/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K739 | 1.336% | 9/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K742 | 1.760% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K743 | 1.770% | 5/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K744 | 1.712% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp; 85 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K745 | 1.657% | 8/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K746 | 2.031% | 9/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K747 | 2.050% | 11/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series KC02 | 3.370% | 7/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 155 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series KW01 | 2.853% | 1/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K1510 | 3.794% | 1/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 362 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K1511 | 3.542% | 3/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K1513 | 2.797% | 8/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 277 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K154 | 3.459% | 11/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K155 | 3.750% | 4/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K157 | 3.990% | 8/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class AM Series K749 | 2.120% | 4/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A3 Series 2021-3 | 0.390% | 10/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A3 Series 2022-1 | 1.900% | 3/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A3 Series 2022-2 | 3.420% | 6/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A3 Series 2022-3 | 4.010% | 9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A4 Series 2021-2 | 0.410% | 5/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2020-3 | 0.450% | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 79 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2020-4 | 0.380% | 8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2021-2 | 0.510% | 4/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 51 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2021-3 | 0.480% | 6/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2021-4 | 0.680% | 9/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2022-1 | 1.260% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2022-2 | 3.100% | 2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2022-3 | 3.640% | 4/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2022-4 | 4.820% | 8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 125 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2020-1 | 1.900% | 3/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2020-3 | 0.580% | 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2021-2 | 0.820% | 10/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2021-3 | 0.730% | 8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Securitized Term Class A3 Series 2021-1 | 0.350% | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 44 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Securitized Term Class A4 Series 2021-1 | 0.540% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 231 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A3 Series 2017-GS6 | 3.433% | 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2014-GC18 | 4.074% | 1/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2015-GC30 | 3.382% | 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2015-GC32 | 3.764% | 7/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2015-GC34 | 3.506% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2016-GS2 | 3.050% | 5/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2016-GS3 | 2.850% | 10/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2016-GS4 | 3.442% | 11/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2017-GS5 | 3.674% | 3/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2017-GS7 | 3.430% | 8/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp; 240 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GC39 | 3.567% | 5/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GC40 | 3.160% | 7/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 132 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GC42 | 3.001% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 235 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GSA1 | 3.048% | 11/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2013-GC13 | 4.176% | 7/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp; 20 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2013-GC14 | 4.243% | 8/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2014-GC22 | 3.862% | 6/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2014-GC24 | 3.931% | 9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2014-GC26 | 3.629% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2015-GC28 | 3.396% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2020-GC45 | 2.911% | 2/13/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 106 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2020-GC47 | 2.377% | 5/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2020-GSA2 | 2.012% | 12/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AAB Series 2013-GC14 | 3.817% | 8/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AAB Series 2014-GC26 | 3.365% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 28 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AAB Series 2015-GC32 | 3.513% | 7/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 63 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AB Series 2015-GC34 | 3.278% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2014-GC26 | 3.964% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2016-GS4 | 3.645% | 11/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2017-GS5 | 3.826% | 3/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2017-GS6 | 3.638% | 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2017-GS7 | 3.663% | 8/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 63 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2019-GC42 | 3.212% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2020-GC45 | 3.173% | 2/13/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 30 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2020-GSA2 | 2.224% | 12/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class B Series 2014-GC24 | 4.511% | 9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class B Series 2014-GC26 | 4.215% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class C Series 2017-GS6 | 4.322% | 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Motorcycle Trust Class A3 Series 2021-B | 0.560% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Motorcycle Trust Class A3 Series 2022-A | 3.060% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Motorcycle Trust Class A4 Series 2022-A | 3.260% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2021-1 | 0.270% | 4/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2021-2 | 0.330% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 116 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2021-3 | 0.410% | 11/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2021-4 | 0.880% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2022-1 | 1.880% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2022-2 | 3.730% | 7/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A4 Series 2020-1 | 1.630% | 10/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp; 20 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A4 Series 2020-3 | 0.460% | 4/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A4 Series 2021-1 | 0.420% | 1/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2020-A | 1.410% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2020-B | 0.480% | 12/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp; 16 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2020-C | 0.380% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp; 31 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2021-A | 0.380% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2021-C | 0.740% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A4 Series 2020-B | 0.620% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A4 Series 2021-A | 0.620% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;John Deere Owner Trust Class A3 Series 2021-B | 0.520% | 3/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;John Deere Owner Trust Class A3 Series 2022-C | 5.090% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 175 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;John Deere Owner Trust Class A4 Series 2022-C | 5.200% | 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A4 Series 2013-C16 | 4.166% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A4 Series 2016-JP4 | 3.648% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A5 Series 2013-C10 | 3.143% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A5 Series 2014-C20 | 3.805% | 7/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A5 Series 2015-JP1 | 3.914% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A5 Series 2016-JP3 | 2.870% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class AS Series 2013-C10 | 3.372% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 39 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class AS Series 2016-JP4 | 3.870% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class B Series 2013-LC11 | 3.499% | 4/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A2 Series 2014-C24 | 2.940% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A3 Series 2014-C19 | 3.669% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A3 Series 2015-C31 | 3.801% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp; 89 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2013-C14 | 4.133% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2014-C19 | 3.997% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2014-C22 | 3.801% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2014-C26 | 3.494% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C27 | 3.179% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 56 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C28 | 3.227% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C29 | 3.611% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C33 | 3.770% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp; 78 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2013-C12 | 3.664% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2013-C15 | 4.131% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 64 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C18 | 4.079% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp; 124 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C21 | 3.775% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C23 | 3.934% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 82 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C24 | 3.639% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C25 | 3.672% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2015-C30 | 3.822% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2015-C32 | 3.598% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2013-C12 | 4.052% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2013-C14 | 4.409% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2013-C15 | 4.420% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 34 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C18 | 4.439% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C19 | 4.243% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C22 | 4.110% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C23 | 4.202% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C24 | 3.914% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C25 | 4.065% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C26 | 3.800% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2015-C28 | 3.532% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2015-C30 | 4.226% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2013-C14 | 3.761% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2013-C15 | 3.659% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2014-C21 | 3.428% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C27 | 3.017% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 51 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C29 | 3.304% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C30 | 3.559% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 54 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C31 | 3.540% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C32 | 3.358% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp; 61 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2016-C1 | 3.316% | 3/17/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 43 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class B Series 2014-C18 | 4.735% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class B Series 2014-C26 | 3.951% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A4 Series 2019-COR5 | 3.386% | 6/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A5 Series 2017-JP5 | 3.723% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 374 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A5 Series 2017-JP6 | 3.490% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A5 Series 2019-COR4 | 4.029% | 3/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class AS Series 2017-JP6 | 3.744% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class AS Series 2019-COR5 | 3.669% | 6/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A4 Series 2016-C2 | 3.144% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A4 Series 2018-C8 | 4.211% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 211 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A4 Series 2019-COR6 | 3.057% | 11/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A5 Series 2017-C7 | 3.409% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A5 Series 2020-COR7 | 2.180% | 5/13/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class AS Series 2016-C2 | 3.484% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class AS Series 2017-C7 | 3.713% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class AS Series 2018-C8 | 4.421% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A3 Series 2021-A | 0.250% | 1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp; 32 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A3 Series 2021-B | 0.400% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A4 Series 2020-B | 0.500% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A4 Series 2021-A | 0.320% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A4 Series 2021-B | 0.510% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Receivables Trust Class A3 Series 2021-1 | 0.460% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Receivables Trust Class A4 Series 2020-1 | 0.770% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 9 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A3 Series 2017-C34 | 3.276% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2013-C11 | 4.295% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2014-C19 | 3.526% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C20 | 3.249% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C21 | 3.338% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C22 | 3.306% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C23 | 3.719% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C24 | 3.732% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C27 | 3.753% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2016-C28 | 3.544% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 212 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2017-C34 | 3.536% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2014-C14 | 4.064% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2014-C16 | 3.892% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2015-C25 | 3.635% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2015-C26 | 3.531% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2016-C30 | 2.860% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2016-C31 | 3.102% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2017-C33 | 3.599% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class AS Series 2013-C7 | 3.214% | 2/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class AS Series 2017-C33 | 3.852% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2014-C16 | 3.477% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2014-C19 | 3.326% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp; 18 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C20 | 3.069% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp; 16 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C22 | 3.040% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 38 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C23 | 3.398% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C25 | 3.383% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 57 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C26 | 3.323% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C27 | 3.557% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2016-C28 | 3.288% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 46 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class B Series 2014-C14 | 5.021% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class B Series 2014-C16 | 4.315% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class B Series 2014-C18 | 4.579% | 10/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class B Series 2015-C22 | 3.883% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A3 Series 2016-UBS9 | 3.329% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A3 Series 2019-L2 | 3.806% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A3 Series 2020-L4 | 2.698% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 147 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2015-UBS8 | 3.809% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2016-BNK2 | 3.049% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2016-UB11 | 2.782% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 181 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2016-UBS12 | 3.596% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2017-HR2 | 3.587% | 12/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2019-H6 | 3.417% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 223 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2019-L2 | 4.071% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2019-L3 | 3.127% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2020-HR8 | 2.041% | 7/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 52 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2021-L6 | 2.444% | 6/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A5 Series 2017-H1 | 3.530% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A5 Series 2021-L7 | 2.574% | 10/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A5 Series 2022-L8 | 3.922% | 4/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class AS Series 2016-BNK2 | 3.282% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class AS Series 2019-H6 | 3.700% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class AS Series 2020-L4 | 2.880% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Lease Trust Class A3 Series 2021-A | 0.520% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A3 Series 2020-B | 0.550% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A3 Series 2021-A | 0.330% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A3 Series 2022-A | 1.860% | 8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A3 Series 2022-B | 4.460% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A4 Series 2019-C | 1.950% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 34 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A4 Series 2021-A | 0.570% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A4 Series 2022-A | 2.070% | 12/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2021-2 | 0.590% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2021-4 | 0.880% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2022-1 | 2.360% | 8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2022-2 | 3.440% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2020-2 | 1.460% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2020-3 | 1.120% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2021-1 | 0.750% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2021-3 | 0.950% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2021-4 | 1.260% | 2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2022-1 | 2.560% | 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2022-2 | 3.760% | 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class D Series 2021-2 | 1.350% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 56 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class D Series 2021-3 | 1.330% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Synchrony Card Funding LLC Class A Series 2022-A1 | 3.370% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2020-A | 0.260% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2020-B | 1.360% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2020-C | 0.440% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 15 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2020-D | 0.350% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp; 35 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2021-B | 0.260% | 11/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 312 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2021-C | 0.430% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2021-D | 0.710% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2022-B | 2.930% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2022-C | 3.760% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2020-A | 1.680% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2020-A | 0.390% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2020-D | 0.470% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2021-B | 0.530% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A2 Series 2018-C13 | 4.208% | 10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A3 Series 2017-C4 | 3.301% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp; 83 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A3 Series 2018-C8 | 3.720% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp; 115 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C1 | 3.460% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C2 | 3.487% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C3 | 3.426% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 160 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C4 | 3.563% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C7 | 3.679% | 12/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C10 | 4.313% | 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 165 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C13 | 4.334% | 10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C14 | 4.448% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 212 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C15 | 4.341% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C9 | 4.117% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 255 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2019-C16 | 3.605% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2019-C17 | 2.921% | 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 106 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2019-C18 | 3.035% | 12/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A5 Series 2017-C5 | 3.474% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A5 Series 2018-C11 | 4.241% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A5 Series 2018-C12 | 4.296% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C1 | 3.724% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C2 | 3.740% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C3 | 3.739% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C4 | 3.836% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp; 56 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C7 | 4.061% | 12/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2018-C8 | 4.215% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2019-C16 | 3.887% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS-Barclays Commercial Mortgage Trust Class A4 Series 2013-C6 | 3.244% | 4/10/46 | &nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp; 111 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS-Barclays Commercial Mortgage Trust Class AS Series 2013-C6 | 3.469% | 4/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2021-1 | 0.500% | 5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 517 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2021-2 | 0.990% | 4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 326 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2022-2 | 1.530% | 7/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2022-4 | 3.400% | 11/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2022-6 | 3.670% | 1/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Owner Trust Class A Series 2020-C | 0.410% | 4/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Volkswagen Auto Loan Enhanced Trust Class A3 Series 2021-1 | 1.020% | 6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A2 Series 2015-NXS1 | 2.632% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A3 Series 2016-BNK1 | 2.652% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A3 Series 2016-C36 | 2.807% | 11/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A3 Series 2017-C40 | 3.317% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C26 | 3.166% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C27 | 3.190% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C28 | 3.540% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C29 | 3.637% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C30 | 3.664% | 9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-LC22 | 3.839% | 9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-P2 | 3.809% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-SG1 | 3.789% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp; 195 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2016-C33 | 3.426% | 3/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 305 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2016-C34 | 3.096% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2016-LC24 | 2.942% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp; 148 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2017-C40 | 3.581% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2017-C41 | 3.472% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2018-C43 | 4.012% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 258 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2018-C45 | 4.184% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2018-C46 | 4.152% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2018-C47 | 4.442% | 9/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2019-C51 | 3.311% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2019-C53 | 3.040% | 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2019-C54 | 3.146% | 12/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2020-C58 | 2.092% | 7/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2014-LC16 | 3.817% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2014-LC18 | 3.405% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2015-LC20 | 3.184% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp; 261 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2015-NXS1 | 3.148% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2016-C37 | 3.794% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2017-C38 | 3.453% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp; 177 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2017-C39 | 3.418% | 9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2018-C44 | 4.212% | 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2019-C52 | 2.892% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 234 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2020-C55 | 2.725% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2020-C56 | 2.448% | 6/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2021-C59 | 2.626% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2014-LC18 | 3.808% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2015-C26 | 3.580% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2015-C28 | 3.872% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp; 29 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2015-LC22 | 4.207% | 9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2017-C38 | 3.665% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2017-C39 | 3.702% | 9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2017-C40 | 3.854% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2018-C43 | 4.152% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2019-C52 | 3.143% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-C26 | 2.991% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp; 52 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-C29 | 3.400% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp; 56 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-LC20 | 2.978% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-LC22 | 3.571% | 9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-NXS1 | 2.934% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp; 15 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-P2 | 3.656% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp; 59 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2016-C32 | 3.324% | 1/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp; 35 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2016-LC24 | 2.825% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class B Series 2015-LC20 | 3.719% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A3 Series 2014-C24 | 3.428% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A4 Series 2013-C13 | 3.001% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp; 76 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A4 Series 2013-C17 | 4.023% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A4 Series 2014-C21 | 3.410% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2013-C16 | 4.415% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 30 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C19 | 4.101% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C20 | 3.995% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C21 | 3.678% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C22 | 3.752% | 9/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C23 | 3.917% | 10/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C24 | 3.607% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 62 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C25 | 3.631% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-LC14 | 4.045% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 137 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C12 | 3.560% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C13 | 3.345% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 15 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C14 | 3.488% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C15 | 4.358% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C16 | 4.668% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C17 | 4.255% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2014-C20 | 4.176% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2014-LC14 | 4.351% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 58 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2013-C15 | 3.720% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2013-C16 | 3.963% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2013-C17 | 3.558% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2014-C19 | 3.618% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2014-C20 | 3.638% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2014-C23 | 3.636% | 10/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2014-LC14 | 3.522% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class B Series 2013-C17 | 4.788% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class B Series 2014-C19 | 4.723% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class B Series 2014-C22 | 4.371% | 9/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2019-C | 1.960% | 12/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2020-B | 0.630% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp; 21 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2020-C | 0.480% | 11/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp; 30 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2021-A | 0.300% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp; 36 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2021-B | 0.420% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2021-C | 0.440% | 8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2021-D | 0.810% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2022-A | 1.660% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2022-B | 3.250% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2022-C | 3.660% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A4 Series 2020-B | 0.820% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 9 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A4 Series 2020-C | 0.610% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Automobile Lease Securitization Trust Class A3 Series 2021-A | 0.420% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Automobile Lease Securitization Trust Class A4 Series 2020-B | 0.520% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Select Auto Trust Class A3 Series 2020-A | 0.550% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | &nbsp;&nbsp;&nbsp;&nbsp;**103699** |
| **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** |
| **Communications (2.3%)** | **Communications (2.3%)** | **Communications (2.3%)** | **Communications (2.3%)** | **Communications (2.3%)** | **Communications (2.3%)** |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | 3.400% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | 1.350% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | 4.500% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | 2.500% | 9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 0.450% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 0.800% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 429 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 1.100% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 393 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 1.900% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 2.250% | 8/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 3.625% | 4/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 4.700% | 7/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 239 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 6.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 6.125% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 6.125% | 3/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 4.375% | 7/16/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 4.375% | 4/22/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 0.900% | 3/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 475 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 1.700% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.800% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 667 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 401 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 423 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.100% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp; 383 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp; 619 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.300% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 433 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 374 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 470 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.550% | 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.500% | 5/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.900% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 276 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp; 430 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 373 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.300% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.750% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 5.150% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp; 664 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 326 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 424 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.500% | 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;1458 | &nbsp;&nbsp; 992 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.550% | 9/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp; 1047 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.800% | 12/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.650% | 9/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp; 426 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 4.375% | 5/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 3.075% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 3.425% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 2.375% | 8/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Bell Telephone Co. of Canada or Bell Canada | 3.200% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 3.650% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 3.550% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 4.625% | 4/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 290 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;British Telecommunications plc | 9.625% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp; 616 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.908% | 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 834 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.750% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 2.250% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.050% | 3/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 6.384% | 10/23/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 329 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 6.484% | 10/23/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 329 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp; 476 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 234 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 6.834% | 10/23/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 289 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.400% | 12/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.950% | 6/30/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.375% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.375% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 482 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.950% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp; 612 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.350% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.150% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 300 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.150% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp; 913 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.250% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 1.950% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 403 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 1.500% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.250% | 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.200% | 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 5.650% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp; 1114 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.400% | 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.200% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 6.450% | 3/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.600% | 10/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.250% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.650% | 7/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.400% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.969% | 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp; 871 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.700% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.999% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.800% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.887% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp; 571 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.937% | 11/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp; 535 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.950% | 10/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.987% | 11/1/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp; 516 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom International Finance BV | 8.750% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp; 914 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.800% | 3/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.900% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.950% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp; 289 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.950% | 3/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 5.000% | 9/20/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 6.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 5.200% | 9/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 5.300% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 4.650% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 4.000% | 9/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Electronic Arts Inc. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Expedia Group Inc. | 5.000% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Expedia Group Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp;Expedia Group Inc. | 3.250% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Expedia Group Inc. | 2.950% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;Fox Corp. | 4.030% | 1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;Fox Corp. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Fox Corp. | 4.709% | 1/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 363 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. | 5.476% | 1/25/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. | 5.576% | 1/25/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 291 |
|  | &nbsp;&nbsp;&nbsp;Grupo Televisa SAB | 4.625% | 1/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Grupo Televisa SAB | 6.625% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Grupo Televisa SAB | 5.000% | 5/13/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Grupo Televisa SAB | 5.250% | 5/24/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | 4.200% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 206 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | 4.650% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | 4.750% | 3/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | 5.400% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | 8.375% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 3.428% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 291 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 3.638% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 285 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 3.755% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 722 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 4.279% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 825 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 5.050% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 692 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 5.141% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1028 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 5.391% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 440 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. | 3.500% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. | 3.850% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. | 4.450% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. | 4.650% | 8/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;NBCUniversal Media LLC | 4.450% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | 2.450% | 4/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. / Omnicom Capital Inc. | 3.650% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. / Omnicom Capital Inc. | 3.600% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;Orange SA | 9.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 673 |
|  | &nbsp;&nbsp;&nbsp;Orange SA | 5.375% | 1/13/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 315 |
|  | &nbsp;&nbsp;&nbsp;Orange SA | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.750% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp; 132 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.000% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 384 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 2.900% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 3.375% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.950% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.200% | 5/19/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 5.500% | 5/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 6.875% | 4/30/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 5.900% | 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.375% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp; 281 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 5.850% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.900% | 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.950% | 5/19/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 3.625% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 2.900% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 3.200% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 3.800% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 345 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 4.500% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 4.500% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 5.000% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 3.700% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 102 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 4.550% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 3.300% | 3/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 3.550% | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 3.700% | 4/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 4.103% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 7.045% | 6/20/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 491 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 4.665% | &nbsp;&nbsp;&nbsp;&nbsp;3/6/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 5.213% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 444 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 4.895% | &nbsp;&nbsp;&nbsp;&nbsp;3/6/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Europe BV | 8.250% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;TELUS Corp. | 2.800% | 2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;TELUS Corp. | 3.400% | 5/13/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;TELUS Corp. | 4.300% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable Enterprises LLC | 8.375% | 7/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 6.550% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 7.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 6.750% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 5.875% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 4.500% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.500% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 578 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 1.500% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.250% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.625% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.750% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 754 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 5.375% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.050% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.625% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.400% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.375% | 4/15/29 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.875% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1520 | &nbsp;&nbsp; 1380 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.550% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 733 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.875% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.500% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.250% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 393 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.700% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 4.375% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 343 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.000% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 4.500% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 495 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.300% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 667 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.400% | 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.600% | 11/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 3.000% | 2/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 1.850% | 7/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 4.375% | 8/16/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 4.125% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 3.700% | 12/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 3.000% | 7/30/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp;Verisign Inc. | 2.700% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.376% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 0.850% | 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 447 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 1.450% | 3/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.625% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.125% | 3/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 682 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.000% | 3/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.100% | 3/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 520 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.329% | 9/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp; 798 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.016% | 12/3/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727 | &nbsp;&nbsp; 680 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.150% | 3/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 1.680% | 10/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp; 410 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 1.750% | 1/20/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 387 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.550% | 3/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 658 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.355% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp; 740 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.500% | 8/10/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 539 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.400% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 667 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.272% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 5.250% | 3/16/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.812% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.650% | 11/20/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 473 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.400% | 3/22/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 452 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;9/3/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.750% | 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.125% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.862% | 8/21/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp; 579 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.522% | 9/15/48 | &nbsp;&nbsp; 747 | &nbsp;&nbsp; 639 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.000% | 3/22/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.875% | 11/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.550% | 3/22/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 644 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.987% | 10/30/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 552 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.000% | 11/20/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.700% | 3/22/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 491 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 3.750% | 1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 7.875% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 6.250% | 11/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 6.150% | 2/27/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 5.000% | 5/30/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 4.375% | 2/19/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 4.875% | 6/19/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 4.250% | 9/17/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 5.125% | 6/19/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.350% | 3/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.700% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 1.750% | 1/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.200% | 1/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 336 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.800% | 3/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.650% | 1/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 598 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 6.200% | 12/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 6.400% | 12/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 6.650% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 4.625% | 3/23/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.500% | 5/13/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 5.400% | 10/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 4.750% | 9/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 4.700% | 3/23/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.600% | 1/13/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.800% | 5/13/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Warnermedia Holdings Inc. | 4.054% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 |
|  | &nbsp;&nbsp;&nbsp;Weibo Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Weibo Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;WPP Finance 2010 | 3.750% | 9/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194 |
|  |  |  |  |  | **89243** |
| **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** |
|  | &nbsp;&nbsp;&nbsp;Advance Auto Parts Inc. | 3.900% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 3.600% | 11/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 3.400% | 12/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 4.500% | 11/28/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 4.000% | 12/6/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 4.200% | 12/6/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 4.400% | 12/6/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 0.450% | 5/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.800% | 8/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.800% | 12/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.000% | 4/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 5.200% | 12/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 1.000% | 5/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.300% | 4/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.150% | 8/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 683 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.550% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 1.650% | 5/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 430 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.450% | 4/13/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.100% | 5/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.600% | 4/13/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.700% | 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.800% | 12/5/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.875% | 8/22/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.875% | 5/12/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.050% | 8/22/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 508 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.100% | 5/12/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.950% | 4/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.250% | 5/12/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.100% | 4/13/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 331 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.900% | 2/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 0.550% | 7/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 468 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.150% | 9/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.000% | 3/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.250% | 1/12/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 1.800% | 1/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 238 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American University | 3.672% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc | 4.350% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc | 4.400% | 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc | 5.400% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc | 3.100% | 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc / Aptiv Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc / Aptiv Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;AutoNation Inc. | 3.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;AutoNation Inc. | 4.500% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;AutoNation Inc. | 3.800% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;AutoNation Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.125% | 4/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.750% | 4/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 4.000% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 231 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 1.650% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Best Buy Co. Inc. | 4.450% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;BorgWarner Inc. | 3.375% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;BorgWarner Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;BorgWarner Inc. | 4.375% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Brunswick Corp. | 0.850% | 8/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;California Endowment | 2.498% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 31 |
|  | &nbsp;&nbsp;&nbsp;California Institute of Technology | 4.321% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;California Institute of Technology | 4.700% | 11/1/11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;California Institute of Technology | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Claremont Mckenna College | 3.775% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Daimler Finance North America LLC | 8.500% | 1/18/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Darden Restaurants Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Darden Restaurants Inc. | 4.550% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Dick's Sporting Goods Inc. | 3.150% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Dick's Sporting Goods Inc. | 4.100% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;DR Horton Inc. | 2.500% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke University | 2.682% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke University | 2.832% | 10/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 1.900% | 3/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 1.400% | 5/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 283 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 2.700% | 3/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 2.600% | 5/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 4.000% | 7/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 3.650% | 5/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Emory University | 2.143% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Emory University | 2.969% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 34 |
|  | &nbsp;&nbsp;&nbsp;Ford Foundation | 2.415% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Ford Foundation | 2.815% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Fortune Brands Innovations Inc. | 4.000% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;Fortune Brands Innovations Inc. | 3.250% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 6.125% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp; 612 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 6.800% | 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.600% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 6.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 6.250% | 10/2/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 1.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.950% | 4/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 392 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 1.200% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.500% | 11/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.900% | 2/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;958 | &nbsp;&nbsp; 909 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 317 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.750% | 6/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 1.500% | 6/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.350% | 1/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 309 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.700% | 8/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 437 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.400% | 4/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.400% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.600% | 6/21/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 589 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.700% | 6/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;George Washington University | 4.126% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 251 |
|  | &nbsp;&nbsp;&nbsp;Georgetown University | 4.315% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Georgetown University | 2.943% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Georgetown University | 5.215% | 10/1/18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Harley-Davidson Inc. | 3.500% | 7/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Harley-Davidson Inc. | 4.625% | 7/28/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Hasbro Inc. | 3.900% | 11/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 311 |
|  | &nbsp;&nbsp;&nbsp;Hasbro Inc. | 6.350% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Hasbro Inc. | 5.100% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.750% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.700% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.500% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.800% | 9/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.950% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 543 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.700% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 389 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 1.375% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 1.875% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.250% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.500% | 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 5.875% | 12/16/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp; 883 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.300% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.875% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.400% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 287 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.900% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.500% | 12/6/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 206 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.350% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.375% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.750% | 9/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 199 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.625% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.950% | 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Honda Motor Co. Ltd. | 2.534% | 3/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Honda Motor Co. Ltd. | 2.967% | 3/10/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Howard University | 5.209% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp. | 1.800% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp. | 4.850% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp. | 4.375% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp. | 6.000% | 4/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;JD.com Inc. | 3.875% | 4/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;JD.com Inc. | 3.375% | 1/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Johns Hopkins University | 4.083% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Johns Hopkins University | 4.705% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | 3.800% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | 4.250% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | 3.500% | 5/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | 5.250% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;Leggett & Platt Inc. | 3.800% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Leggett & Platt Inc. | 3.500% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Leggett & Platt Inc. | 4.400% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Leggett & Platt Inc. | 3.500% | 11/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;Leland Stanford Junior University | 3.647% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |

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------

Total Bond Market Index Portfolio

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. | 4.500% | 4/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.125% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.375% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 2.500% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 326 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 1.300% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 1.700% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 6.500% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 277 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.500% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 1.700% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 414 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 446 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 5.000% | 4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 2.800% | 9/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.250% | 9/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 22 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.700% | 4/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.000% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 321 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 5.625% | 4/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 5.800% | 9/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Magna International Inc. | 3.625% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Magna International Inc. | 4.150% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Magna International Inc. | 2.450% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 3.750% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 3.750% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 3.125% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1083 | &nbsp;&nbsp;&nbsp; 1012 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 4.000% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 4.625% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 2.850% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 3.500% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 1.500% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 7.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 2.000% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 4.500% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 3.959% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 2.989% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 3.067% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 5.600% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 4.678% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 3.885% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp; 481 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.700% | 1/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 335 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.700% | 12/9/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 6.300% | 10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 6.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.700% | 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.600% | 5/26/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.875% | 12/9/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 217 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;MDC Holdings Inc. | 2.500% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;MDC Holdings Inc. | 6.000% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Mohawk Industries Inc. | 3.625% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 2.400% | 3/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 2.375% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 2.750% | 3/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 2.850% | 3/27/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 3.875% | 11/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 3.375% | 3/27/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Northwestern University | 4.643% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Northwestern University | 2.640% | 12/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Northwestern University | 3.662% | 12/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
|  | &nbsp;&nbsp;&nbsp;NVR Inc. | 3.000% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;O'Reilly Automotive Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;O'Reilly Automotive Inc. | 1.750% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;President and Fellows of Harvard College | 4.875% | 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;President and Fellows of Harvard College | 3.150% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;President and Fellows of Harvard College | 3.745% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;PulteGroup Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;PulteGroup Inc. | 6.375% | 5/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. | 3.750% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. | 2.950% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Rockefeller Foundation | 2.492% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Ross Stores Inc. | 4.600% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Ross Stores Inc. | 1.875% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 2.450% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 4.000% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.550% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 2.250% | 3/12/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 374 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 2.550% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 4.300% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.750% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 4.500% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.350% | 3/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.500% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 218 |
|  | &nbsp;&nbsp;&nbsp;Tapestry Inc. | 4.125% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp; 22 |
|  | &nbsp;&nbsp;&nbsp;Tapestry Inc. | 3.050% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;TJX Cos. Inc. | 2.250% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | 2.358% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | 1.339% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 448 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | 2.760% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 2.900% | 4/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 0.500% | 6/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 0.625% | 9/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 4.400% | 9/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.450% | 1/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.800% | 2/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.400% | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.125% | 6/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.200% | 1/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.900% | 1/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.150% | 8/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 426 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 4.550% | 9/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.050% | 1/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp; 498 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 2.150% | 2/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 364 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.900% | 9/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Tractor Supply Co. | 1.750% | 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Trustees of Boston College | 3.129% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Trustees of Boston University | 4.061% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;Trustees of Princeton University | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Trustees of Princeton University | 2.516% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Trustees of Princeton University | 4.201% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Trustees of the University of Pennsylvania | 2.396% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Trustees of the University of Pennsylvania | 4.674% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Chicago | 2.547% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;University of Chicago | 3.000% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Chicago | 4.003% | 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;University of Miami | 4.063% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Notre Dame du Lac | 3.438% | 2/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;University of Notre Dame du Lac | 3.394% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Southern California | 3.028% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Southern California | 3.841% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;University of Southern California | 2.945% | 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;University of Southern California | 5.250% | 10/1/11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;VF Corp. | 2.400% | 4/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;VF Corp. | 2.950% | 4/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Washington University | 3.524% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Washington University | 4.349% | 4/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 4.750% | 2/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 4.600% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;William Marsh Rice University | 3.574% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Yale University | 0.873% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Yale University | 1.482% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Yale University | 2.402% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
|  |  |  |  |  | **64730** |
| **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** |
|  | &nbsp;&nbsp;&nbsp;Ahold Finance USA LLC | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 4.000% | 1/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 5.800% | 2/14/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 5.375% | 1/31/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 3.875% | 9/16/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 5.950% | 2/14/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 474 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 6.200% | 2/14/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1007 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;1195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1127 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;1630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1492 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Finance Inc. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Finance Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Finance Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.000% | 4/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.750% | 1/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 460 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 909 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.375% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 8.200% | 1/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 5.450% | 1/23/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.950% | 1/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.600% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.439% | 10/6/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 514 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 5.550% | 1/23/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 598 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.750% | 4/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 5.800% | 1/23/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 2.500% | 8/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 5.935% | 10/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 5.375% | 9/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 3.750% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 4.500% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 2.700% | 9/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.222% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 627 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.557% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 797 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 2.259% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 416 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 2.726% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 7.750% | 10/19/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 4.390% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 4.540% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 4.758% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.984% | 9/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Brown-Forman Corp. | 3.500% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Brown-Forman Corp. | 4.500% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Bunge Ltd. Finance Corp. | 3.750% | 9/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Bunge Ltd. Finance Corp. | 2.750% | 5/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 3.950% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 3.300% | 3/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 4.150% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 2.375% | 4/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 4.800% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 3.125% | 4/24/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;Church & Dwight Co. Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Church & Dwight Co. Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Clorox Co. | 3.100% | 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Clorox Co. | 3.900% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Clorox Co. | 1.800% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 3.375% | 3/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.900% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559 | &nbsp;&nbsp; 526 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 1.000% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 3.450% | 3/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 1.375% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 4.125% | 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 4.200% | 3/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 219 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated Inc. | 3.800% | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Femsa SAB de CV | 2.750% | 1/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Femsa SAB de CV | 5.250% | 11/26/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | 3.250% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | 3.100% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | 4.000% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 4.600% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 7.000% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 8.250% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 5.300% | 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.750% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.400% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.700% | 12/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.600% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.650% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356 | &nbsp;&nbsp; 303 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 5.250% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 94 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 3.000% | 5/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 1.375% | 6/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 1.600% | 4/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp; 1555 |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 1.750% | 4/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Delhaize America LLC | 9.000% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 2.125% | 10/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 1.375% | 9/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 5.300% | 10/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 2.000% | 4/29/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 2.125% | 4/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 5.875% | 9/30/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 3.875% | 4/29/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 206 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 4.150% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 3.875% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Dollar Tree Inc. | 4.000% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Dollar Tree Inc. | 4.200% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 3.150% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp; 348 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 2.375% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 6.000% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 4.375% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 4.150% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 3.125% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Flowers Foods Inc. | 3.500% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Fomento Economico Mexicano SAB de CV | 4.375% | 5/10/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Fomento Economico Mexicano SAB de CV | 3.500% | 1/16/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 420 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | 3.650% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | 4.200% | 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 217 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | 2.875% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | 2.250% | 10/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;GSK Consumer Healthcare Capital US LLC | 3.375% | 3/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;GSK Consumer Healthcare Capital US LLC | 3.375% | 3/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;GSK Consumer Healthcare Capital US LLC | 3.625% | 3/24/32 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 881 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 2.050% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 3.200% | 8/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 2.300% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 2.450% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 112 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 3.125% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | 1.800% | 6/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;Ingredion Inc. | 3.200% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Ingredion Inc. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 3.500% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 2.375% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 2.125% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 4.250% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 4.375% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance Inc. | 5.500% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 475 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 478 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 284 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance Inc. | 6.500% | 12/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;JM Smucker Co. | 3.375% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | 3.400% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | 4.300% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | 7.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.417% | 5/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.400% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 2.550% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.430% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.950% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 2.250% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.050% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.500% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.420% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.500% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.050% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 2.750% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 1.050% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.950% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.200% | 4/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.100% | 3/26/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 2.000% | 11/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.200% | 7/30/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize NV | 5.700% | 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 328 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 6.875% | 1/26/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 5.200% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 737 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 4.875% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 2.650% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 7.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 8.000% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 5.400% | 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 5.000% | 4/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 4.650% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 3.950% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. | 3.150% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. | 3.400% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. | 2.500% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp;Mead Johnson Nutrition Co. | 4.125% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp;Mead Johnson Nutrition Co. | 5.900% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Mead Johnson Nutrition Co. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. | 3.000% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. | 4.200% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 2.625% | 3/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 2.750% | 4/13/30 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 1.875% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/4/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 692 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.250% | 3/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.750% | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.500% | 7/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452 | &nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.375% | 10/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.625% | 3/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.000% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.625% | 7/29/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.750% | 3/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 1.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 1.400% | 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.500% | 3/19/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.625% | 10/21/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.600% | 8/13/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 4.450% | 4/14/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.450% | 10/6/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.375% | 7/29/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.875% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.875% | 3/19/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.250% | 11/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.125% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.375% | 8/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.000% | 11/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 2.750% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.125% | 11/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 202 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.375% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.625% | 11/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 1.750% | 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.750% | 11/17/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp; 716 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 6.375% | 5/16/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 212 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 4.375% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 412 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 4.500% | 3/20/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.875% | 8/21/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 0.550% | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 269 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 2.800% | 3/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 469 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 3.000% | 3/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 456 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 1.200% | 10/29/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 5.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/5/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 3.550% | 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 3.500% | 10/25/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 4.450% | 6/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp; 514 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 5.700% | 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 7.250% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 6.150% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 5.850% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 384 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 3.750% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 3.300% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 3.250% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 2.400% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 6.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 4.450% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 6.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 3.150% | 12/14/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 2.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 2.500% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 1.950% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 3.375% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 2.650% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 4.500% | 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 6.500% | 10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 7.000% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 3.900% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 2.950% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 3.950% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 590 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 267 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 4.875% | 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 5.150% | 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 5.100% | 9/28/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 255 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 437 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 3.375% | 3/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 3.100% | 7/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 2.000% | 7/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 1.375% | 9/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 1.750% | 8/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 5.900% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 216 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | 3.800% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366 |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 309 |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | 4.800% | 11/18/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.300% | 4/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 2.650% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.550% | 6/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 1.050% | 9/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.700% | 6/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 2.375% | 9/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 1.800% | 9/22/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 6.200% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.950% | 6/28/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 5.000% | 10/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 4.000% | 4/11/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.625% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 4.050% | 6/29/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 2.650% | 9/22/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 |
|  |  |  |  | **71918** |
| **Energy (1.9%)** | **Energy (1.9%)** | **Energy (1.9%)** | **Energy (1.9%)** | **Energy (1.9%)** |
| &nbsp;&nbsp;&nbsp;Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor Inc. | 5.125% | 9/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc. | 2.061% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc. | 3.337% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc. | 3.138% | 11/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc. | 4.080% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Boardwalk Pipelines LP | 4.950% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Boardwalk Pipelines LP | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp;Boardwalk Pipelines LP | 4.450% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.410% | 2/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.119% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.017% | 1/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 4.234% | 11/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.633% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 2.721% | 1/12/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.060% | 6/17/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.000% | 2/24/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 2.772% | 11/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 2.939% | &nbsp;&nbsp;&nbsp;&nbsp;6/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.001% | 3/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.379% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets plc | 3.279% | 9/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Burlington Resources LLC | 7.400% | 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 2.950% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 6.450% | 6/30/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 5.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 6.500% | 2/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 6.250% | 3/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 4.250% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 2.650% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 5.250% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 6.800% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 6.750% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 5.400% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 3.750% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 7.000% | 6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 5.875% | 3/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 5.125% | 6/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 520 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 3.700% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 2.742% | 12/31/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP | 4.500% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP | 3.250% | 1/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | 1.554% | 5/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | 2.236% | 5/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 428 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 1.018% | 8/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 429 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 3.850% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 3.250% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 5.250% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 2.343% | 8/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;CNOOC Finance 2013 Ltd. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;CNOOC Finance 2013 Ltd. | 3.300% | 9/30/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;CNOOC Finance 2015 USA LLC | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;CNOOC Petroleum North America ULC | 5.875% | 3/10/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;CNOOC Petroleum North America ULC | 6.400% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp;Columbia Pipeline Group Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;Columbia Pipeline Group Inc. | 5.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 4.300% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 2.400% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 5.900% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 5.900% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 475 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 4.875% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. | 6.950% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp; 290 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. | 3.758% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. | 4.300% | 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. | 4.025% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;Continental Resources Inc. | 4.375% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Continental Resources Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Coterra Energy Inc. | 3.900% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;DCP Midstream Operating LP | 5.625% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;DCP Midstream Operating LP | 3.250% | 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.250% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.850% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.250% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.875% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 4.500% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 7.875% | 9/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 7.950% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.000% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 3.250% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 3.500% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 3.125% | 3/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 4.400% | 3/24/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 4.250% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 6.250% | 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 3.600% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 3.000% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 4.600% | 12/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 3.900% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 4.400% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 4.950% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 5.000% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP | 5.875% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP | 7.500% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP | 5.500% | 9/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP | 7.375% | 10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Enbridge Inc. | 2.500% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Enbridge Inc. | 1.600% | 10/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Enbridge Inc. | 3.700% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Enbridge Inc. | 3.125% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 4.500% | 6/10/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 4.000% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 273 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.050% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 678 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.750% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 488 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 298 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.550% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.250% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 412 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 3.750% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 397 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.750% | 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.950% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.300% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.400% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.625% | 10/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 5.800% | 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.125% | 12/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.000% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 271 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.250% | 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 5.000% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 404 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.900% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.750% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.700% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.950% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.125% | 7/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 2.800% | 1/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 7.550% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 6.125% | 10/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.450% | 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.850% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp; 457 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.900% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 372 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.250% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.200% | 1/31/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 276 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.200% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.300% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.950% | 1/31/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 5.250% | 8/16/77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 5.375% | 2/15/78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | 4.150% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | 4.375% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | 4.950% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 5.678% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;EQT Corp. | 3.125% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 3.900% | 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 5.000% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 7.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 2.650% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 366 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.250% | 11/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 1.750% | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp; 438 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 7.250% | 9/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 277 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.625% | 9/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 2.375% | 5/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 341 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 5.100% | 8/17/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 4.250% | 11/23/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.950% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 4.800% | 11/8/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.250% | 11/18/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 323 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.992% | 3/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp; 916 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.043% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.275% | 8/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 556 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.440% | 8/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.482% | 3/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 349 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.610% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 567 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.995% | 8/16/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 4.227% | 3/19/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.567% | &nbsp;&nbsp;&nbsp;&nbsp;3/6/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 4.114% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 4.327% | 3/19/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp; 730 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.452% | 4/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 455 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 3.800% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 2.920% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 6.700% | 9/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 366 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 4.500% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 5.000% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp;Helmerich & Payne Inc. | 2.900% | 9/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Hess Corp. | 3.500% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Hess Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;Hess Corp. | 7.125% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;Hess Corp. | 5.600% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 426 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 494 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 5.800% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 6.950% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 6.550% | 9/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 4.700% | 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 393 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 1.750% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 7.800% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 323 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 7.750% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 5.300% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 5.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 5.050% | 2/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 3.600% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 5.150% | 10/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 4.250% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 4.200% | 10/3/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Marathon Oil Corp. | 4.400% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Marathon Oil Corp. | 6.800% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 5.125% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.875% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 396 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.250% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.000% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 2.650% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.500% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 5.500% | 2/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp; 402 |
| &nbsp;&nbsp;&nbsp;Newfield Exploration Co. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;NOV Inc. | 3.600% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;NOV Inc. | 3.950% | 12/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 2.200% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.550% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.350% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 3.100% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.950% | 7/13/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.500% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 7.150% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp;ONEOK Partners LP | 6.650% | 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 301 |
| &nbsp;&nbsp;&nbsp;ONEOK Partners LP | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 7.375% | 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 6.500% | 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 6.625% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Petroleos Mexicanos | 2.378% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 12 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 2.150% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 4.650% | 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 4.875% | 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 459 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 3.300% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 2.450% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 3.605% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 3.150% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 4.680% | 2/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. | 1.900% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. | 2.150% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 3.600% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 581 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 4.500% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 3.550% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 239 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 3.800% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 6.650% | 1/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 4.700% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.750% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 400 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 401 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.875% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 455 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.000% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 4.200% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 4.500% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.900% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 150 |
|  | &nbsp;&nbsp;&nbsp;Schlumberger Investment SA | 2.650% | 6/26/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.250% | 5/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.875% | 5/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 471 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.500% | 9/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 835 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.875% | 11/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.375% | 11/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 476 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.125% | 5/11/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 6.375% | 12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 524 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 5.500% | 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.875% | 11/26/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.550% | 8/12/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 271 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.375% | 5/11/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp; 377 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.000% | 5/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 577 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.125% | 11/7/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 353 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.000% | 11/26/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 4.750% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 497 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 3.500% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 3.375% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 4.500% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 267 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 5.950% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 6.800% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 6.500% | 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 4.000% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Corp. | 4.950% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 6.500% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 5.000% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 6.875% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 4.000% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;TC PipeLines LP | 3.900% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Total Capital International SA | 3.461% | 7/12/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Total Capital International SA | 3.127% | 5/29/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Total Capital International SA | 3.386% | 6/29/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA | 3.700% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA | 2.434% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA | 2.829% | 1/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 1.000% | 10/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.250% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.100% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 2.500% | 10/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 5.600% | 3/31/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 5.850% | 3/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.750% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 6.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.875% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp;Transcontinental Gas Pipe Line Co. LLC | 4.000% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Transcontinental Gas Pipe Line Co. LLC | 3.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Transcontinental Gas Pipe Line Co. LLC | 4.600% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 7.500% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 6.625% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 4.900% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 3.650% | 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Valero Energy Partners LP | 4.500% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Williams Companies Inc. | 4.650% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Williams Companies Inc. | 5.300% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 4.550% | 6/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 396 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 3.900% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 664 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 3.750% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 3.500% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 2.600% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 6.300% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 5.800% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 5.750% | 6/24/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 5.100% | 9/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 3.500% | 10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 |
|  |  |  |  | **76093** |
| **Financials (7.9%)** | **Financials (7.9%)** | **Financials (7.9%)** | **Financials (7.9%)** | **Financials (7.9%)** |
| &nbsp;&nbsp;&nbsp;ACE Capital Trust II | 9.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Aegon NV | 5.500% | 4/11/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.650% | 10/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 6.500% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 4.450% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 2.450% | 10/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.650% | 7/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 4.625% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.875% | 1/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.000% | 10/29/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 629 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.300% | 1/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 586 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.400% | 10/29/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.850% | 10/29/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group Inc. | 4.250% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group Inc. | 3.300% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | 2.875% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | 4.000% | 10/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | 4.750% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 4.250% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.200% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.625% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 4.625% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.250% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.125% | 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 621 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.875% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Aircastle Ltd. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 387 |
| &nbsp;&nbsp;&nbsp;Aircastle Ltd. | 4.250% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Alleghany Corp. | 3.625% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Alleghany Corp. | 4.900% | 9/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Alleghany Corp. | 3.250% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Allied World Assurance Co. Holdings Ltd. | 4.350% | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 1.450% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 5.550% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 4.500% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 4.200% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 3.850% | 8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 6.500% | 5/15/67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 1.450% | 10/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp; 495 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 3.875% | 5/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 5.125% | 9/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 2.200% | 11/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 8.000% | 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 413 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.400% | 2/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.000% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.625% | 12/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 4.200% | 11/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.125% | 5/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 1.650% | 11/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 4.050% | 12/3/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;American Financial Group Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;American Financial Group Inc. | 4.500% | 6/15/47 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.125% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.250% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 3.400% | 6/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 3.875% | 1/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.700% | 7/10/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp; 501 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.500% | 7/16/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 303 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | 3.700% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp; 19 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | 2.875% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 8.205% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 4.500% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 2.800% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 346 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 6.250% | 9/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Aon plc | 3.500% | 6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Aon plc | 3.875% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Aon plc | 4.600% | 6/14/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Aon plc | 4.750% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Arch Capital Finance LLC | 4.011% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Arch Capital Finance LLC | 5.031% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group Ltd. | 7.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group Ltd. | 3.635% | 6/30/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group US Inc. | 5.144% | 11/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 4.200% | 6/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 3.250% | 7/15/25 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 2.150% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 424 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 2.875% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Assurant Inc. | 4.200% | 9/27/23 | &nbsp;&nbsp; 74 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Assurant Inc. | 4.900% | 3/27/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Assurant Inc. | 6.750% | 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| &nbsp;&nbsp;&nbsp;Assured Guaranty US Holdings Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Athene Holding Ltd. | 4.125% | 1/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Athene Holding Ltd. | 6.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Athene Holding Ltd. | 3.500% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;Athene Holding Ltd. | 3.950% | 5/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd. | 3.700% | 11/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd. | 5.088% | 12/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;AXA SA | 8.600% | 12/15/30 | &nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;AXIS Specialty Finance LLC | 3.900% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;AXIS Specialty Finance LLC | 4.900% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;AXIS Specialty Finance plc | 4.000% | 12/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 510 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 5.147% | 8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 5.179% | 11/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 1.849% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 888 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 4.250% | 4/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 572 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 5.294% | 8/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 3.800% | 2/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 4.379% | 4/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 2.958% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 481 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.843% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 647 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 0.976% | 4/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.093% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.456% | 10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.530% | 12/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp; 1130 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.366% | 1/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.015% | 2/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 927 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.384% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582 | &nbsp;&nbsp; 556 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.500% | 4/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.319% | 6/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.250% | 10/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp; 701 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.197% | 10/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 445 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.559% | 4/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 703 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.734% | 7/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 438 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.248% | 10/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 693 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.183% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 532 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.824% | 1/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;1248 | &nbsp;&nbsp;&nbsp; 1165 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.551% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 599 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.705% | 4/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 324 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.593% | 7/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 737 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 6.204% | 11/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.419% | 12/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp; 1210 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.970% | &nbsp;&nbsp;&nbsp;&nbsp;3/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.087% | 6/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1262 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.271% | 7/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.974% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.194% | 7/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp; 968 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.884% | 10/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.496% | 2/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 609 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.592% | 4/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1632 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.687% | 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.572% | 10/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp; 1177 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.972% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp; 746 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 5.015% | 7/22/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 474 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 6.110% | 1/29/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.846% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 471 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.244% | 4/24/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 7.750% | 5/14/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.078% | 4/23/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.676% | 6/19/41 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 303 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.311% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp; 493 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 5.000% | 1/21/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp; 565 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.750% | 4/21/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.443% | 1/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.330% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.083% | 3/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp; 1185 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.831% | 10/24/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.483% | 3/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 356 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.972% | 7/21/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Bank of America NA | 6.000% | 10/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 2.500% | 6/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 0.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 1.500% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 1.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 4.338% | 10/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 3.803% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.250% | 9/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.100% | 10/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.000% | 2/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547 | &nbsp;&nbsp; 527 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 5.224% | 11/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp; 540 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.450% | 8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.050% | 1/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.250% | 5/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.442% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 5.802% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.000% | 10/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.300% | 8/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.500% | 1/26/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 5.834% | 10/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 3.400% | 2/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 5.250% | 12/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.450% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;1875 | &nbsp;&nbsp;&nbsp; 1766 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 3.450% | 4/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 4.500% | 12/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.300% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 437 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 4.588% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 4.338% | 5/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 993 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 3.650% | 3/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 3.932% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 4.375% | 1/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 289 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 2.852% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 5.200% | 5/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; 593 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 5.304% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 497 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 7.325% | 11/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 4.337% | 1/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 4.836% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.501% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 316 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 7.385% | 11/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 390 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 4.972% | 5/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 471 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.088% | 6/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 2.645% | 6/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.746% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 7.437% | 11/2/33 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp; 1184 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 3.564% | 9/23/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.250% | 8/17/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 4.950% | 1/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 5.750% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 4.400% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 4.200% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 662 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 4.250% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 2.850% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 488 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 3.850% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp; 431 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Inc. | 3.125% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 696 |
|  | &nbsp;&nbsp;&nbsp;BGC Partners Inc. | 3.750% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | 3.200% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | 3.250% | 4/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | 2.400% | 4/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 324 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | 2.100% | 2/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 482 |
|  | &nbsp;&nbsp;&nbsp;Blackstone Private Credit Fund | 2.625% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 248 |
|  | &nbsp;&nbsp;&nbsp;Blackstone Private Credit Fund | 3.250% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Blackstone Secured Lending Fund | 2.750% | 9/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 438 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 3.052% | 1/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;BPCE SA | 4.000% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;BPCE SA | 3.375% | 12/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Brighthouse Financial Inc. | 4.700% | 6/22/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Corp. | 4.000% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 3.900% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.850% | 3/29/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.350% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.700% | 9/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance LLC / Brookfield Finance Inc. | 3.450% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | 4.200% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | 4.500% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | 2.375% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 381 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 2.250% | 1/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 1.250% | 6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.500% | 6/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp; 27 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.900% | 1/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.750% | 4/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 442 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.300% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;1013 | &nbsp;&nbsp; 978 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 4.200% | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 2.636% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp; 228 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.750% | 7/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 472 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.650% | 5/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 753 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.800% | 1/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 281 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.273% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Cboe Global Markets Inc. | 3.650% | 1/12/27 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 394 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp; 374 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.850% | 5/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 0.900% | 3/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 1.150% | 5/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 445 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp; 224 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.200% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.250% | 5/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 2.750% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 4.625% | 3/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 2.300% | 5/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;Chubb Corp. | 6.000% | 5/11/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;Chubb Corp. | 6.500% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.350% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.150% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 6.700% | 5/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 4.150% | 3/13/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 4.350% | 11/3/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 304 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 2.850% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.050% | 12/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;CI Financial Corp. | 4.100% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | 6.920% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | 6.125% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.500% | 5/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 672 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.875% | 3/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.352% | 4/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;1575 | &nbsp;&nbsp; 1527 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 0.981% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.140% | 5/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.400% | 6/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1716 | &nbsp;&nbsp; 1684 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.500% | 9/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 1.281% | 11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.700% | 1/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.014% | 1/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.610% | 9/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.200% | 10/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp; 950 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.300% | 11/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.450% | 9/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp; 1175 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.887% | 1/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 444 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.070% | 2/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 902 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.658% | 5/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.668% | 7/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 827 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.125% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.520% | 10/27/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp; 528 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.980% | 3/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 429 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.976% | 11/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.666% | 1/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 410 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.412% | 3/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.572% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 6.625% | 6/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.520% | 11/3/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.057% | 1/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.785% | 3/17/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp; 515 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.910% | 5/24/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 6.270% | 11/17/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 516 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 6.125% | 8/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.878% | 1/24/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 8.125% | 7/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp; 691 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.316% | 3/26/41 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 964 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.875% | 1/30/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.650% | 7/30/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.750% | 5/18/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.650% | 7/23/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Citizens Bank NA/Providence RI | 6.064% | 10/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | 2.850% | 7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | 4.300% | 2/11/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | 2.638% | 9/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;CME Group Inc. | 2.650% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp;CME Group Inc. | 5.300% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp;CNA Financial Corp. | 3.950% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;CNA Financial Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;CNA Financial Corp. | 3.450% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;CNA Financial Corp. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;CNO Financial Group Inc. | 5.250% | 5/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 248 |
|  | &nbsp;&nbsp;&nbsp;Comerica Bank | 4.000% | 7/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 0.375% | 1/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 3.875% | 8/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 3.375% | 5/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666 | &nbsp;&nbsp; 646 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 3.750% | 7/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 5.250% | 5/24/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 5.750% | 12/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 239 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 316 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 479 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 438 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse AG | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 525 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse AG | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 537 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 3.750% | 3/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 4.550% | 4/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp; 406 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 4.875% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 3.700% | 5/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548 | &nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 4.100% | 1/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 1.686% | 3/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 6.119% | 7/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp; 1144 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 2.311% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 212 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 4.875% | 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 3.742% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 2.450% | 9/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 3.450% | 7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp; 285 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 4.650% | 9/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 3.950% | 11/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 438 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 4.500% | 1/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp;&nbsp; 415 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 6.700% | 11/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Eaton Vance Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Enstar Group Ltd. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 361 |
|  | &nbsp;&nbsp;&nbsp;Equitable Holdings Inc. | 7.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Equitable Holdings Inc. | 4.350% | 4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Equitable Holdings Inc. | 5.000% | 4/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Everest Reinsurance Holdings Inc. | 4.868% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Everest Reinsurance Holdings Inc. | 3.125% | 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 311 |
|  | &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | 4.850% | 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | 4.625% | 4/29/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | 5.625% | 8/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Financial Inc. | 3.400% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Financial Inc. | 2.450% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 379 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 4.300% | 1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 3.650% | 1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 2.375% | 1/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp; 331 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 1.707% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 3.950% | 3/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 4.772% | 7/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 8.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bank NA | 3.950% | 7/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bank NA | 3.850% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bank NA | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;First American Financial Corp. | 4.600% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;First American Financial Corp. | 2.400% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;First Republic Bank | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;First-Citizens Bank & Trust Co. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Franklin Resources Inc. | 2.950% | 8/12/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;FS KKR Capital Corp. | 4.625% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;FS KKR Capital Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;FS KKR Capital Corp. | 3.400% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 444 |
|  | &nbsp;&nbsp;&nbsp;GATX Corp. | 3.250% | 3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;GATX Corp. | 3.250% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 3.850% | 3/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 3.500% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 4.550% | 11/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 4.500% | 3/30/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Globe Life Inc. | 4.550% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Capital I | 6.345% | 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.625% | 2/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.000% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446 | &nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586 | &nbsp;&nbsp; 575 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | 1/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;1332 | &nbsp;&nbsp; 1289 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.757% | 1/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.750% | 5/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp; 799 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.272% | 9/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 529 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.250% | 10/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.750% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp; 1174 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.093% | 12/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 5.950% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 411 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.850% | 1/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 333 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.542% | 9/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.948% | 10/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp; 1178 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 2.640% | 2/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;1008 | &nbsp;&nbsp; 897 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.615% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp; 460 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.691% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 581 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.482% | 8/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 454 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.814% | 4/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.223% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 442 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.800% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp; 1122 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.992% | 1/27/32 | &nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp; 1180 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 2.650% | 10/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 631 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.102% | 2/24/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 6.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 6.750% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp; 1038 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.017% | 10/31/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 332 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.411% | 4/23/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 431 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 703 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.210% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;1030 | &nbsp;&nbsp;&nbsp; 741 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.436% | 2/24/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 5.150% | 5/22/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.750% | 10/21/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group Inc. | 4.500% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 2.800% | 8/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 5.950% | 10/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 6.100% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 4.300% | 4/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 3.600% | 8/19/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 2.900% | 9/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;HSBC Bank USA NA | 7.000% | 1/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.600% | 5/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.250% | 3/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.950% | 5/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 1289 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.803% | 3/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp; 1047 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.250% | 8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.633% | 11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 1064 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.999% | 3/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 1.645% | 4/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 903 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.900% | 5/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 429 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.099% | &nbsp;&nbsp;&nbsp;&nbsp;6/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 1550 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.292% | 9/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.336% | 11/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 260 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.375% | 11/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 1.589% | 5/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 431 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.251% | 11/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 628 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.041% | 3/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 5.210% | 8/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp; 785 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.390% | 11/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.583% | 6/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.206% | 8/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.950% | 3/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.973% | 5/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 498 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.625% | 5/17/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.871% | 11/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp; 938 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.350% | 11/27/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.762% | 3/29/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 5.402% | 8/11/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 8.113% | 11/3/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 581 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 6.500% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 6.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 5.250% | 3/14/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 635 |
| &nbsp;&nbsp;&nbsp;HSBC USA Inc. | 3.500% | 6/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares Inc. | 4.443% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares Inc. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp;Huntington National Bank | 5.699% | 11/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;Huntington National Bank | 4.270% | 11/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Huntington National Bank | 4.552% | 5/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;Industrial & Commercial Bank of China Ltd. | 3.538% | 11/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 3.869% | 3/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 3.950% | 3/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 4.017% | 3/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 4.550% | 10/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.650% | 5/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.750% | 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.100% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.000% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.750% | 9/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.350% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 2.100% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp; 612 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.600% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 2.650% | 9/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.250% | 9/21/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.000% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.950% | 6/15/52 | &nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.000% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 5.200% | 6/15/62 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Invesco Finance plc | 4.000% | 1/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 446 |
| &nbsp;&nbsp;&nbsp;Invesco Finance plc | 3.750% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;Invesco Finance plc | 5.375% | 11/30/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Jackson Financial Inc. | 3.125% | 11/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Janus Henderson US Holdings Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group Inc. | 4.850% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group Inc. | 4.150% | 1/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group Inc. | 6.250% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group Inc. | 6.500% | 1/20/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.700% | 5/18/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.625% | 5/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp; 517 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.514% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp; 413 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.875% | 9/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 562 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.125% | 1/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 386 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 0.563% | 2/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.220% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 583 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 0.824% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 793 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 0.969% | 6/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 350 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.900% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.301% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 659 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.561% | 12/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 1203 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.546% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp; 650 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.083% | 4/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 464 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.200% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.950% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp; 816 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.125% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.960% | 1/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 477 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.578% | 4/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.470% | 9/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.625% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 929 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.782% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 585 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.540% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.509% | 1/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.005% | 4/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.069% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.203% | 7/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.452% | 12/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.702% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 269 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.565% | 6/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.739% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1260 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.493% | 3/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp; 982 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.522% | 4/22/31 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1636 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.956% | 5/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.764% | 11/19/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.580% | 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.963% | 1/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp; 813 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.717% | 9/14/33 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 983 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 6.400% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 488 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.882% | 7/24/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.500% | 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 647 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.109% | 4/22/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.600% | 7/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.157% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.625% | 8/16/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.260% | 2/22/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.032% | 7/24/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 397 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.964% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 783 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.897% | 1/23/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.109% | 4/22/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 332 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.328% | 4/22/52 | &nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp;Kemper Corp. | 4.350% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;KeyBank NA | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403 | &nbsp;&nbsp; 388 |
| &nbsp;&nbsp;&nbsp;KeyBank NA | 5.850% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 4.150% | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 4.100% | 4/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 570 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 2.550% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;Lazard Group LLC | 3.750% | 2/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Lazard Group LLC | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Lazard Group LLC | 4.500% | 9/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Legg Mason Inc. | 4.750% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Legg Mason Inc. | 5.625% | 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 3.625% | 12/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 3.050% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 289 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 6.300% | 10/9/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 7.000% | 6/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.050% | 8/16/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 894 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.900% | 3/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.582% | 12/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.511% | 3/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.650% | 3/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 550 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.716% | 8/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.750% | 1/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 | &nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.750% | 3/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.375% | 3/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.550% | 8/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.574% | 11/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 7.953% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 5.300% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 385 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.344% | &nbsp;&nbsp;&nbsp;&nbsp;1/9/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | 4.125% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Manufacturers & Traders Trust Co. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. | 4.061% | 2/24/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 3.500% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 3.350% | 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 4.300% | 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 5.000% | 5/20/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 4.150% | 9/17/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 3.500% | 3/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 3.750% | 3/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 2.250% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp; 581 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 4.750% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 4.350% | 1/30/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Mercury General Corp. | 4.400% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 3.600% | 4/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 3.600% | 11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.550% | 3/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 492 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 6.500% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 6.375% | 6/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp; 607 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.125% | 8/13/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.875% | 11/13/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.721% | 12/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 6.400% | 12/15/66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.527% | 9/13/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.407% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.801% | 7/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.777% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 1.412% | 7/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp; 1816 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 5.063% | 9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 502 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.757% | 9/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.677% | 2/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 473 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 1.538% | 7/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.287% | 7/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.341% | 1/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.961% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 4.050% | 9/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 5.354% | 9/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.741% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.195% | 7/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.559% | 2/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.048% | 7/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.852% | 1/19/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 4.315% | 4/19/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 5.133% | 7/20/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 478 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 4.286% | 7/26/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.751% | 7/18/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.839% | 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.555% | 9/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 3.663% | 2/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 1.554% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 4.018% | &nbsp;&nbsp;&nbsp;&nbsp;3/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 4.254% | 9/11/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 3.153% | 7/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 428 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.869% | 9/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.172% | 5/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.875% | 4/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.700% | 10/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; 596 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.620% | 4/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.790% | 5/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.000% | 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 322 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.164% | 10/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 644 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 5.000% | 11/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 648 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.875% | 1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.188% | 4/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 928 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.125% | 7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 653 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;1796 | &nbsp;&nbsp; 1870 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966 | &nbsp;&nbsp; 939 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.138% | 10/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 511 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.985% | 12/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.625% | 1/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.950% | 4/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.593% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.475% | 1/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 444 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.210% | 4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.591% | 7/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp; 859 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.296% | 10/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 515 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.772% | 1/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 526 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.431% | 1/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.699% | 1/22/31 | &nbsp;&nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp; 1448 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.622% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 525 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.794% | 2/13/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.928% | 4/28/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.239% | 7/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.511% | 10/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.943% | 1/21/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.342% | 10/18/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 785 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.971% | 7/22/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.457% | 4/22/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.217% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.375% | 7/24/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 654 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.300% | 1/27/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 553 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.802% | 1/25/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp; 584 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Domestic Holdings Inc. | 3.800% | 8/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Domestic Holdings Inc. | 4.500% | 6/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 3.850% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 1.650% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 2.500% | 12/21/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 3.250% | 4/28/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 5.132% | 11/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 3.375% | 1/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 2.500% | 7/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Natwest Group plc | 4.892% | 5/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 943 |
| &nbsp;&nbsp;&nbsp;Natwest Group plc | 5.076% | 1/27/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Natwest Group plc | 4.445% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 636 |
| &nbsp;&nbsp;&nbsp;NatWest Group plc | 7.472% | 11/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;NatWest Group plc | 5.516% | 9/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.648% | 1/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 5.099% | &nbsp;&nbsp;&nbsp;&nbsp;7/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 1.851% | 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.329% | 1/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 5.386% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.172% | 7/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 5.605% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 3.103% | 1/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 333 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.679% | 7/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.608% | 7/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 3.950% | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 4.000% | 5/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Oaktree Specialty Lending Corp. | 3.500% | 2/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 4.875% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 3.875% | 8/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 3.850% | 6/11/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;ORIX Corp. | 3.250% | 12/4/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;ORIX Corp. | 3.700% | 7/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 5.250% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 4.000% | 3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 3.750% | 7/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 3.400% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp; 214 |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 2.625% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;PartnerRe Finance B LLC | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;People's United Bank NA | 4.000% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.300% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp; 687 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 2.950% | 2/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.100% | 10/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.250% | 1/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 4.050% | 7/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 2.700% | 10/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 3.500% | 1/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 3.900% | 4/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 5.671% | 10/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 3.150% | 5/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 420 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 3.450% | 4/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 458 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 2.550% | 1/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 361 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 4.626% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 6.037% | 10/28/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 3.125% | 5/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 3.400% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 3.100% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 4.625% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 4.350% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 4.300% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 2.450% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 4.350% | 4/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 4.125% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 4.200% | 3/15/48 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 3.950% | 3/26/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 3.700% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Prospect Capital Corp. | 3.364% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.878% | 3/27/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.750% | 7/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.700% | 12/14/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 6.625% | 12/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.000% | 3/10/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 6.625% | 6/21/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.100% | 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.200% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 4.600% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.375% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.905% | 12/7/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.700% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.935% | 12/7/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 4.350% | 2/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.700% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Prudential plc | 3.125% | 4/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | 4.950% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Regions Bank | 6.450% | 6/26/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | 2.250% | 5/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America Inc. | 3.900% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Finance Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Finance Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings Ltd. | 3.600% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 0.425% | 1/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 477 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.550% | 7/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 5.660% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.250% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 620 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.600% | 1/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 3.375% | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 4.650% | 1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp; 887 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.200% | 4/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.400% | 11/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.050% | 1/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 4.240% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 6.000% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.300% | 11/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 4.500% | 7/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp; 1100 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 3.244% | 10/5/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 833 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 4.400% | 7/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 2.490% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 1.532% | 8/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 528 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 1.673% | 6/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 339 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 3.823% | 11/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Santander UK plc | 4.000% | 3/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Santander UK plc | 2.875% | 6/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Selective Insurance Group Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;Sixth Street Specialty Lending Inc. | 3.875% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 3.100% | 5/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 397 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 3.300% | 12/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 3.550% | 8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 2.354% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 2.650% | 5/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 4.141% | 12/3/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 2.400% | 1/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 3.031% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | 4.250% | 7/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Banking Corp. | 3.950% | 1/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Banking Corp. | 3.400% | 7/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 0.508% | 1/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp; 904 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.696% | 7/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.348% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 303 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 1.474% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1367 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 0.948% | 1/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.784% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.632% | 7/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.010% | 10/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.446% | 1/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.364% | 7/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 646 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.544% | 1/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.944% | 7/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 1.902% | 9/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 413 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.040% | 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.202% | 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.750% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 1.710% | 1/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.296% | 1/12/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group | 3.500% | 1/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group | 1.800% | 10/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group | 2.100% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 4.250% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 4.500% | 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 3.950% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 0.750% | 6/12/23 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1473 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 3.250% | 3/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 392 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 2.650% | 6/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 484 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.250% | 12/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp; 768 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.450% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 3.766% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 412 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.150% | 6/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.250% | 9/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.950% | 1/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 4.108% | &nbsp;&nbsp;&nbsp;&nbsp;6/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 410 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 2.000% | 9/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 2.450% | 1/12/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 687 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 4.456% | &nbsp;&nbsp;&nbsp;&nbsp;6/8/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 380 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 6.250% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 4.300% | 8/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 4.000% | 5/30/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 2.550% | 4/27/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Trinity Acquisition plc | 4.400% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 489 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 2.150% | 12/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 3.625% | 9/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 481 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 3.300% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 422 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 3.875% | 3/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.887% | &nbsp;&nbsp;&nbsp;&nbsp;6/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 420 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 4.916% | 7/28/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UBS Group AG | 3.126% | 8/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Unum Group | 4.000% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Unum Group | 5.750% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Unum Group | 4.500% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.700% | 1/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 491 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.950% | 11/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.100% | 4/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 2.375% | 7/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249 | &nbsp;&nbsp; 230 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 5.727% | 10/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 535 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.150% | 4/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.900% | 4/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.000% | 7/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 2.677% | 1/27/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 4.967% | 7/22/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 5.850% | 10/21/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 2.491% | 11/3/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;US Bank NA | 2.050% | 1/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;US Bank NA | 2.800% | 1/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 602 |
|  | &nbsp;&nbsp;&nbsp;Voya Financial Inc. | 3.650% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Voya Financial Inc. | 5.700% | 7/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Voya Financial Inc. | 4.800% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 33 |
|  | &nbsp;&nbsp;&nbsp;Voya Financial Inc. | 4.700% | 1/23/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.750% | 1/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 1.654% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 2/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 407 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 0.805% | 5/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp; 360 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.406% | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 568 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.164% | 2/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 4/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp; 1193 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.908% | 4/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 389 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp; 701 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.540% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 270 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 10/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 624 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.300% | 7/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 457 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.584% | 5/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 463 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.808% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp; 950 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.150% | 1/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.879% | 10/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp; 1105 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.478% | &nbsp;&nbsp;&nbsp;&nbsp;4/4/31 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp; 1172 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.897% | 7/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp; 923 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.068% | 4/30/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 429 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 5.375% | 11/2/43 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 931 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 5.606% | 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 582 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.650% | 11/4/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.900% | 11/17/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.400% | 6/14/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.750% | 12/7/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 5.013% | &nbsp;&nbsp;&nbsp;&nbsp;4/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1557 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.611% | 4/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA | 5.950% | 8/26/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA | 5.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA | 6.600% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 3.650% | 5/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 3.300% | 2/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 1.019% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.350% | 2/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.850% | 5/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.700% | 8/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 1.953% | 11/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.650% | 1/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.894% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 4.322% | 11/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 5.405% | 8/10/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 4.110% | 7/24/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.668% | 11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 3.020% | 11/18/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 4.421% | 7/24/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.963% | 11/16/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 3.600% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 4.500% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 2.950% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 5.050% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 3.875% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;XLIT Ltd. | 5.500% | 3/31/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | 3.250% | 10/29/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205 |
|  |  |  |  | **313380** |
| **Health Care (2.8%)** | **Health Care (2.8%)** | **Health Care (2.8%)** | **Health Care (2.8%)** | **Health Care (2.8%)** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 3.750% | 11/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 1.150% | 1/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 1.400% | 6/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 4.750% | 11/30/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 5.300% | 5/27/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 4.750% | 4/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 4.900% | 11/30/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 685 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 2.800% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.850% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 2.600% | 11/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 718 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.600% | 5/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 2.950% | 11/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 690 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.250% | 11/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.200% | 11/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;1130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1019 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.550% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.500% | 5/14/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.300% | 5/14/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.050% | 11/21/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 707 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.625% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.400% | 11/6/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.850% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.750% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.700% | 5/14/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.450% | 5/14/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.875% | 11/14/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.250% | 11/21/49 | &nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 862 |
| &nbsp;&nbsp;&nbsp;Adventist Health System | 2.952% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Adventist Health System | 3.630% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 3.829% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 2.211% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 4.272% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 3.387% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 3.008% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Aetna Inc. | 3.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 6.625% | 6/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 6.750% | 12/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 4.500% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 4.125% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 3.875% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 232 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | 3.050% | 9/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | 2.750% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/4/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;AHS Hospital Corp. | 5.024% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;AHS Hospital Corp. | 2.780% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Allina Health System | 3.887% | 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 3.400% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 3.450% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 2.700% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 249 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 4.300% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.625% | 5/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 491 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 1.900% | 2/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 2.200% | 2/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 1.650% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.050% | 8/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 2.000% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 351 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.350% | 2/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 436 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.150% | 2/21/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 425 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 2.800% | 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.950% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 5.150% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 376 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.375% | 2/21/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 507 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.663% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.000% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp; 518 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.200% | 2/22/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 401 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 2.770% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 3.500% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 463 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 3.350% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 2.375% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 2.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp; 440 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 2.550% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 544 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.100% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 5.950% | 12/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 5.850% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 6.375% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.625% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.650% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp; 702 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 5.100% | 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.375% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.550% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.850% | 8/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 25 |
|  | &nbsp;&nbsp;&nbsp;Ascension Health | 2.532% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 300 |
|  | &nbsp;&nbsp;&nbsp;Ascension Health | 3.106% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Ascension Health | 3.945% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 146 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ascension Health | 4.847% | 11/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 0.700% | 5/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 1.200% | 5/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 1.750% | 5/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 2.250% | 5/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 3.375% | 11/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 0.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 440 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 4.000% | 1/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 6.450% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 508 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 4.000% | 9/18/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 251 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 4.375% | 11/16/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 3.000% | 5/28/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Banner Health | 2.338% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Banner Health | 3.181% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Baptist Healthcare System Obligated Group | 3.540% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 178 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Baxalta Inc. | 4.000% | 6/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Baxalta Inc. | 5.250% | 6/23/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 1.322% | 11/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 1.915% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 666 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 2.272% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 1.730% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 229 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 2.539% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 398 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 3.500% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 3.132% | 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;Baylor Scott & White Holdings | 1.777% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;Baylor Scott & White Holdings | 4.185% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Baylor Scott & White Holdings | 2.839% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 231 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 3.734% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 1.957% | 2/11/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 4.875% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 22 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 4.685% | 12/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 4.669% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;BHSH System Obligated Group | 3.487% | 7/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Biogen Inc. | 4.050% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 340 |
|  | &nbsp;&nbsp;&nbsp;Biogen Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 325 |
|  | &nbsp;&nbsp;&nbsp;Biogen Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Bio-Rad Laboratories Inc. | 3.700% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Bon Secours Mercy Health Inc. | 4.302% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Bon Secours Mercy Health Inc. | 3.464% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Bon Secours Mercy Health Inc. | 3.205% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 514 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 7.375% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 58 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 2.900% | 7/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 656 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.200% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 1.125% | 11/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 427 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.450% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.900% | 2/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.400% | 7/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 1.450% | 11/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 2.950% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 262 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.125% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 339 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.625% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.350% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 221 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.550% | 2/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp; 212 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.250% | 10/26/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 605 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 2.550% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 316 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.700% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp; 562 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.900% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 3.079% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 3.750% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 4.600% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 4.500% | 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 4.900% | 9/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 4.368% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 4.250% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp; 445 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 2.450% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 4.625% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp; 354 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 3.375% | 2/15/30 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 3.000% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp; 333 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 309 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Children's Health System of Texas | 2.511% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;Children's Hospital Corp. | 4.115% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Children's Hospital Corp. | 2.585% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 30 |
|  | &nbsp;&nbsp;&nbsp;Children's Hospital Medical Center | 4.268% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
|  | &nbsp;&nbsp;&nbsp;CHRISTUS Health | 4.341% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.500% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.125% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467 | &nbsp;&nbsp; 457 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.500% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 384 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 7.875% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.375% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; 588 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 2.400% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 2.375% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.800% | 8/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.200% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 6.125% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.800% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 360 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.875% | 10/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.900% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp; 495 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.400% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;City of Hope | 5.623% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;City of Hope | 4.378% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Cleveland Clinic Foundation | 4.858% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 2.760% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 2.782% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 411 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 4.350% | 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 3.817% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 4.187% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Community Health Network Inc. | 3.099% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Cottage Health Obligated Group | 3.304% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.375% | 8/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 268 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.875% | 7/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp; 559 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp; 389 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.000% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 420 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 1.300% | 8/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 339 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.300% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677 | &nbsp;&nbsp; 655 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.250% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 322 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 1.750% | 8/21/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 1.875% | 2/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 274 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.875% | 7/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.780% | 3/25/38 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp; 916 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 6.125% | 9/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 5.300% | 12/5/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 5.125% | 7/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 478 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 5.050% | 3/25/48 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1264 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | 3.350% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | 4.375% | 9/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | 2.600% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;Dartmouth-Hitchcock Health | 4.178% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;DENTSPLY SIRONA Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;DH Europe Finance II Sarl | 2.200% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;DH Europe Finance II Sarl | 2.600% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;DH Europe Finance II Sarl | 3.250% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;Dignity Health | 3.812% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Dignity Health | 4.500% | 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Dignity Health | 5.267% | 11/1/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Duke University Health System Inc. | 3.920% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp. | 4.300% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | 5.500% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | 3.375% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | 2.500% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 153 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.550% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.600% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 252 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.650% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 203 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.905% | 11/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 555 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 489 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 5.650% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp; 411 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 2.800% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 3.625% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 | &nbsp;&nbsp; 590 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 3.875% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 360 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 5.375% | 4/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 6.375% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 619 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 4.200% | 3/18/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital plc | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
|  | &nbsp;&nbsp;&nbsp;Hackensack Meridian Health Inc. | 2.675% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Hackensack Meridian Health Inc. | 4.211% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Hackensack Meridian Health Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hartford HealthCare Corp. | 3.447% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.000% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 423 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.250% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 321 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.500% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.125% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 370 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 430 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 2.375% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 311 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 3.625% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.125% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.375% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.500% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 378 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.250% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 342 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 3.500% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 129 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.625% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 3.850% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 1.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 3.950% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 132 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 4.625% | 12/1/42 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 4.950% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 244 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 3.950% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 32 |
|  | &nbsp;&nbsp;&nbsp;IHC Health Services Inc. | 4.131% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Illumina Inc. | 2.550% | 3/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Indiana University Health Inc. Obligated Group | 3.970% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;Iowa Health System | 3.665% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Johns Hopkins Health System Corp. | 3.837% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.625% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.900% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 1.300% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 303 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.950% | 5/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.375% | 12/5/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 267 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 5.950% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.850% | 5/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.500% | 12/5/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 251 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 2.810% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 181 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 3.266% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 3.002% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | 6.875% | 3/11/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Koninklijke Philips NV | 5.000% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 2.300% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 1.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 2.950% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Mass General Brigham Inc. | 3.192% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Mass General Brigham Inc. | 3.342% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Mayo Clinic | 3.774% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Mayo Clinic | 4.128% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Mayo Clinic | 3.196% | 11/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;McKesson Corp. | 3.796% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;McKesson Corp. | 0.900% | 12/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 445 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;MedStar Health Inc. | 3.626% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Medtronic Inc. | 4.375% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp; 485 |
|  | &nbsp;&nbsp;&nbsp;Medtronic Inc. | 4.625% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;Memorial Health Services | 3.447% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Memorial Sloan-Kettering Cancer Center | 2.955% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Memorial Sloan-Kettering Cancer Center | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Memorial Sloan-Kettering Cancer Center | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 2.750% | 2/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp; 709 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 1.700% | 6/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 349 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 1.450% | 6/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 2.150% | 12/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 368 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 6.500% | 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 3.600% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 4.150% | 5/18/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 3.700% | 2/10/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 432 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 2.750% | 12/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 471 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 2.900% | 12/10/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Methodist Hospital | 2.705% | 12/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 187 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Montefiore Obligated Group | 5.246% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 112 |
|  | &nbsp;&nbsp;&nbsp;Mount Sinai Hospitals Group Inc. | 3.391% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 337 |
|  | &nbsp;&nbsp;&nbsp;MultiCare Health System | 2.803% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Mylan Inc. | 5.400% | 11/29/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Mylan Inc. | 5.200% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;New York and Presbyterian Hospital | 4.024% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;New York and Presbyterian Hospital | 4.063% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;New York and Presbyterian Hospital | 2.606% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;New York and Presbyterian Hospital | 3.954% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;Northwell Healthcare Inc. | 3.979% | 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Northwell Healthcare Inc. | 4.260% | 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Northwell Healthcare Inc. | 3.809% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Novant Health Inc. | 2.637% | 11/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 392 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 1.750% | 2/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 2.000% | 2/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 478 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 3.100% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 2.200% | 8/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp; 348 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 3.700% | 9/21/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 348 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 4.000% | 11/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 199 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 2.750% | 8/14/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;NY Society for Relief of Ruptured & Crippled Maintaining Hospital Special Surgery | 2.667% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 6 |
|  | &nbsp;&nbsp;&nbsp;NYU Langone Hospitals | 4.784% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;NYU Langone Hospitals | 4.368% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/47 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;NYU Langone Hospitals | 3.380% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;OhioHealth Corp. | 3.042% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Orlando Health Obligated Group | 4.089% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;PeaceHealth Obligated Group | 4.787% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;PeaceHealth Obligated Group | 3.218% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | 0.850% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | 1.900% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | 3.625% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 2.950% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 3.600% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 3.450% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 353 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 263 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 1.700% | 5/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 1.750% | 8/18/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.000% | 12/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.100% | 9/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 3.900% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 7.200% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 516 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 2.550% | 5/28/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.300% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.400% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.125% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 221 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.200% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 313 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.000% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 2.700% | 5/28/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;Pharmacia LLC | 6.600% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 2.746% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 2.532% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 3.744% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 3.930% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 3.500% | 3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 4.200% | 6/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 2.950% | 6/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 2.800% | 6/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 5.750% | 1/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 12 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 4.700% | 3/30/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals Inc. | 1.750% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 269 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Rush Obligated Group | 3.922% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;RWJ Barnabas Health Inc. | 3.949% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;RWJ Barnabas Health Inc. | 3.477% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 18 |
|  | &nbsp;&nbsp;&nbsp;Sanofi | 3.625% | 6/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;Seattle Children's Hospital | 2.719% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |
|  | &nbsp;&nbsp;&nbsp;Shire Acquisitions Investments Ireland DAC | 3.200% | 9/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 541 |
|  | &nbsp;&nbsp;&nbsp;Smith & Nephew plc | 2.032% | 10/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;SSM Health Care Corp. | 3.823% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Stanford Health Care | 3.795% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 3.375% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 1.150% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 3.375% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 3.500% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 4.375% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Sutter Health | 1.321% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 454 |
|  | &nbsp;&nbsp;&nbsp;Sutter Health | 3.695% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Sutter Health | 4.091% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co. Ltd. | 5.000% | 11/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 402 |
|  | &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co. Ltd. | 3.025% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 294 |
|  | &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co. Ltd. | 3.175% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co. Ltd. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Texas Health Resources | 2.328% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 1.215% | 10/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 2.000% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 809 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 2.800% | 10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 184 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Trinity Health Corp. | 4.125% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.500% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.375% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 289 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.000% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.750% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp; 930 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.150% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 202 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.700% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.100% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.450% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.375% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.700% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.950% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.250% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 384 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.875% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.875% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.300% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.000% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp; 625 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.300% | 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 541 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.200% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp; 713 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.350% | 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 388 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.625% | 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 6.500% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 6.625% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 6.875% | 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp; 287 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.500% | 8/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.750% | 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.950% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.050% | 5/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.625% | 11/15/41 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.375% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.950% | 10/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.250% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.750% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.200% | 1/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.250% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.250% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 262 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.450% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.700% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.250% | 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 541 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.875% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 217 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.875% | 8/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp; 330 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.125% | 5/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 6.050% | 2/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Universal Health Services Inc. | 2.650% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 239 |
|  | &nbsp;&nbsp;&nbsp;UPMC | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Utah Acquisition Sub Inc. | 3.950% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889 | &nbsp;&nbsp; 831 |
|  | &nbsp;&nbsp;&nbsp;Utah Acquisition Sub Inc. | 5.250% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | 1.650% | 6/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | 2.300% | 6/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 150 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | 4.000% | 6/22/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;WakeMed | 3.286% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Willis-Knighton Medical Center | 4.813% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 6.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 305 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 6.000% | 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp; 416 |
|  | &nbsp;&nbsp;&nbsp;Zeneca Wilmington Inc. | 7.000% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 1.450% | 11/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 3.050% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 2.600% | 11/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 5.750% | 11/30/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 4.450% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 4.500% | 11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 3.000% | 9/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 3.900% | 8/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 2.000% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 5.600% | 11/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 3.950% | 9/12/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 4.450% | 8/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
|  |  |  |  |  | **111654** |
| **Industrials (2.1%)** | **Industrials (2.1%)** | **Industrials (2.1%)** | **Industrials (2.1%)** | **Industrials (2.1%)** | **Industrials (2.1%)** |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.250% | 2/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.000% | 2/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.650% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.250% | 9/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.875% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.375% | 8/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.125% | 9/19/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.625% | 10/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 4.000% | 9/14/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.250% | 8/26/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.700% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Allegion plc | 3.500% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Allegion US Holding Co. Inc. | 3.550% | 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;American Airlines Class A Series 2021-1 Pass Through Trust | 2.875% | 1/11/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2015-2 Pass Through Trust | 3.600% | 3/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2016-1 Pass Through Trust | 3.575% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2016-3 Pass Through Trust | 3.000% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2017-1 Pass Through Trust | 3.650% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2019-1 Pass Through Trust | 3.150% | 8/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 2.800% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 2.200% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Block Financial LLC | 5.250% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Block Financial LLC | 3.875% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;BNSF Funding Trust I | 6.613% | 12/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 4.508% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 623 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 1.875% | 6/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 1.433% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.850% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 789 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.196% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1091 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.250% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 5.040% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 356 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.450% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 678 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 6.125% | 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 6.625% | 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 6.875% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 5.875% | 2/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 5.705% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 704 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.375% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.850% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Boeing Co. | 5.805% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp; 493 |
| &nbsp;&nbsp;&nbsp;Boeing Co. | 3.825% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Boeing Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Boeing Co. | 5.930% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp; 675 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.250% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 6.200% | 8/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 5.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.400% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.450% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.125% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.050% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp; 314 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.150% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.550% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.050% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 2.875% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 2.950% | 11/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 6.200% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 6.375% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;8/2/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 7.125% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 2.450% | 12/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 5.950% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 3.000% | 12/2/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 376 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 3.100% | 12/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 6.125% | 9/15/15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.242% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 377 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.493% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.722% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 506 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.700% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 3.377% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 3.577% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 0.950% | 1/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 2.850% | 5/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 0.600% | 9/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 2.150% | 11/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 3.250% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277 | &nbsp;&nbsp; 269 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 4.900% | 1/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 1.450% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 3.650% | 8/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 0.800% | 11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 1.150% | 9/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 3.600% | 8/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 3.400% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 2.600% | 9/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 6.050% | 8/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 5.200% | 5/27/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 3.803% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 3.250% | 9/19/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 4.750% | 5/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. No. 2 | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial Capital LLC | 4.200% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial Capital LLC | 1.450% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial NV | 3.850% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Continental Airlines Class A Series 2012-2 Pass Through Trust | 4.000% | 4/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Crane Co. | 4.200% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.350% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 334 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.250% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 2.400% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.100% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 6.220% | 4/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 5.500% | 4/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.750% | 5/30/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.100% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.500% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.350% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.250% | 11/1/66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Cummins Inc. | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 361 |
|  | &nbsp;&nbsp;&nbsp;Cummins Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 2.750% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 5.375% | 10/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 7.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/7/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 3.750% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Delta Air Lines Class AA Series 2019-1 Pass Through Trust | 3.204% | 10/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Delta Air Lines Class AA Series 2020-1 Pass Through Trust | 2.000% | 12/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp; 109 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Delta Air Lines Inc. / SkyMiles IP Ltd. | 4.750% | 10/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Dover Corp. | 3.150% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Dover Corp. | 2.950% | 11/4/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 3.103% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 4.150% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 4.150% | 11/2/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 4.700% | 8/23/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 2.000% | 12/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 1.950% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 2.200% | 12/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 2.750% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 2.800% | 12/21/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.100% | 4/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.750% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 212 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.400% | 1/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.050% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.950% | 10/17/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 5.250% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 44 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;FedEx Corp. Class AA Series 2020-1 Pass Through Trust | 1.875% | 8/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;Fortive Corp. | 3.150% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;Fortive Corp. | 4.300% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;GE Capital Funding LLC | 3.450% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 428 |
|  | &nbsp;&nbsp;&nbsp;GE Capital Funding LLC | 4.550% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 2.375% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 305 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.500% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 2.625% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.750% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.600% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;General Electric Co. | 5.875% | 1/14/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 571 |
|  | &nbsp;&nbsp;&nbsp;GXO Logistics Inc. | 2.650% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 2.300% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 408 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 1.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 2.500% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 1.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 218 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 4.950% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 2.700% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 827 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 5.000% | 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 5.700% | 3/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Hubbell Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Hubbell Inc. | 3.150% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;Hubbell Inc. | 3.500% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | 3.483% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | 2.043% | 8/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 181 |
|  | &nbsp;&nbsp;&nbsp;IDEX Corp. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | 2.650% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | 4.875% | 9/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;JB Hunt Transport Services Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JetBlue Class A Series 2020-1 Pass Through Trust | 4.000% | 5/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 115 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JetBlue Class AA Series 2019-1 Pass Through Trust | 2.750% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 0.900% | 1/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.650% | 6/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 0.625% | 9/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;1/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 1.250% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 468 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.450% | 3/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.400% | 9/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 0.700% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 267 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.650% | 6/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 1.050% | 6/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.250% | 9/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 4.150% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.800% | 7/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;1/9/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 3.900% | 2/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 6.000% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 40 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 5.125% | 9/14/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp; 13 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 4.500% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc / Tyco Fire & Security Finance SCA | 2.000% | 9/16/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 2.875% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 4.300% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 4.950% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Kennametal Inc. | 4.625% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Keysight Technologies Inc. | 4.550% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Keysight Technologies Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Keysight Technologies Inc. | 3.000% | 10/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;Kirby Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 273 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 3.950% | 5/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 3.832% | 4/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 3.850% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 4.400% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 4.854% | 4/27/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 5.054% | 4/27/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Legrand France SA | 8.500% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Lennox International Inc. | 3.000% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Lennox International Inc. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3.550% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.100% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3.900% | 6/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.250% | 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.500% | 5/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 6.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 325 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.070% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.700% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 2.800% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.090% | 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.150% | 6/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.700% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.300% | 6/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.900% | 11/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp; 145 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd. | 6.500% | 6/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 448 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.850% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 2.900% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 290 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 7.800% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 66 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 2.550% | 11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.000% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.837% | 10/1/41 | &nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.450% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.650% | 1/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.150% | 2/28/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.100% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.400% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.050% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.050% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.155% | 5/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.100% | 5/15/21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 2.930% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 264 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 3.250% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 5.050% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 4.030% | 10/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp; 315 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Nvent Finance Sarl | 4.550% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Oshkosh Corp. | 4.600% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Oshkosh Corp. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 2.293% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 2.565% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 3.112% | 2/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 295 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 3.362% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;PACCAR Financial Corp. | 2.150% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;PACCAR Financial Corp. | 1.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 2.700% | 6/14/24 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 3.650% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 3.300% | 11/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 4.250% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 3.250% | 6/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 6.250% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 155 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 4.450% | 11/21/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 4.000% | 6/14/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Precision Castparts Corp. | 3.250% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Precision Castparts Corp. | 4.375% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Quanta Services Inc. | 2.900% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.200% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.950% | 8/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.500% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 210 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 7.200% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 27 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.125% | 11/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp; 515 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 2.375% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 150 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 6.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 6.125% | 7/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.450% | 11/16/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.700% | 12/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 607 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.800% | 12/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.150% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.750% | 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.350% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.625% | 11/16/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 317 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp; 126 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 2.820% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.030% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 2.500% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 0.875% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 446 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 6.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 5.700% | 5/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | 1.750% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | 2.800% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 3.650% | 3/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 2.900% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Snap-on Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Snap-on Inc. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Snap-on Inc. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 602 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 3.000% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 5.125% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 470 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 3.450% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 2.625% | 2/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Spirit Airlines Class A Series 2015-1 Pass Through Trust | 4.100% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 13 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | 5.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | 4.850% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | 4.000% | 3/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 344 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | 4.000% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | 3.650% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | 3.900% | 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Timken Co. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Timken Co. | 4.500% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Global Holding Co Ltd. | 5.750% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Luxembourg Finance SA | 3.550% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 365 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Luxembourg Finance SA | 3.500% | 3/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Luxembourg Finance SA | 3.800% | 3/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Luxembourg Finance SA | 4.500% | 3/21/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Trimble Inc. | 4.750% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp; 92 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Trimble Inc. | 4.900% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 3.125% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 7.125% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.646% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.250% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.750% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp; 463 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.800% | 2/14/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.891% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 396 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.600% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.950% | 3/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/52 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.500% | 2/14/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 453 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.950% | 8/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.839% | 3/20/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp; 300 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.973% | 9/16/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.799% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp; 395 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2013-1 Pass Through Trust | 4.300% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 42 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2014-1 Pass Through Trust | 4.000% | 10/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 54 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2016-1 Pass Through Trust | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 31 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2016-2 Pass Through Trust | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2020-1 Pass Through Trust | 5.875% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp; 537 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2015-1 Pass Through Trust | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 107 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2016-1 Pass Through Trust | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; 260 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2016-2 Pass Through Trust | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2019-1 Pass Through Trust | 4.150% | 2/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2019-2 Pass Through Trust | 2.700% | 11/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class B Series 2020-1 Pass Through Trust | 4.875% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 2.800% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 2.400% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.400% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 6.200% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 5.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp; 255 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 4.875% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.625% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.400% | 11/15/46 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 4.250% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 313 |
|  | &nbsp;&nbsp;&nbsp;Valmont Industries Inc. | 5.000% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Valmont Industries Inc. | 5.250% | 10/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 4.250% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 2.200% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 2.950% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 0.750% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 3.150% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 1.500% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 2.500% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 125 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | 4.400% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | 3.200% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | 4.950% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;WW Grainger Inc. | 1.850% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;WW Grainger Inc. | 3.750% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;WW Grainger Inc. | 4.200% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Xylem Inc. | 3.250% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Xylem Inc. | 1.950% | 1/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Xylem Inc. | 2.250% | 1/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Xylem Inc. | 4.375% | 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
|  |  |  |  | **80781** |
| **Materials (0.8%)** | **Materials (0.8%)** | **Materials (0.8%)** | **Materials (0.8%)** | **Materials (0.8%)** |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | 3.350% | 7/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | 2.050% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | 2.700% | 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | 2.800% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Albemarle Corp. | 5.450% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Albemarle Corp. | 5.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America Inc. | 4.000% | 5/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America Inc. | 3.100% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America Inc. | 2.630% | 6/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America Inc. | 2.690% | 5/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;AngloGold Ashanti Holdings plc | 3.375% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;AngloGold Ashanti Holdings plc | 3.750% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 4.550% | 3/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 6.550% | 11/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 4.250% | 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 6.800% | 11/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 7.000% | 10/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | 4.875% | 12/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Barrick Gold Corp. | 6.450% | 10/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Barrick North America Finance LLC | 5.700% | 5/30/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 453 |
| &nbsp;&nbsp;&nbsp;Barrick North America Finance LLC | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Berry Global Inc. | 0.950% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Berry Global Inc. | 1.570% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp;BHP Billiton Finance USA Ltd. | 4.125% | 2/24/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;BHP Billiton Finance USA Ltd. | 5.000% | 9/30/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 558 |
| &nbsp;&nbsp;&nbsp;Cabot Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos. Inc. | 3.500% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos. Inc. | 3.750% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos. Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;Celanese U.S. Holdings LLC | 6.330% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Celanese U.S. Holdings LLC | 6.379% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 5.900% | &nbsp;&nbsp;&nbsp;&nbsp;7/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 6.050% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 6.165% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp;Celulosa Arauco y Constitucion SA | 3.875% | 11/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;Celulosa Arauco y Constitucion SA | 5.500% | 11/2/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;CF Industries Inc. | 5.150% | 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;CF Industries Inc. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;CF Industries Inc. | 5.375% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 4.550% | 11/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 4.800% | 11/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 2.100% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 4.250% | 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 9.400% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 5.250% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 4.625% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 5.550% | 11/30/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 6.900% | 5/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | 4.493% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | 4.725% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | 5.319% | 11/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | 5.419% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 358 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 3.800% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 4.650% | 10/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 2.700% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 3.250% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 5.250% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 4.800% | 3/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 1.300% | 1/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 2.700% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 2.750% | 8/18/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;EI du Pont de Nemours and Co. | 1.700% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;EI du Pont de Nemours and Co. | 2.300% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Fibria Overseas Finance Ltd. | 4.000% | 1/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;FMC Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;FMC Corp. | 3.200% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;FMC Corp. | 3.450% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;FMC Corp. | 4.500% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.550% | 11/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 5.400% | 11/14/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 5.450% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 8.000% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 7.375% | 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 8.875% | 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Huntsman International LLC | 2.950% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc. | 4.450% | 9/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc. | 5.000% | 9/26/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | 5.000% | 9/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | 4.800% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | 4.400% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Kinross Gold Corp. | 5.950% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Kinross Gold Corp. | 4.500% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Linde Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Linde Inc. | 4.700% | 12/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Linde Inc. | 1.100% | 8/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp;Linde Inc. | 3.550% | 11/7/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;LYB International Finance BV | 5.250% | 7/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC | 1.250% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC | 3.375% | 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC | 4.200% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV | 4.625% | 2/26/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 3.500% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 2.500% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 2.400% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 4.250% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 3.200% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | 4.050% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | 5.450% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | 4.875% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | 5.625% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 2.800% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 2.250% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 2.600% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 6.250% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 5.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 2.979% | 12/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.950% | 11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 4.000% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 2.950% | 5/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 4.125% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.625% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.250% | 1/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 3.400% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 3.950% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 4.300% | 7/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 4.400% | 1/30/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 3.400% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 3.000% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 4.050% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 3.050% | 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;PPG Industries Inc. | 2.400% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;PPG Industries Inc. | 2.550% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;Reliance Steel & Aluminum Co. | 1.300% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Reliance Steel & Aluminum Co. | 2.150% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Alcan Inc. | 6.125% | 12/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA Ltd. | 7.125% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA Ltd. | 2.750% | 11/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA plc | 4.750% | 3/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA plc | 4.125% | 8/21/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Rohm and Haas Co. | 7.850% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;RPM International Inc. | 3.750% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;RPM International Inc. | 4.250% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.950% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 2.950% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 2.300% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 4.000% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.300% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 2.900% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 3.875% | 4/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 7.500% | 7/27/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 6.750% | 4/16/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 5.250% | 11/8/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 5.875% | 4/23/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 2.400% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 3.450% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 3.250% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 3.250% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH | 6.000% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 399 |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH | 5.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH | 3.750% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH | 3.125% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Teck Resources Ltd. | 3.900% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Teck Resources Ltd. | 6.000% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 6.250% | 8/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 8.250% | 1/17/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 6.875% | 11/21/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 328 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 6.875% | 11/10/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 475 |
| &nbsp;&nbsp;&nbsp;Vale SA | 5.625% | 9/11/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 132 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | 4.500% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 3.600% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 3.375% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 5.000% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 3.125% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 3.375% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;WestRock MWV LLC | 7.950% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 3.000% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 4.650% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 3.375% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 4.900% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 3.000% | 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  |  |  |  | **32983** |
| **Real Estate (1.0%)** | **Real Estate (1.0%)** | **Real Estate (1.0%)** | **Real Estate (1.0%)** | **Real Estate (1.0%)** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 3.450% | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 2.750% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 3.375% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 3.000% | 5/18/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 3.550% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent LP | 2.375% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent LP | 3.375% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 5.000% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.375% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.950% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 1.600% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 1.450% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.375% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.750% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 453 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.125% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.650% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 1.500% | 1/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.950% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.800% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.900% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.100% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.700% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.300% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 4.050% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.700% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.100% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.850% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.950% | 5/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.900% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 3.350% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 3.200% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.050% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 3.900% | 10/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 4.350% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.200% | 1/15/25 | &nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 2.750% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.400% | 6/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 2.900% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;Brandywine Operating Partnership LP | 3.950% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 3.650% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 4.125% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 3.900% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 4.125% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | 2.800% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 228 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | 3.350% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;CBRE Services Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;CBRE Services Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Corporate Office Properties LP | 2.000% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 269 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 1.350% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 4.450% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.700% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.900% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.800% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.100% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.250% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.500% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 343 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 4.750% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 5.200% | 2/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.250% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 4.000% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 2.250% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 4.375% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 2.000% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 2.500% | 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust LP | 4.450% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 351 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust LP | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;EPR Properties | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;EPR Properties | 3.600% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 2.625% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.250% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.000% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 447 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.450% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 2.900% | 11/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.800% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.550% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 3.200% | 11/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 2.150% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 2.500% | 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 3.000% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 2.850% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 4.150% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 2.500% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.375% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 324 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.000% | 1/15/30 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 2.650% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 4.500% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 3.250% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 3.200% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 4.500% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 5.375% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 173 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 5.300% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 4.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 4.000% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Holdings LP | 3.625% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Healthcare Trust of America Holdings LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Healthcare Trust of America Holdings LP | 2.000% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.250% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.500% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Highwoods Realty LP | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts LP | 2.900% | 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp;Hudson Pacific Properties LP | 3.950% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Hudson Pacific Properties LP | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;Hudson Pacific Properties LP | 3.250% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Invitation Homes Operating Partnership LP | 2.300% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Invitation Homes Operating Partnership LP | 2.700% | 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 3.450% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 4.750% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 4.250% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 3.050% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 2.650% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 2.800% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 2.700% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 4.125% | 12/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;Kite Realty Group LP | 4.000% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Life Storage LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Life Storage LP | 3.875% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Life Storage LP | 4.000% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;Life Storage LP | 2.400% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;LXP Industrial Trust | 2.375% | 10/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 3.750% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 2.750% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 1.700% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 3.500% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 4.300% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 2.500% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 4.800% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 3.100% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 3.625% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Phillips Edison Grocery Center Operating Partnership I LP | 2.625% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Physicians Realty LP | 4.300% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Physicians Realty LP | 3.950% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Physicians Realty LP | 2.625% | 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;Piedmont Operating Partnership LP | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 3.250% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 2.125% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 3.375% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 3.875% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 4.000% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 2.875% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 61 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Prologis LP | 2.250% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 1.250% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 4.375% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 3.000% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Public Storage | 1.500% | 11/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Public Storage | 3.094% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Public Storage | 1.950% | 11/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Public Storage | 3.385% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Public Storage | 2.250% | 11/9/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.875% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.875% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.625% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.125% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.000% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.950% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.650% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.100% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 1.800% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.650% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 4.125% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 2.950% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 4.650% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;Rexford Industrial Realty LP | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care LP | 5.125% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care LP | 3.900% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care LP | 3.200% | 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Safehold Operating Partnership LP | 2.850% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.000% | 9/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.300% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 1.375% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 437 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.650% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.250% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 4.250% | 11/30/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.250% | 9/13/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.800% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;SITE Centers Corp. | 3.900% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;SITE Centers Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Spirit Realty LP | 3.200% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Spirit Realty LP | 2.100% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;Spirit Realty LP | 4.000% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Spirit Realty LP | 3.400% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;STORE Capital Corp. | 4.500% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;STORE Capital Corp. | 4.625% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;Sun Communities Operating LP | 2.300% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Sun Communities Operating LP | 4.200% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Tanger Properties LP | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Tanger Properties LP | 3.875% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.500% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.200% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.000% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 1.900% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.100% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.500% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 2.650% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 4.125% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.250% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 4.750% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 309 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 4.875% | 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP | 4.750% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP | 4.950% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP | 5.125% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP | 5.625% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Vornado Realty LP | 3.500% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 3.625% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 2.700% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.250% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.125% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 2.750% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 2.750% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 6.500% | 3/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | 4.000% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | 4.000% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | 7.375% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | 4.250% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
|  |  |  |  | **40624** |
| **Technology (2.5%)** | **Technology (2.5%)** | **Technology (2.5%)** | **Technology (2.5%)** | **Technology (2.5%)** |
| &nbsp;&nbsp;&nbsp;Adobe Inc. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| &nbsp;&nbsp;&nbsp;Adobe Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Adobe Inc. | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Adobe Inc. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp;Amdocs Ltd. | 2.538% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 3.500% | 12/5/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 3.450% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 1.700% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 2.800% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 2.950% | 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.850% | 5/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.800% | 9/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.750% | 1/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.125% | 5/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 829 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 0.550% | 8/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 0.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.250% | 2/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 678 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 418 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 479 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.200% | 5/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 736 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.900% | 9/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.200% | 9/11/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.250% | 8/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 393 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 4.500% | 2/23/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 4.375% | 5/13/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 4.650% | 2/23/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.750% | 11/13/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.650% | 5/11/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.550% | 8/20/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 3.900% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 5.100% | 10/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 5.850% | 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Arrow Electronics Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Arrow Electronics Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Arrow Electronics Inc. | 3.875% | 1/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Autodesk Inc. | 4.375% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Autodesk Inc. | 3.500% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Autodesk Inc. | 2.850% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Autodesk Inc. | 2.400% | 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Automatic Data Processing Inc. | 3.375% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Automatic Data Processing Inc. | 1.700% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Automatic Data Processing Inc. | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Avnet Inc. | 4.625% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Corp. / Broadcom Cayman Finance Ltd. | 3.875% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 686 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Corp. / Broadcom Cayman Finance Ltd. | 3.500% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 2.250% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.150% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp; 264 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 1.950% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.110% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp; 399 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.000% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.750% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 5.000% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.150% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 538 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 2.450% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 394 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.300% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 353 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.419% | 4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp; 523 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.469% | 4/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 | &nbsp;&nbsp; 346 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.187% | 11/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 36 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.926% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 481 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.500% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp; 501 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.750% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 349 |
|  | &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions Inc. | 3.400% | 6/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions Inc. | 2.900% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Cadence Design Systems Inc. | 4.375% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC / CDW Finance Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC / CDW Finance Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC / CDW Finance Corp. | 3.250% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;CGI Inc. | 1.450% | 9/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;CGI Inc. | 2.300% | 9/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 271 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 2.950% | 2/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 2.500% | 9/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 210 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 5.500% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 4.700% | 3/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 5.750% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 3.900% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 4.375% | 11/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 5.450% | 11/15/79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Dell Inc. | 7.100% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 32 |
|  | &nbsp;&nbsp;&nbsp;Dell Inc. | 6.500% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 4.000% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 5.850% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 203 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 6.020% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp; 1097 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 4.900% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 6.100% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 5.300% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 317 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 6.200% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 8.100% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp; 194 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 3.375% | 12/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 8.350% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 3.450% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;DXC Technology Co. | 1.800% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;DXC Technology Co. | 2.375% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Equifax Inc. | 2.600% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Equifax Inc. | 2.600% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Equifax Inc. | 3.100% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Equifax Inc. | 2.350% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 0.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 3.750% | 5/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 386 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 388 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 656 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 4.200% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 541 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;Flex Ltd. | 4.750% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Flex Ltd. | 4.875% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 1.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 2.650% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 2.150% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 3.200% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 2.900% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 2.900% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 5.400% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 4.150% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 5.950% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 4.900% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 495 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 6.200% | 10/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 6.350% | 10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 2.200% | 6/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 1.450% | 6/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 3.000% | 6/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 4.750% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 4.000% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 3.400% | 6/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 423 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 2.650% | 6/17/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 4.200% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 5.500% | 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 6.000% | 9/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.875% | 5/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.400% | 3/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.700% | 7/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.600% | 5/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 1.600% | 8/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.450% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.900% | 3/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 324 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.000% | 8/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.000% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.600% | 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.800% | 8/12/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.800% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.250% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.100% | 5/19/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.100% | 5/11/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.734% | 12/8/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674 | &nbsp;&nbsp; 507 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.250% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.750% | 3/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 349 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.050% | 8/12/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.100% | 2/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 187 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.200% | 8/12/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 5.050% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp; 313 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.625% | 2/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.000% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 584 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 7.000% | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.450% | 2/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.300% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 666 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 1.700% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 6.220% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 6.500% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.500% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 1.950% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 4.150% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 5.600% | 11/30/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 2.850% | 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 4.000% | 6/20/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp; 297 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 4.250% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 2.950% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.430% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Intuit Inc. | 0.950% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Intuit Inc. | 1.350% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Intuit Inc. | 1.650% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Jabil Inc. | 3.950% | 1/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Jabil Inc. | 3.600% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Jabil Inc. | 3.000% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Juniper Networks Inc. | 3.750% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Juniper Networks Inc. | 5.950% | 3/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 4.650% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 4.100% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 4.650% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 5.000% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 4.950% | 7/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 5.250% | 7/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings Inc. | 2.050% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings Inc. | 2.700% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings Inc. | 3.150% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings Inc. | 4.100% | 10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 3.800% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 3.750% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 4.000% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 1.900% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 4.875% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 2.875% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 3.125% | 6/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Leidos Inc. | 3.625% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Leidos Inc. | 4.375% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;Leidos Inc. | 2.300% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Marvell Technology Inc. | 2.450% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Marvell Technology Inc. | 4.875% | 6/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Marvell Technology Inc. | 2.950% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 2.950% | 11/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.300% | 3/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.350% | 3/26/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 275 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 2.000% | 11/18/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.950% | 2/26/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.850% | 3/26/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Microchip Technology Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 4.975% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 4.185% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 5.327% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 4.663% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 3.366% | 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 3.477% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.125% | 11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp; 611 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp; 751 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 651 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.500% | 2/12/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 377 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/46 | &nbsp;&nbsp;&nbsp;&nbsp;1226 | &nbsp;&nbsp; 1047 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.525% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;1478 | &nbsp;&nbsp; 985 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.921% | 3/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;1364 | &nbsp;&nbsp; 972 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.675% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.041% | 3/17/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656 | &nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 4.875% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 3.250% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 2.000% | 8/19/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 2.750% | 8/19/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 4.875% | 12/17/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 3.250% | 5/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 3.750% | 2/25/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 3.100% | 11/29/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | 4.600% | 2/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;NetApp Inc. | 3.300% | 9/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;NetApp Inc. | 1.875% | 6/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;NetApp Inc. | 2.375% | 6/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;NetApp Inc. | 2.700% | 6/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 0.584% | 6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 3.200% | 9/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 1.550% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 214 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 2.000% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/60 | &nbsp;&nbsp; 113 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC | 5.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC | 5.550% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 4.300% | 6/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 417 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 2.500% | 5/11/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 2.650% | 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 3.250% | 5/11/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 3.125% | 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 3.250% | 11/30/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.950% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp; 867 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 1.650% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 650 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.650% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp; 516 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 456 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.300% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 434 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 6.150% | 11/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 469 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.875% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp; 747 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 6.250% | 11/9/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.900% | 5/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.850% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 205 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.800% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp; 414 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 249 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 5.375% | 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 367 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.650% | 3/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.125% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 321 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.000% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 422 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.000% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 349 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp; 628 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.950% | 3/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 432 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 6.900% | 11/9/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.375% | 5/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 335 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.100% | 3/25/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 2.400% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 2.650% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 277 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 2.850% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 348 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp; 213 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Qorvo Inc. | 1.750% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Qorvo Inc. | 4.375% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 2.900% | 5/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 3.450% | 5/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 3.250% | 5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 381 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 1.300% | 5/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 1.650% | 5/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 5.400% | 5/20/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.650% | 5/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.800% | 5/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.300% | 5/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 304 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 3.250% | 5/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.500% | 5/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 6.000% | 5/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;RELX Capital Inc. | 4.000% | 3/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;RELX Capital Inc. | 3.000% | 5/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;RELX Capital Inc. | 4.750% | 5/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 2.350% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 1.000% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 3.850% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 3.800% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 1.400% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 424 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 4.200% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 2.950% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 2.000% | 6/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 220 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.500% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 1.250% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 308 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 3.250% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 110 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.300% | 8/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 55 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 3.700% | 4/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 1.500% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 1.950% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 2.700% | 7/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 2.900% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 3.050% | 7/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;ServiceNow Inc. | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 305 |
|  | &nbsp;&nbsp;&nbsp;Skyworks Solutions Inc. | 1.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Teledyne FLIR LLC | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 2.625% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 1.375% | 3/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 1.125% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 2.900% | 11/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/4/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 1.900% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 3.875% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 4.150% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Thomson Reuters Corp. | 5.500% | 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Thomson Reuters Corp. | 5.850% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Thomson Reuters Corp. | 5.650% | 11/23/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 1.750% | 10/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 3.875% | 4/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 2.500% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 4.250% | 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 3.125% | 10/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 3.250% | 10/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 4.500% | 4/22/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | 4.000% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | 4.125% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | 5.500% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | 3.625% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 3.150% | 12/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 892 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 1.900% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 0.750% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 2.750% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 1.100% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 4.150% | 12/14/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 2.700% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 4.300% | 12/14/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 663 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 3.650% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 2.000% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 4.500% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 1.400% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 4.650% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 3.900% | 8/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 1.800% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 4.700% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 2.200% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | 4.750% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | 2.850% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | 1.350% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | 6.200% | 11/17/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | 6.200% | 6/21/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;Workday Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Workday Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Workday Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Xilinx Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Xilinx Inc. | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
|  |  |  |  | **100613** |
| **Utilities (2.3%)** | **Utilities (2.3%)** | **Utilities (2.3%)** | **Utilities (2.3%)** | **Utilities (2.3%)** |
| &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 3.800% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 3.450% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 4.000% | 12/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 3.750% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 3.800% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 3.150% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 4.500% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;AES Corp. | 1.375% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;AES Corp. | 2.450% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. | 1.450% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.940% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. | 6.125% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.850% | 12/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 4.150% | 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;1/2/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 4.300% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.450% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.125% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 276 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.000% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 2.500% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 3.650% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 1.950% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 3.500% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 3.800% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 3.250% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 2.031% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 289 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 3.200% | 11/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 4.300% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 3.875% | 2/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 300 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 6.593% | 10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Appalachian Power Co. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 470 |
|  | &nbsp;&nbsp;&nbsp;Appalachian Power Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 352 |
|  | &nbsp;&nbsp;&nbsp;Appalachian Power Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 3.150% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 2.950% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 4.350% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 3.750% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 3.500% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 3.000% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 2.625% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 5.500% | 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 4.150% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 4.125% | 10/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 3.375% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 293 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 2.850% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Avangrid Inc. | 3.150% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Avangrid Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Avista Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Avista Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 2.400% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 2.250% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 3.500% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 3.750% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 4.250% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 3.200% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 2.900% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 3.250% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 3.700% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 641 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 5.950% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 5.150% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 3.800% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.450% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.250% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Black Hills Corp. | 1.037% | 8/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Black Hills Corp. | 3.950% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 3.150% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 3.050% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 4.200% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 3.875% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 6.950% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 4.850% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 4.250% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp. | 1.750% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp. | 5.850% | 1/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Cleco Corporate Holdings LLC | 3.743% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Cleco Corporate Holdings LLC | 4.973% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Cleveland Electric Illuminating Co. | 5.500% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp;Cleveland Electric Illuminating Co. | 5.950% | 12/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 3.000% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 3.450% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 2.550% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 2.950% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 5.900% | 3/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 6.450% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.600% | 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.700% | 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.650% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.750% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.850% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Connecticut Light and Power Co. | 0.750% | 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 448 |
| &nbsp;&nbsp;&nbsp;Connecticut Light and Power Co. | 3.200% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Connecticut Light and Power Co. | 4.300% | 4/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Connecticut Light and Power Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 2.400% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 492 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 5.850% | 3/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 6.200% | 6/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.450% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.500% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 321 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.850% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.875% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.125% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 326 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 6.150% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.000% | 11/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.500% | 5/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC | 6.250% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC | 5.750% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC | 5.600% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.800% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.600% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.950% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.250% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.950% | 7/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 4.050% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 4.350% | 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.100% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Delmarva Power & Light Co. | 4.150% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 3.071% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 3.900% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 1.450% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 2.850% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp; 350 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 2.250% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 4.350% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 5.375% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 6.300% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 5.950% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 4.050% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 5.750% | 10/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 2.300% | 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 6.050% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 5.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 4.600% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.650% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.750% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 2.529% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 4.220% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 1.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 453 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 2.850% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 3.400% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 2.950% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.950% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 6.000% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 2.450% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 2.550% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 6.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 6.000% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 6.050% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 5.300% | 2/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 149 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 4.000% | 9/30/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.875% | 3/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.200% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.550% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.750% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.150% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.300% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 2.550% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.800% | 12/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.200% | 6/15/49 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.500% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 5.000% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 224 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.250% | 1/15/82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 3.800% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 2.500% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 364 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 1.750% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 2.400% | 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 6.350% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 6.400% | 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 3.850% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 3.400% | 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 4.200% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke Energy Florida Project Finance LLC | 2.538% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Indiana LLC | 6.350% | 8/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp; 801 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Indiana LLC | 3.750% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Ohio Inc. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Ohio Inc. | 3.700% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 3.450% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 2.000% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 4.375% | 3/30/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 4.150% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 3.700% | 10/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 3.600% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 2.900% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress NC Storm Funding LLC | 1.295% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp; 79 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke Energy Progress NC Storm Funding LLC | 2.387% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress NC Storm Funding LLC | 2.799% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Eastern Energy Gas Holdings LLC | 2.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Eastern Energy Gas Holdings LLC | 3.600% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Edison International | 5.750% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
|  | &nbsp;&nbsp;&nbsp;El Paso Electric Co. | 6.000% | 5/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;El Paso Electric Co. | 5.000% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Emera US Finance LP | 3.550% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Emera US Finance LP | 4.750% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Enel Chile SA | 4.875% | 6/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Entergy Arkansas LLC | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Entergy Arkansas LLC | 2.650% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | 2.800% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | 3.750% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 0.950% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 5.590% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp; 224 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 5.400% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp; 385 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 2.400% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 3.120% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 4.000% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 4.950% | 1/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 2.900% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Entergy Mississippi LLC | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;Entergy Texas Inc. | 1.750% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Essential Utilities Inc. | 3.566% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Essential Utilities Inc. | 2.704% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Essential Utilities Inc. | 4.276% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Essential Utilities Inc. | 3.351% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Evergy Inc. | 2.450% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Evergy Inc. | 2.900% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 4.250% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro Inc. | 5.300% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro Inc. | 4.200% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 2.900% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.150% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.300% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.450% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 3.950% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 3.400% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 2.750% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 4.050% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 4.950% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 5.625% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 5.100% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 4.450% | 4/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 4.100% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 287 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 5.960% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 400 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.800% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 270 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.150% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp; 403 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 2.875% | 12/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 341 |
|  | &nbsp;&nbsp;&nbsp;Fortis Inc. | 3.055% | 10/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp; 274 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 2.200% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 4.300% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Gulf Power Co. | 3.300% | 5/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Iberdrola International BV | 6.750% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Indiana Michigan Power Co. | 3.850% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Indiana Michigan Power Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;Indiana Michigan Power Co. | 4.250% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 3.250% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 4.100% | 9/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 6.250% | 7/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 3.700% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;ITC Holdings Corp. | 3.650% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;ITC Holdings Corp. | 3.350% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;ITC Holdings Corp. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;John Sevier Combined Cycle Generation LLC | 4.626% | 1/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp; 59 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Kentucky Utilities Co. | 5.125% | 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Kentucky Utilities Co. | 4.375% | 10/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Kentucky Utilities Co. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Louisville Gas and Electric Co. | 3.300% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Louisville Gas and Electric Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 3.500% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 3.650% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 6.750% | 12/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 5.750% | 11/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 4.800% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 4.250% | 7/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Mississippi Power Co. | 4.250% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 5.500% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;National Grid USA | 5.803% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp; 757 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 1.000% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 3.900% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 3.700% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 2.400% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 1.350% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 4.023% | 11/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 4.150% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 5.250% | 4/20/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 4.400% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 4.300% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co. | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 2.940% | 3/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.200% | 6/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.255% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.450% | 6/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.625% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 1.900% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 2.750% | 11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 5.000% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.800% | 12/1/77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 5.650% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 0.950% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 451 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 3.490% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 1.700% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 5.950% | 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 4.800% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 5.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 4.375% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 3.950% | 3/30/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 5.000% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 6.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 5.350% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 3.400% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 4.000% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 3.200% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 3.250% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 5.500% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 4.950% | 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 5.950% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 5.375% | 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;Ohio Edison Co. | 6.875% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;Ohio Power Co. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Ohio Power Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Oklahoma Gas and Electric Co. | 3.800% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Oklahoma Gas and Electric Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Oklahoma Gas and Electric Co. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Oklahoma Gas and Electric Co. | 3.850% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.700% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.750% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 7.250% | 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 5.250% | 9/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 4.550% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.800% | 9/30/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.100% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.700% | 11/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 5.350% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;ONE Gas Inc. | 2.000% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;ONE Gas Inc. | 4.658% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;ONE Gas Inc. | 4.500% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.300% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 707 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.000% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 635 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.750% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.300% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 451 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 3.500% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 2.700% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 7.700% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 526 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 5.250% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 6.100% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 6.250% | 10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 6.350% | 7/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 6.000% | 1/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 4.125% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 4.150% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;PacifiCorp | 3.300% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;PacifiCorp | 5.350% | 12/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;PECO Energy Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;PECO Energy Co. | 2.800% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Energy Recovery Funding LLC | 2.822% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 3.594% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.022% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.263% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.722% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 5.081% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.451% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 5.212% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.674% | 12/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 5.099% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co. Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co. Inc. | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co. Inc. | 3.640% | 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co. Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Pinnacle West Capital Corp. | 1.300% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Potomac Electric Power Co. | 6.500% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 274 |
|  | &nbsp;&nbsp;&nbsp;Potomac Electric Power Co. | 4.150% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;PPL Capital Funding Inc. | 3.100% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp. | 6.250% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp. | 4.125% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp. | 4.150% | 10/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Progress Energy Inc. | 7.000% | 10/30/31 | &nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Progress Energy Inc. | 6.000% | 12/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 3.700% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 1.900% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 1.875% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 3.600% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 4.100% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 2.700% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of New Hampshire | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.000% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 2.250% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.000% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.200% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 2.450% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Public Service Enterprise Group Inc. | 1.600% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 388 |
|  | &nbsp;&nbsp;&nbsp;Puget Energy Inc. | 3.650% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 382 |
|  | &nbsp;&nbsp;&nbsp;Puget Energy Inc. | 4.100% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 6.274% | 3/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 5.757% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 4.300% | 5/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 4.223% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 3.250% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 2.500% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 1.700% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 396 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.000% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 4.500% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 4.150% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.320% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.700% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;SCE Recovery Funding LLC | 2.943% | 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 3.250% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 6.000% | 10/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Sierra Pacific Power Co. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 1.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 6.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.350% | 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.500% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.050% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.900% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 2.600% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 2.950% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 3.750% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 3.950% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;Southern Co Gas Capital Corp. | 5.150% | 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 4.475% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 5.113% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 1.750% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 5.700% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp; 301 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 4.000% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 3.750% | 9/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 3.250% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 1.750% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 382 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 5.875% | 3/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 3.950% | 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 4.400% | 5/30/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Southern Power Co. | 4.150% | 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Southern Power Co. | 5.150% | 9/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Southern Power Co. | 5.250% | 7/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Southern Power Co. | 4.950% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Corp. | 4.050% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Corp. | 3.800% | 9/29/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 18 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 2.750% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 4.100% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 6.200% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 3.250% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.300% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 4.500% | 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.400% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.700% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 4.400% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.750% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 4.100% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 4.350% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 4.300% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 4.450% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 3.625% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 5.000% | 7/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Toledo Edison Co. | 6.150% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Tucson Electric Power Co. | 3.050% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 3.500% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 2.950% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 2.950% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 2.150% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 8.450% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 3.650% | 4/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 3.250% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.450% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.950% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.500% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.875% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.300% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.400% | 3/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 6.000% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 6.000% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 6.350% | 11/30/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.000% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.450% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.200% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.000% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.800% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.600% | 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.300% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.950% | 11/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;Washington Gas Light Co. | 3.796% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Washington Gas Light Co. | 3.650% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | 3.550% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | 1.375% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | 2.200% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
| &nbsp;&nbsp;&nbsp;Wisconsin Electric Power Co. | 2.050% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Wisconsin Electric Power Co. | 4.750% | 9/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Wisconsin Electric Power Co. | 4.300% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Wisconsin Power and Light Co. | 6.375% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Wisconsin Power and Light Co. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 3.350% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 1.750% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 4.000% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 2.600% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 3.500% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  |  |  |  | **90424** |
| **Total Corporate Bonds (Cost $1,234,006)** | **Total Corporate Bonds (Cost $1,234,006)** | **Total Corporate Bonds (Cost $1,234,006)** | **Total Corporate Bonds (Cost $1,234,006)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1072443** |
| **Sovereign Bonds (3.4%)** | **Sovereign Bonds (3.4%)** | **Sovereign Bonds (3.4%)** | **Sovereign Bonds (3.4%)** | **Sovereign Bonds (3.4%)** |
| &nbsp;&nbsp;&nbsp;African Development Bank | 0.875% | 3/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp;African Development Bank | 0.875% | 7/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp;African Development Bank | 4.375% | 11/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.625% | 1/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.375% | 6/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1128 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 4.125% | 9/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.625% | 10/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.500% | 10/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 473 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.000% | 1/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.625% | 4/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 642 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.000% | 4/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.625% | 1/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.500% | 1/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp; 1012 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.375% | 8/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 6.220% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 3.125% | 8/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 693 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.500% | 11/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 | &nbsp;&nbsp; 623 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 5.820% | 6/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 3.125% | 9/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.750% | 9/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.875% | 1/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.750% | 10/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 389 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 411 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 3.125% | 4/27/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 3.875% | 9/28/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 221 |
|  | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | 2.250% | 5/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 483 |
|  | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | 0.500% | 5/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | 3.375% | 6/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | 0.500% | 1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 531 |
|  | &nbsp;&nbsp;&nbsp;Canada | 1.625% | 1/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 520 |
|  | &nbsp;&nbsp;&nbsp;Canada | 2.875% | 4/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp; 502 |
|  | &nbsp;&nbsp;&nbsp;Canada | 0.750% | 5/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 712 |
|  | &nbsp;&nbsp;&nbsp;Corp. Andina de Fomento | 1.250% | 10/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Corp. Andina de Fomento | 5.250% | 11/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;Corp. Andina de Fomento | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Council of Europe Development Bank | 1.375% | 2/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Council of Europe Development Bank | 3.000% | 6/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;Council of Europe Development Bank | 0.875% | 9/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 1.625% | 9/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 1.500% | 2/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 0.500% | 5/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 0.500% | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 448 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 0.500% | 1/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 445 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 3.250% | 1/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp; 797 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.625% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp; 517 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.250% | 6/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 531 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.500% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 1.625% | 3/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.625% | 7/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp; 1457 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.750% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 769 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.375% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1783 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.375% | 3/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 882 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.750% | 10/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 1.375% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 537 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.375% | 5/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.625% | 10/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 424 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 3.250% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 481 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 1.625% | 10/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.875% | 5/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.750% | 9/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 392 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 4.875% | 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 346 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Export Development Canada | 2.625% | 2/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Export Development Canada | 3.375% | 8/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 536 |
|  | &nbsp;&nbsp;&nbsp;Export Development Canada | 3.000% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 428 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 4.000% | 1/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 644 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 4.000% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 737 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 2.625% | 5/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 1.625% | 1/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 4.250% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 1.250% | 9/21/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 384 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 2.125% | 1/18/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 2.500% | 6/29/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Hydro-Quebec | 8.050% | &nbsp;&nbsp;&nbsp;&nbsp;7/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 340 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.625% | 1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.000% | 2/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 882 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 588 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.500% | 9/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 559 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.125% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 1050 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 1.750% | 3/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 7.000% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.625% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 1184 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.875% | 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 694 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.000% | 7/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/7/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.625% | 9/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 679 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 1.125% | 7/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 255 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.125% | 9/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 827 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 1.125% | 1/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.875% | 10/28/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;8/7/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 3/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 1071 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.500% | 8/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp; 661 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 11/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 722 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.625% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.625% | 4/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp; 1376 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.375% | 7/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1356 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 7/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp; 1098 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.500% | 10/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1797 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 3.125% | 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 454 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.875% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 11/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 324 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.750% | 11/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp; 765 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.125% | 9/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1271 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 3.625% | 9/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp; 751 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.750% | 10/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.875% | 5/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.750% | 8/26/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 624 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.250% | 2/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 525 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.625% | 11/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1231 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 3/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 4.750% | 2/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;International Finance Corp. | 1.375% | 10/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;International Finance Corp. | 0.375% | 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 362 |
|  | &nbsp;&nbsp;&nbsp;International Finance Corp. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 559 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Israel Government Aid Bond | 5.500% | 4/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 479 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Israel Government Aid Bond | 5.500% | 9/18/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.250% | 7/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 297 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.375% | 7/31/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 0.500% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 472 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.000% | 5/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 486 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 1.750% | 10/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.125% | 2/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp; 313 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 0.625% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 361 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.750% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp; 418 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.375% | 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.250% | 11/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.875% | 7/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.750% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 736 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.250% | 7/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 280 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.500% | 10/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 330 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.125% | 2/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp; 364 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 1.250% | 1/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 390 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency | 2.750% | 4/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency | 3.250% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency | 1.750% | 4/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 2.625% | 2/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 390 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 664 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 855 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.500% | 9/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp; 769 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 1.250% | 1/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;1725 | &nbsp;&nbsp;&nbsp; 1615 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.375% | 7/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1357 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.625% | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 895 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 1.000% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 888 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 3.000% | 5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 534 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 470 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 1.750% | 9/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.000% | 4/18/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 229 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.000% | 6/29/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 110 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Kingdom of Jordan AID | 3.000% | 6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 3.750% | 1/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 494 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 2.125% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 0.750% | 1/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 1.375% | 4/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 1.625% | 1/19/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 314 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 2.000% | 1/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 809 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 0.500% | 5/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 365 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 2.375% | 6/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 453 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 1.750% | 7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 252 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 2.500% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 231 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 394 |
|  | &nbsp;&nbsp;&nbsp;Nordic Investment Bank | 2.250% | 5/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Nordic Investment Bank | 0.375% | 9/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 539 |
|  | &nbsp;&nbsp;&nbsp;Nordic Investment Bank | 0.500% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG | 1.500% | 2/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG | 0.375% | 9/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG | 0.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 444 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 390 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 4.375% | 10/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 152 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 4.375% | 1/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp; 465 |
|  | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 5.750% | 10/28/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp; 231 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 7.625% | 3/21/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp; 247 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 4.125% | 11/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 5.100% | 6/18/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp; 683 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 4.975% | 4/20/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 2.950% | 1/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 294 |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 1.875% | 11/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 427 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 1.000% | 5/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp; 446 |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 3.300% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 1.300% | 7/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 400 |
|  | &nbsp;&nbsp;&nbsp;Province of British Columbia | 1.750% | 9/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Province of British Columbia | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Province of British Columbia | 0.900% | 7/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Province of Manitoba | 2.600% | 4/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Province of Manitoba | 2.125% | 6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Province of Manitoba | 1.500% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 297 |
|  | &nbsp;&nbsp;&nbsp;Province of New Brunswick | 3.625% | 2/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 3.050% | 1/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 3.200% | 5/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 2.500% | 4/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 2.300% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 836 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 3.100% | 5/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 569 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 2.000% | 10/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp; 503 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 1.125% | 10/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 393 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 1.600% | 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 487 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 1.800% | 10/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 1.500% | 2/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp; 414 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 0.600% | 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 453 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 2.500% | 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 2.750% | 4/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 797 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 7.500% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 558 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 1.350% | 5/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 323 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 1.900% | 4/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp; 994 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.125% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp; 460 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.240% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 427 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 2.450% | 1/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 2.550% | 7/27/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 314 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.500% | 1/31/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp; 513 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 4.340% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 339 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.500% | 1/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 4.000% | 1/31/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.100% | 1/22/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.250% | 9/21/71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Republic of Hungary | 5.375% | 3/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 350 |
|  | &nbsp;&nbsp;&nbsp;Republic of Hungary | 7.625% | 3/29/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 262 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.100% | 4/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.750% | 2/11/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 426 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.400% | 9/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 2.850% | 2/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.850% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.350% | 1/11/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 625 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.700% | 10/30/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.200% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp; 356 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.050% | 3/12/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 290 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.300% | 3/31/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 5.450% | 9/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.200% | 9/23/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.450% | 4/15/70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 468 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 2.375% | 10/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 1.250% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 435 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 2.875% | 10/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 5.375% | 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 454 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 4.000% | 10/17/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 354 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 5.625% | 11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 2.750% | 1/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 940 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 2.500% | 6/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 1.750% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 3.875% | 9/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 3.750% | 3/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 7.125% | 1/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 8.875% | 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp; 275 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 3.875% | 3/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 434 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 9.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 357 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 2.252% | 9/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 6.400% | 2/14/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 203 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Panama | 6.700% | 1/26/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292 | &nbsp;&nbsp; 306 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Panama | 4.500% | 4/16/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 423 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Panama | 4.300% | 4/29/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 291 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 367 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Panama | 3.870% | 7/23/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 485 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 4.500% | 1/19/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 7.350% | 7/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 2.392% | 1/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 2.783% | 1/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp; 747 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 1.862% | 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 8.750% | 11/21/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp; 788 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 3.000% | 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 593 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Peru | 6.550% | 3/14/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 344 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 3.300% | 3/11/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 5.625% | 11/18/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 3.600% | 1/15/72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 3.230% | 7/28/21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 9.500% | 10/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 381 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 10.625% | 3/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 5.500% | 3/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 231 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 5.170% | 10/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 372 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.750% | 1/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 382 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 9.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 382 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 2.457% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 7.750% | 1/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 478 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 1.648% | 6/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 6.375% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 5.609% | 4/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 317 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 6.375% | 10/23/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 609 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.950% | 1/20/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 339 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 326 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 2.650% | 12/10/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 365 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 5.950% | 10/13/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Republic of Poland | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 479 |
|  | &nbsp;&nbsp;&nbsp;Republic of Poland | 5.500% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 231 |
|  | &nbsp;&nbsp;&nbsp;Republic of Poland | 5.750% | 11/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 2.875% | 3/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 3.250% | 1/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 2.500% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 4.500% | 1/30/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 4.125% | 1/17/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 3.375% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;7/3/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 335 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.375% | 3/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 758 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.375% | 7/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.625% | 10/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.625% | 5/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 456 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.500% | 8/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 719 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 4.625% | 11/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 2.250% | 3/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 3.900% | 4/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.125% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 434 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.150% | 3/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 780 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 3.750% | 1/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 638 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.500% | 4/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp; 907 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 3.250% | 4/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp; 336 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 2.659% | 5/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 483 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 8.300% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 112 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 6.050% | 1/11/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp; 856 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.280% | 8/14/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp; 669 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 5.550% | 1/21/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.600% | 1/23/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.350% | 1/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 420 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;United Mexican States | 4.600% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 4.500% | 1/31/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 5.000% | 4/27/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 488 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 4.400% | 2/12/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 3.771% | 5/24/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 5.750% | 10/12/10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp; 288 |
| **Total Sovereign Bonds (Cost $150,924)** | **Total Sovereign Bonds (Cost $150,924)** | **Total Sovereign Bonds (Cost $150,924)** | **Total Sovereign Bonds (Cost $150,924)** | &nbsp;&nbsp;&nbsp;&nbsp;**135482** |
| **Taxable Municipal Bonds (0.7%)** | **Taxable Municipal Bonds (0.7%)** | **Taxable Municipal Bonds (0.7%)** | **Taxable Municipal Bonds (0.7%)** | **Taxable Municipal Bonds (0.7%)** |
| &nbsp;&nbsp;&nbsp;Alabama Economic Settlement Authority Miscellaneous Revenue | 3.163% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;American Municipal Power Inc. Electric Power & Light Revenue | 5.939% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;American Municipal Power Inc. Electric Power & Light Revenue | 7.499% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;American Municipal Power Inc. Electric Power & Light Revenue (Combination Hydroelectric Projects) | 8.084% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp; 225 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 2.574% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 6.918% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 6.263% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 7.043% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 6.907% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 3.126% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;California GO | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;California GO | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;California GO | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;California GO | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;California GO | 2.500% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;California GO | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;California GO | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 423 |
| &nbsp;&nbsp;&nbsp;California GO | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;California GO | 7.550% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 789 |
| &nbsp;&nbsp;&nbsp;California GO | 7.300% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;California GO | 7.350% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 702 |
| &nbsp;&nbsp;&nbsp;California GO | 7.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;California GO | 7.600% | 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;California State University College & University Revenue | 3.899% | 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;California State University College & University Revenue | 2.975% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Central Puget Sound Regional Transit Authority Sales & Sales Tax Revenue Bonds | 5.491% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Chicago IL GO | 7.045% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;Chicago IL GO, Prere. | 7.045% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport Port, Airport & Marina Revenue | 6.395% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport Port, Airport & Marina Revenue | 4.472% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport Port, Airport & Marina Revenue | 4.572% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;Chicago Transit Authority Sales & Transfer Tax Receipts Sales Tax Revenue | 6.899% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;Clark County Department of Aviation Port, Airport & Marina Revenue | 6.820% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Commonwealth Financing Authority Appropriations Revenue | 3.807% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Commonwealth Financing Authority Appropriations Revenue (Plancon Program) | 3.864% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 4.110% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 5.456% | 12/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 2.514% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 2.813% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts Transportation Fund Fuel Sales Tax Revenue | 5.731% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Connecticut GO | 5.090% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Connecticut GO | 5.850% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;Cook County IL GO | 6.229% | 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Dallas Area Rapid Transit Sales Tax Revenue | 5.999% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;Dallas Area Rapid Transit Sales Tax Revenue | 5.022% | 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Dallas Convention Center Hotel Development Corp. Hotel Occupancy Tax Revenue | 7.088% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 82 |
| <sup>11</sup> | &nbsp;&nbsp;&nbsp;Dallas Independent School District GO | 6.450% | 2/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Dallas-Fort Worth International Airport Port, Airport & Marina Revenue | 2.994% | 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Dallas-Fort Worth International Airport Port, Airport & Marina Revenue | 3.144% | 11/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Dallas-Fort Worth International Airport Port, Airport & Marina Revenue | 4.507% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;District of Columbia Income Tax Revenue | 5.591% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;District of Columbia Water & Sewer Authority Water Revenue | 4.814% | 10/1/14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;East Bay Municipal Utility District Water System Water Revenue | 5.874% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Florida State Board of Administration Finance Corp. Miscellaneous Revenue | 1.705% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 218 |
|  | &nbsp;&nbsp;&nbsp;Foothill-Eastern Transportation Corridor Agency Highway Revenue | 4.094% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Georgia Municipal Electric Authority Electric Power & Light Revenue | 6.637% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Georgia Municipal Electric Authority Electric Power & Light Revenue | 6.655% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Georgia Municipal Electric Authority Electric Power & Light Revenue | 7.055% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Corp. Tobacco Settlement Funded Revenue | 3.115% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Corp. Tobacco Settlement Funded Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Corp. Tobacco Settlement Funded Revenue | 4.214% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Grand Parkway Transportation Corp. Texas System Highway Revenue | 3.236% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Great Lakes Water Authority Sewage Disposal System Sewer Revenue | 3.056% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Houston TX GO | 6.290% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Illinois GO | 5.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;1405 | &nbsp;&nbsp; 1348 |
|  | &nbsp;&nbsp;&nbsp;Illinois State Toll Highway Authority Highway Revenue | 6.184% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Indiana Finance Authority Appropriations Revenue | 3.051% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;JobsOhio Beverage System Miscellaneous Revenue | 3.985% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;JobsOhio Beverage System Miscellaneous Revenue | 4.532% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;JobsOhio Beverage System Miscellaneous Revenue | 2.833% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Los Angeles CA Unified School District GO | 5.755% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Los Angeles CA Unified School District GO | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Los Angeles CA Unified School District GO | 6.758% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;Los Angeles Community College District GO | 1.606% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Los Angeles Community College District GO | 1.806% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;Los Angeles Community College District GO | 2.106% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue | 5.735% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue | 7.618% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;Los Angeles Department of Water & Power System Electric Power & Light Revenue | 6.574% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Los Angeles Department of Water & Power System Water Revenue | 6.603% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Louisiana Gasoline & Fuels Sales Tax Revenue | 2.952% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue | 3.615% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue | 4.145% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue | 4.475% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 3.197% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Maryland State Transportation Authority Transit Revenue | 5.888% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 5.715% | 8/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 3.395% | 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 2.950% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Massachusetts Water Resources Authority Water Revenue | 2.823% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Metropolitan Government of Nashville & Davidson County TN Hotel Occupancy Tax Revenue | 6.731% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Miscellaneous Taxes Revenue | 7.336% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Transit Revenue | 5.871% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Transit Revenue | 5.175% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Metropolitan Washington Airports Authority Dulles Toll Road Highway Revenue | 7.462% | 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Metropolitan Water Reclamation District of Greater Chicago GO | 5.720% | 12/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County FL Aviation Port, Airport & Marina Revenue | 4.280% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County FL Water & Sewer Water Revenue | 3.490% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Michigan Finance Authority Health, Hospital, Nursing Home Revenue | 3.084% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Michigan Finance Authority Health, Hospital, Nursing Home Revenue | 3.384% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Michigan State University College & University Revenue | 4.496% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Michigan State University College & University Revenue | 4.165% | 8/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Mississippi GO | 5.245% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Missouri Health & Educational Facilities Authority College & University Revenue | 3.229% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Missouri Health & Educational Facilities Authority College & University Revenue | 3.652% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| <sup>12</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 7.425% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Rutgers State University College & University Revenue | 3.915% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 50 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.081% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 6.561% | 12/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.131% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 7.414% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 7.102% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 482 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Revenue Water Revenue | 5.750% | 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Revenue Water Revenue | 5.440% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Water Revenue | 5.952% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Water Revenue | 6.011% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Water Revenue | 5.882% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.767% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 150 |
|  | &nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.572% | 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority Future Tax Secured Sales Tax Revenue | 5.508% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;New York NY GO | 5.517% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;New York NY GO | 6.271% | 12/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority College & University Revenue | 3.142% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Income Tax Revenue | 3.110% | 2/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Income Tax Revenue | 5.628% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Income Tax Revenue | 3.190% | 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Lease (Appropriation) Revenue | 2.202% | 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;New York State Thruway Authority Highway Revenue | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;New York State Thruway Authority Highway Revenue | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;New York State Urban Development Corp. Income Tax Revenue | 3.900% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;New York State Urban Development Corp. Income Tax Revenue | 5.770% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;North Texas Tollway Authority Highway Revenue | 3.011% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;North Texas Tollway Authority Highway Revenue | 6.718% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Ohio State University College & University Revenue | 4.910% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Ohio State University College & University Revenue | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Ohio State University General Receipts College & University Revenue | 3.798% | 12/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Ohio Turnpike & Infrastructure Commission Highway Revenue | 3.216% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue | 4.879% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Oregon Department of Transportation Fuel Sales Tax Revenue | 5.834% | 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Oregon GO | 5.762% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 40 |
|  | &nbsp;&nbsp;&nbsp;Oregon GO | 5.892% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
| <sup>13</sup> | &nbsp;&nbsp;&nbsp;Oregon School Boards Assn. GO | 5.528% | 6/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
| <sup>14</sup> | &nbsp;&nbsp;&nbsp;Oregon State University College & University Revenue | 3.424% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Pennsylvania State University College & University Revenue | 2.790% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Pennsylvania State University College & University Revenue | 2.840% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 66 |
|  | &nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission Highway Revenue | 5.511% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;Permanent University Fund - Texas A&M University System College & University Revenue | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;Permanent University Fund - University of Texas System College & University Revenue | 3.376% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Philadelphia PA Water & Wastewater Water Revenue | 2.926% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 35 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 6.040% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.960% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.310% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.031% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 25 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 3.139% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.926% | 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 3.175% | 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.458% | 10/1/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp; 412 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.810% | 10/15/65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 3.287% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Port of Morrow OR Nuclear Revenue | 2.543% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Regional Transportation District Sales Tax Revenue | 5.844% | 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 110 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Riverside County CA Appropriations Revenue | 3.818% | 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
|  | &nbsp;&nbsp;&nbsp;Rutgers State University of New Jersey College & University Revenue | 5.665% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Rutgers State University of New Jersey College & University Revenue | 3.270% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
|  | &nbsp;&nbsp;&nbsp;Sales Tax Securitization Corp. Illinois Sales Tax Revenue | 3.587% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;Sales Tax Securitization Corp. Illinois Sales Tax Revenue | 3.820% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Sales Tax Securitization Corp. Illinois Sales Tax Revenue | 4.787% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 4.839% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.985% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.808% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 2.905% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;San Diego County Water Authority Water Revenue | 6.138% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;San Francisco CA Public Utilities Commission Water Revenue | 6.950% | 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;San Jose Redevelopment Agency Successor Agency Tax Allocation Revenue | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;Santa Clara Valley Transportation Authority Sales Tax Revenue | 5.876% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;South Carolina Public Service Authority Electric Power & Light Revenue | 6.454% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;State Board of Administration Finance Corp. Miscellaneous Revenue | 1.258% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 298 |
|  | &nbsp;&nbsp;&nbsp;State Board of Administration Finance Corp. Miscellaneous Revenue | 2.154% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 205 |
|  | &nbsp;&nbsp;&nbsp;State Public School Building Authority Miscellaneous Revenue | 5.000% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
|  | &nbsp;&nbsp;&nbsp;Texas GO | 5.517% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Texas GO | 4.681% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Texas GO | 3.211% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Texas Private Activity Bond Surface Transportation Corp. Highway Revenue | 3.922% | 12/31/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Texas Transportation Commission GO | 2.562% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Texas Transportation Commission GO | 2.472% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Texas Transportation Commission State Highway Fund Fuel Sales Tax Revenue | 5.178% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Texas Transportation Commission State Highway Fund Miscellaneous Revenue | 4.000% | 10/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>13</sup> | &nbsp;&nbsp;&nbsp;Tucson AZ COP | 2.856% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 33 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 0.883% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 3.063% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 1.316% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 1.614% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 5.946% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 3.071% | 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 4.858% | 5/15/12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 190 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 4.767% | 5/15/15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 6.548% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 398 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 6.583% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 3.006% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 4.563% | 5/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 3.706% | 5/15/20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;University of Michigan College & University Revenue | 2.437% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;University of Michigan College & University Revenue | 2.562% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;University of Michigan College & University Revenue | 4.454% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;University of Nebraska Facilities Corp. College & University Revenue | 3.037% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;University of Pittsburgh-of the Commonwealth System of Higher Education College & University Revenue | 3.555% | 9/15/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;University of Texas System Regents College & University Revenue | 4.794% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;University of Texas System Regents College & University Revenue | 3.354% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;University of Texas System Regents College & University Revenue | 2.439% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 31 |
|  | &nbsp;&nbsp;&nbsp;University of Virginia College & University Revenue | 2.256% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;University of Virginia College & University Revenue | 4.179% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Utah GO | 4.554% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp;Utah GO | 3.539% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Washington GO | 5.140% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>13</sup> | &nbsp;&nbsp;&nbsp;Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue | 3.846% | 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 35 |
| <sup>13</sup> | &nbsp;&nbsp;&nbsp;Wisconsin Appropriations Revenue | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Wisconsin Appropriations Revenue | 3.154% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Wisconsin Appropriations Revenue | 3.954% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
| **Total Taxable Municipal Bonds (Cost $30,580)** | **Total Taxable Municipal Bonds (Cost $30,580)** | **Total Taxable Municipal Bonds (Cost $30,580)** | **Total Taxable Municipal Bonds (Cost $30,580)** | **Total Taxable Municipal Bonds (Cost $30,580)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27104** |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;Shares | Market<br> Value• ($000) |
| **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** |
| **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** |
| <sup>15</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund **(Cost** $**18,262**) | 4.334% | 182644 | &nbsp;&nbsp; **18262** |
| **Total Investments (99.8%) (Cost $4,511,055)** | **Total Investments (99.8%) (Cost $4,511,055)** | **Total Investments (99.8%) (Cost $4,511,055)** | **Total Investments (99.8%) (Cost $4,511,055)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3965392** |
| **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7104** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3972496** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. |  |  |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| 1 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
| 2 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
| 3 | Includes securities purchased on a when-issued or delayed-delivery basis for which the portfolio has not taken delivery as of December 31, 2022. |
| 4 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
| 5 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, the aggregate value was $16,726,000, representing 0.4% of net assets. |
| 6 | Guaranteed by the Government of Canada. |
| 7 | U.S. government-guaranteed. |
| 8 | Guaranteed by the Government of Japan. |
| 9 | Guaranteed by the Federal Republic of Germany. |
| 10 | Guaranteed by the Republic of Austria. |
| 11 | Scheduled principal and interest payments are guaranteed by Texas Permanent School Fund. |
| 12 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
| 13 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp. |
| 14 | Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co. |
| 15 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
|  | 12M—12-month. |
|  | 1YR—1-year. |
|  | 6M—6-month. |
|  | CMT—Constant Maturing Treasury Rate. |
|  | COP—Certificate of Participation. |
|  | DAC—Designated Activity Company. |
|  | GO—General Obligation Bond. |
|  | LIBOR—London Interbank Offered Rate. |
|  | Prere.—Prerefunded. |
|  | REMIC—Real Estate Mortgage Investment Conduits. |
|  | UMBS—Uniform Mortgage-Backed Securities. |
|  | USD—U.S. dollar. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Bond Market Index Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $4,492,793) | &nbsp;&nbsp;3947130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $18,262) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18262 |
| Total Investments in Securities | 3965392 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33389 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25593 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787 |
| **Total Assets** | **4026306** |
| **Liabilities** |  |
| Due to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45575 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7954 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53810** |
| **Net Assets** | **3972496** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;4477091 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;(504595) |
| **Net Assets** | **3972496** |
| **Net Assets** |  |
| **Applicable to 385,049,268 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **3972496** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$10.32** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Bond Market Index Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Interest<sup>1</sup> | 104685 |
| Total Income | 104685 |
| **Expenses** |  |
| The Vanguard Group—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;1115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;4280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;6000 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;5999 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;**98686** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>1</sup> | &nbsp;&nbsp;&nbsp;(47000) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;**(47018)** |
| **Change in Unrealized Appreciation (Depreciation) of Investment Securities<sup>1</sup>** | **(687610)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(635942)** |

---

---

| | |
|:---|:---|
| 1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $225,000, ($6000), less than $1,000, and $5,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89752 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47018) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31221 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(687610) | &nbsp;&nbsp;&nbsp;&nbsp;(207270) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(635942) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86297) |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;(120844) | &nbsp;&nbsp;&nbsp;&nbsp;(139591) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;515314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843843 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;120844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139591 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(778104) | &nbsp;&nbsp;&nbsp;&nbsp;(752865) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;(141946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230569 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(898732) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4681 |
| **Net Assets** |  |  |
| **Beginning of Period** | **4871228** | &nbsp;&nbsp;&nbsp;**4866547** |
| **End of Period** | **3972496** | &nbsp;&nbsp;&nbsp;**4871228** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Bond Market Index Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$12.22** | &nbsp;&nbsp;&nbsp;**$12.81** | &nbsp;&nbsp;&nbsp;**$12.21** | &nbsp;&nbsp;&nbsp;**$11.54** | &nbsp;&nbsp;&nbsp;**$11.86** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.313 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.844) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.454) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.343) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.594) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.226) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.030) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.226) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.260) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.267) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.104) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.023) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.364) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.290) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$10.32** | &nbsp;&nbsp;&nbsp;**$12.22** | &nbsp;&nbsp;&nbsp;**$12.81** | &nbsp;&nbsp;&nbsp;**$12.21** | &nbsp;&nbsp;&nbsp;**$11.54** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-13.21%** | &nbsp;&nbsp;&nbsp;**-1.72%** | &nbsp;&nbsp;&nbsp;**7.58%** | &nbsp;&nbsp;&nbsp;**8.67%** | &nbsp;&nbsp;&nbsp;**-0.21%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$3972 | &nbsp;&nbsp;&nbsp;$4871 | &nbsp;&nbsp;&nbsp;$4867 | &nbsp;&nbsp;&nbsp;$4300 | &nbsp;&nbsp;&nbsp;$3535 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;0.14%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;2.30% | &nbsp;&nbsp;&nbsp;1.85% | &nbsp;&nbsp;&nbsp;2.20% | &nbsp;&nbsp;&nbsp;2.72% | &nbsp;&nbsp;&nbsp;2.74% |
| Portfolio Turnover Rate<sup>3</sup> | &nbsp;&nbsp;&nbsp;42% | &nbsp;&nbsp;&nbsp;69% | &nbsp;&nbsp;&nbsp;94% | &nbsp;&nbsp;&nbsp;80% | &nbsp;&nbsp;&nbsp;89% |

---

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| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.14%. |
| 3 | Includes 12%, 33%, 28%, 19%, and 26%, respectively, attributable to mortgage-dollar-roll activity. |

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See accompanying Notes, which are an integral part of the Financial Statements.

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Total Bond Market Index Portfolio

Notes to Financial Statements

The Total Bond Market Index Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Certain of the portfolio's investments are in corporate debt instruments; the issuers' abilities to meet their obligations may be affected by economic developments in their respective industries.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer, tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral, as furnished by independent pricing services.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

2. To Be Announced (TBA) Transactions: A TBA transaction is an agreement to buy or sell mortgage-backed securities with agreed-upon characteristics (face amount, coupon, maturity) for settlement at a future date. The portfolio may be a seller of TBA transactions to reduce its exposure to the mortgage-backed securities market or in order to sell mortgage-backed securities it owns under delayed-delivery arrangements. When the portfolio is a buyer of TBA transactions, it maintains cash or short-term investments in an amount sufficient to meet the purchase price at the settlement date of the TBA transaction. The primary risk associated with TBA transactions is that a counterparty may default on its obligations. The portfolio mitigates its counterparty risk by, among other things, performing a credit analysis of counterparties, allocating transactions among numerous counterparties, and monitoring its exposure to each counterparty. The portfolio may also enter into a Master Securities Forward Transaction Agreement (MSFTA) with certain counterparties and require them to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. Under an MSFTA, upon a counterparty default (including bankruptcy), the portfolio may terminate any TBA transactions with that counterparty, determine the net amount owed by either party in accordance with its MSFTA, and sell or retain any collateral held up to the net amount owed to the portfolio under the MSFTA.

3. Mortgage Dollar Rolls: The portfolio enters into mortgage-dollar-roll transactions, in which the portfolio sells mortgage-backed securities to a dealer and simultaneously agrees to purchase similar securities in the future at a predetermined price. The proceeds of the securities sold in mortgage-dollar-roll transactions are typically invested in high-quality short-term fixed income securities. The portfolio forgoes principal and interest paid on the securities sold, and is compensated by interest earned on the proceeds of the sale and by a lower price on the securities to be repurchased. The portfolio also enters into mortgage-dollar-roll transactions in which the portfolio buys mortgage-backed securities from a dealer pursuant to a TBA transaction and simultaneously agrees to sell similar securities in the future at a predetermined price. The securities bought in mortgage-dollar-roll transactions are used to cover an open TBA sell position. The portfolio continues to earn interest on mortgage-backed security pools already held and receives a lower price on the securities to be sold in the future. The portfolio accounts for mortgage-dollar-roll transactions as purchases and sales; as such, these transactions may increase the portfolio's portfolio turnover rate. Amounts to be received or paid in connection with open mortgage dollar rolls are included in Receivables for Investment Securities Sold or Payables for Investment Securities Purchased in the Statement of Assets and Liabilities.

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Total Bond Market Index Portfolio

4. Futures Contracts: The portfolio uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 0% and less than 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

The portfolio had no open futures contracts at December 31, 2022.

5. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

6. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

7. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on

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Total Bond Market Index Portfolio

certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative,
marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of
trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $145,000, representing less than 0.01% of the portfolio's net assets and 0.06% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**C.** The portfolio's custodian bank has agreed to reduce its fees when the portfolio maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset
arrangements reduced the portfolio's expenses by $1,000 (an annual rate of less than 0.01% of average net assets).

**D.** Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs
or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

The following table summarizes the market value of the portfolio's investments as of December 31, 2022, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| U.S. Government and Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2608402 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2608402 |
| Asset-Backed/Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103699 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103699 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1072443 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1072443 |
| Sovereign Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135482 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135482 |
| Taxable Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27104 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27104 |
| Temporary Cash Investments | 18262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18262 |
| Total | 18262 | &nbsp;&nbsp;&nbsp;3947130 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3965392 |

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**E.** Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications
have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; and the treatment of amortization adjustments from certain fixed income securities. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94490 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;(46022) |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(553063) |

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Total Bond Market Index Portfolio

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;&nbsp;89181 | &nbsp;&nbsp;&nbsp;&nbsp;113757 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;31663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25834 |
| Total | &nbsp;&nbsp;&nbsp;120844 | &nbsp;&nbsp;&nbsp;&nbsp;139591 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;4518455 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6532 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(559595) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(553063) |

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**F.** During the year ended December 31, 2022, the portfolio purchased $181,452,000 of investment securities and sold $265,909,000 of investment securities, other than U.S. government securities and temporary cash
investments. Purchases and sales of U.S. government securities were $1,617,244,000 and $1,690,770,000, respectively.

The portfolio purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $6,579,000 and sales were $14,779,000, resulting in net realized loss of $732,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

**G.** Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;&nbsp;47186 | &nbsp;&nbsp;&nbsp;&nbsp;68447 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;10897 | &nbsp;&nbsp;&nbsp;&nbsp;11623 |
| Redeemed | (71707) | &nbsp;&nbsp;(61220) |
| Net Increase (Decrease) in Shares Outstanding | (13624) | &nbsp;&nbsp;&nbsp;&nbsp;18850 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 30% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**H.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Total Bond Market Index Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Total Bond Market Index Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022 the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP <br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

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#### Tax information (unaudited)
The portfolio hereby designates $32,428,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $31,663,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

The portfolio hereby designates 100%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of Section 163(j) and the regulations thereunder for the fiscal year.

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"Bloomberg®" and Bloomberg U.S. Aggregate Float Adjusted Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).

The Total Bond Market Index Portfolio is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Total Bond Market Index Portfolio or any member of the public regarding the advisability of investing in securities generally or in the Total Bond Market Index Portfolio particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Aggregate Float Adjusted Index, which is determined, composed and calculated by BISL without regard to Vanguard or the Total Bond Market Index Portfolio. Bloomberg has no obligation to take the needs of Vanguard or the owners of the Total Bond Market Index Portfolio into consideration in determining, composing or calculating the Bloomberg U.S. Aggregate Float Adjusted Index. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Total Bond Market Index Portfolio to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Total Bond Market Index Portfolio customers, in connection with the administration, marketing or trading of the Total Bond Market Index Portfolio.

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE TOTAL BOND MARKET INDEX PORTFOLIO OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE TOTAL BOND MARKET INDEX PORTFOLIO OR BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.© 2023 Bloomberg.

Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

------

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

------

![](tm231735d7undertotbondmri005.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690GBI 022023

------

![](tm231735d7growtporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Growth Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| Advisor's Report<br>| 2 |
| About Your Portfolio's Expenses<br>| 3 |
| Performance Summary<br>| 4 |
| Financial Statements<br>| 6 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Growth Portfolio returned –33.37%, well behind the
 –29.14% return of its benchmark, the Russell 1000 Growth Index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which weighed on bond prices and increased fears of recession.

• Returns were negative across all portfolio sectors except energy. Poor selection in information technology, the portfolio's largest sector, detracted most. An underweight allocation to the consumer
discretionary sector made it the largest contributor relative to the benchmark.

• For the decade ended December 31, the portfolio's average annual return trailed that of its benchmark by more than 1 percentage point.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take insurance-related
expenses into account.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

Advisor's Report

The Growth Portfolio returned –33.37% for the 12 months ended December 31, 2022. It lagged the –29.14% return of its benchmark, the Russell 1000 Growth Index.

#### Investment strategy
The portfolio seeks to outperform growth indexes and, over the longer term, the broader market. We employ proprietary fundamental research and a rigorous valuation discipline to invest in large-capitalization companies with attractive growth characteristics. Our investment approach is based on identifying companies that possess a clear competitive advantage that will enable them to sustain above-average growth.

#### Review of the period
U.S. equities, as measured by the Standard & Poor's 500 Index, returned –18.1% over the period. Growth stocks slightly outperformed value stocks and large caps outpaced small caps, as measured by the Russell indexes.

During 2022, the portfolio underperformed the benchmark, driven by negative stock selection in the information technology, industrials, and financials sectors. By contrast, the approach delivered positive stock selection within the energy sector. Sector allocation, a result of our bottom-up selection process, did not have a meaningful impact on relative performance.

Notable detractors included not owning health care companies AbbVie and Eli Lilly as well as an overweight position to U.S. credit bureau TransUnion. Given the heightened market volatility in 2022, more defensively oriented, lower-beta companies in the Russell 1000 Growth Index outperformed, creating a headwind for the portfolio's relative returns. Large-cap pharmaceutical companies such as AbbVie and Eli Lilly generally do not fit our philosophy and process because they lack durable moats (durable competitive advantages) and sustainable earnings growth. The share price of TransUnion moved lower as a result of disappointing guidance and broader uncertainty in the

macro environment. While credit origination remains a downside risk, we are positive on both the growth in emerging specialized markets where TransUnion continues to gain exposure and on their accelerating international growth. With the stock trading at all-time low multiples, we find the current valuation attractive and continue to hold an overweight position.

Top contributors to relative performance included an underweight allocation to electric vehicle (EV) manufacturer Tesla and overweight positions in Mastercard and Boston Scientific. Our underweight to Tesla was the largest relative contributor to performance because of the stock sell-off related to concerns around shifting competitive dynamics within the EV industry. Mastercard rose as the global payments company reported strong first-quarter earnings results driven by a large recovery in cross-border volume as international travel rebounded to pre-pandemic levels. The share price of Boston Scientific, a U.S.-based medical device manufacturer focused on minimally invasive products, rose following three consecutive quarters where management raised organic growth expectations. Although staffing shortages remain a challenge for hospitals, procedure volumes continue to recover. Results showed broad-based strength across Boston Scientific's portfolio, coming from both diverse growth drivers as well as product catalysts, including atrial fibrillation devices.

From a positioning perspective, the portfolio increased its active exposure to financials and health care and reduced large overweight allocations to information technology and communication services. It also added to its consumer discretionary holdings, partially closing its underweight exposure. At the end of the period, the portfolio was most overweight financials, information technology, and health care relative to the benchmark, most underweight consumer staples, consumer discretionary, and materials.

The Growth Portfolio consists of high-quality, growing companies protected by sustainable barriers to entry and benefiting from long-term secular trends. We continue to believe that powerful structural changes in our economy are moving hundreds of billions of dollars into new business areas such as electronic payments, e-commerce, digital media, life sciences, and cloud computing. By identifying competitively advantaged companies at the forefront of these trends and applying our rigorous valuation discipline, we believe this portfolio should outperform over the long-term. We are excited about the holdings in the portfolio and believe they are well-positioned to outperform across a variety of market environments going forward.

Portfolio Manager:

Andrew J. Shilling, CFA,

Senior Managing Director

Wellington Management Company llp

January 18, 2023

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$986.90 | &nbsp;&nbsp;&nbsp;&nbsp;$1.65 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.68 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.33%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Growth Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7growtporti002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7growtporti003.jpg) | &nbsp;&nbsp;&nbsp;Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-33.37% | &nbsp;&nbsp;&nbsp;&nbsp;8.55% | &nbsp;&nbsp;&nbsp;&nbsp;12.49% | &nbsp;&nbsp;&nbsp;&nbsp;$32435 |
| ![](tm231735d7growtporti004.jpg) | &nbsp;&nbsp;&nbsp;Russell 1000 Growth Index | &nbsp;&nbsp;&nbsp;&nbsp;-29.14 | &nbsp;&nbsp;&nbsp;&nbsp;10.96 | &nbsp;&nbsp;&nbsp;&nbsp;14.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37397 |
| ![](tm231735d7growtporti005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

See Financial Highlights for dividend and capital gains information.

------

Growth Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Communication Services | &nbsp;&nbsp;&nbsp;7.1% |
| Consumer Discretionary | 12.0 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;2.4 |
| Energy | &nbsp;&nbsp;&nbsp;1.8 |
| Financials | &nbsp;&nbsp;&nbsp;7.1 |
| Health Care | 14.8 |
| Industrials | &nbsp;&nbsp;&nbsp;6.8 |
| Information Technology | 46.1 |
| Real Estate | &nbsp;&nbsp;&nbsp;1.9 |

---

The table reflects the portfolio's investments, except for short-term investments. Sector categories are based on the Global Industry Classification Standard ("GICS"), except for the "Other" category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard and Poor's, a division of McGraw-Hill Companies, Inc. ("S&P"), and is licensed for use by Vanguard. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of its affiliates or any third party involved in making or compiling the GICS or any GICS classification have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

------

Growth Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Common Stocks (97.2%)** | **Common Stocks (97.2%)** | **Common Stocks (97.2%)** | **Common Stocks (97.2%)** |
| **Communication Services (6.9%)** | **Communication Services (6.9%)** | **Communication Services (6.9%)** | **Communication Services (6.9%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class C | 562239 | 49887 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ZoomInfo Technologies Inc. Class A | 316264 | &nbsp;&nbsp;&nbsp;&nbsp;9523 |
| **** |  |  | **59410** |
| **Consumer Discretionary (11.7%)** | **Consumer Discretionary (11.7%)** | **Consumer Discretionary (11.7%)** | **Consumer Discretionary (11.7%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 445401 | 37414 |
|  | &nbsp;&nbsp;&nbsp;TJX Cos. Inc. | 164440 | 13089 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Lululemon Athletica Inc. | 32476 | 10405 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. Class B | 82254 | &nbsp;&nbsp;&nbsp;&nbsp;9624 |
|  | &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings Inc. | 73953 | &nbsp;&nbsp;&nbsp;&nbsp;9345 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Etsy Inc. | 67771 | &nbsp;&nbsp;&nbsp;&nbsp;8117 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Airbnb Inc. Class A | 93072 | &nbsp;&nbsp;&nbsp;&nbsp;7958 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tesla Inc. | 32562 | &nbsp;&nbsp;&nbsp;&nbsp;4011 |
| **** |  |  | **99963** |
| **Consumer Staples (2.4%)** | **Consumer Staples (2.4%)** | **Consumer Staples (2.4%)** | **Consumer Staples (2.4%)** |
|  | &nbsp;&nbsp;&nbsp;Constellation Brands Inc. Class A | 56287 | 13044 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. Class A | 29047 | &nbsp;&nbsp;&nbsp;&nbsp;7207 |
| **** |  |  | **20251** |
| **Energy (1.7%)** | **Energy (1.7%)** | **Energy (1.7%)** | **Energy (1.7%)** |
|  | &nbsp;&nbsp;&nbsp;Schlumberger Ltd. | 271572 | 14518 |
| **Financials (6.9%)** | **Financials (6.9%)** | **Financials (6.9%)** | **Financials (6.9%)** |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 41715 | 13972 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 152536 | 12700 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | 77118 | 11394 |
|  | &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 51036 | &nbsp;&nbsp;&nbsp;&nbsp;8446 |
|  | &nbsp;&nbsp;&nbsp;Progressive Corp. | 58559 | &nbsp;&nbsp;&nbsp;&nbsp;7596 |
|  | &nbsp;&nbsp;&nbsp;Blackstone Inc. | 70822 | &nbsp;&nbsp;&nbsp;&nbsp;5254 |
| **** |  |  | **59362** |
| **Health Care (14.4%)** | **Health Care (14.4%)** | **Health Care (14.4%)** | **Health Care (14.4%)** |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 51163 | 27126 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 351088 | 16245 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 83955 | 12304 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | 75852 | 11351 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 45167 | 11043 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | 33948 | &nbsp;&nbsp;&nbsp;&nbsp;9010 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | 17374 | &nbsp;&nbsp;&nbsp;&nbsp;8912 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Insulet Corp. | 30217 | &nbsp;&nbsp;&nbsp;&nbsp;8896 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Illumina Inc. | 40019 | &nbsp;&nbsp;&nbsp;&nbsp;8092 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Mettler-Toledo International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3841 | &nbsp;&nbsp;&nbsp;&nbsp;5552 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Align Technology Inc. | 20057 | &nbsp;&nbsp;&nbsp;&nbsp;4230 |
| **** |  |  | **122761** |
| **Industrials (6.6%)** | **Industrials (6.6%)** | **Industrials (6.6%)** | **Industrials (6.6%)** |
|  | &nbsp;&nbsp;&nbsp;Equifax Inc. | 56943 | 11067 |
|  | &nbsp;&nbsp;&nbsp;TransUnion | 190614 | 10817 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Uber Technologies Inc. | 360696 | &nbsp;&nbsp;&nbsp;&nbsp;8920 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 16247 | &nbsp;&nbsp;&nbsp;&nbsp;8865 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 34335 | &nbsp;&nbsp;&nbsp;&nbsp;8519 |
|  | &nbsp;&nbsp;&nbsp;Airbus SE ADR | 187249 | &nbsp;&nbsp;&nbsp;&nbsp;5554 |
|  | &nbsp;&nbsp;&nbsp;IDEX Corp. | 12255 | &nbsp;&nbsp;&nbsp;&nbsp;2798 |
| **** |  |  | **56540** |
| **Information Technology (44.8%)** | **Information Technology (44.8%)** | **Information Technology (44.8%)** | **Information Technology (44.8%)** |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 388550 | 93182 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 630517 | 81923 |
|  | &nbsp;&nbsp;&nbsp;Mastercard Inc. Class A | 127792 | 44437 |
|  | &nbsp;&nbsp;&nbsp;Global Payments Inc. | 139771 | 13882 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;FleetCor Technologies Inc. | 73402 | 13482 |
|  | &nbsp;&nbsp;&nbsp;Visa Inc. Class A | 61524 | 12782 |
|  | &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 86822 | 12688 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Salesforce Inc. | 87080 | 11546 |
|  | &nbsp;&nbsp;&nbsp;Microchip Technology Inc. | 135637 | &nbsp;&nbsp;&nbsp;&nbsp;9529 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Block Inc. (XNYS) | 148551 | &nbsp;&nbsp;&nbsp;&nbsp;9335 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MongoDB Inc. Class A | 46805 | &nbsp;&nbsp;&nbsp;&nbsp;9213 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Autodesk Inc. | 42024 | &nbsp;&nbsp;&nbsp;&nbsp;7853 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 112138 | &nbsp;&nbsp;&nbsp;&nbsp;7609 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ceridian HCM Holding Inc. | 117761 | &nbsp;&nbsp;&nbsp;&nbsp;7554 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ServiceNow Inc. | 19089 | &nbsp;&nbsp;&nbsp;&nbsp;7412 |
|  | &nbsp;&nbsp;&nbsp;Intuit Inc. | 18045 | &nbsp;&nbsp;&nbsp;&nbsp;7023 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Atlassian Corp. Ltd. Class A | 43275 | &nbsp;&nbsp;&nbsp;&nbsp;5569 |
|  | &nbsp;&nbsp;&nbsp;Marvell Technology Inc. | 148858 | &nbsp;&nbsp;&nbsp;&nbsp;5514 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Advanced Micro Devices Inc. | 83474 | &nbsp;&nbsp;&nbsp;&nbsp;5407 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Okta Inc. | 76191 | &nbsp;&nbsp;&nbsp;&nbsp;5206 |
|  | &nbsp;&nbsp;&nbsp;ASML Holding NV GDR (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;8762 | &nbsp;&nbsp;&nbsp;&nbsp;4788 |
|  | &nbsp;&nbsp;&nbsp;Monolithic Power Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9081 | &nbsp;&nbsp;&nbsp;&nbsp;3211 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;nCino Inc. | 98501 | &nbsp;&nbsp;&nbsp;&nbsp;2604 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Snowflake Inc. Class A | 13376 | &nbsp;&nbsp;&nbsp;&nbsp;1920 |
| **** |  |  | **383669** |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **Real Estate (1.8%)** | **Real Estate (1.8%)** | **Real Estate (1.8%)** | **Real Estate (1.8%)** |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 53129 | 11256 |
|  | &nbsp;&nbsp;&nbsp;Equinix Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6347 | &nbsp;&nbsp;&nbsp;&nbsp;4158 |
| **** |  |  | **15414** |
| **Total Common Stocks<br> (Cost $897,019)** | **Total Common Stocks<br> (Cost $897,019)** | **Total Common Stocks<br> (Cost $897,019)** | **831888** |
| **Temporary Cash Investments (2.9%)** | **Temporary Cash Investments (2.9%)** | **Temporary Cash Investments (2.9%)** | **Temporary Cash Investments (2.9%)** |
| **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
|  |  | Face<br> Amount<br> ($000) |  |
| **Repurchase Agreement (2.9%)** | **Repurchase Agreement (2.9%)** | **Repurchase Agreement (2.9%)** | **Repurchase Agreement (2.9%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Bank of America Securities LLC 4.300%, 1/3/23<br> (Dated 12/30/22, Repurchase Value $24,312,000, collateralized by Ginnie Mae 3.500%–4.000%, 4/20/52–6/20/52, with a value of $24,786,000) | 24300 | 24300 |
| **Total Temporary Cash Investments (Cost $24,301)** | **Total Temporary Cash Investments (Cost $24,301)** | **Total Temporary Cash Investments (Cost $24,301)** | **24301** |
| **Total Investments (100.1%) (Cost $921,320)** | **Total Investments (100.1%) (Cost $921,320)** | **Total Investments (100.1%) (Cost $921,320)** | **856189** |
| **Other Assets and Liabilities—Net (-0.1%)** | **Other Assets and Liabilities—Net (-0.1%)** | **Other Assets and Liabilities—Net (-0.1%)** | **(651)** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **855538** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| \* | Non-income-producing security. |
| 1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
|  | ADR—American Depositary Receipt. |
|  | GDR—Global Depositary Receipt. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Growth Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $921,319) | &nbsp;&nbsp;856188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Total Investments in Securities | &nbsp;&nbsp;856189 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 |
| **Total Assets** | **856832** |
| **Liabilities** |  |
| Payables to Investment Advisor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;1037 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;**1294** |
| **Net Assets** | **855538** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | 935294 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;(79756) |
| **Net Assets** | **855538** |
| **Net Assets** |  |
| **Applicable to 47,184,685 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **855538** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;**$18.13** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Growth Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;5412 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;6084 |
| **Expenses** |  |
| Investment Advisory Fees—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic Fee | &nbsp;&nbsp;&nbsp;&nbsp;1499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Adjustment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(615) |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;2375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;3380 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;3378 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;**2706** |
| **Realized Net Gain (Loss) on Investment Securities Sold<sup>2</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**(9198)** |
| **Change in Unrealized Appreciation (Depreciation) of Investment Securities<sup>2</sup>** | **(434524)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(441016)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $30,000. |
| 2 | Realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(462) |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332836 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(434524) | &nbsp;&nbsp;&nbsp;&nbsp;(122268) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;(441016) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210106 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;(339141) | &nbsp;&nbsp;&nbsp;&nbsp;(116517) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;113930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105002 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;339141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116517 |
| Redeemed | &nbsp;&nbsp;&nbsp;(153998) | &nbsp;&nbsp;&nbsp;&nbsp;(225699) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;299073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4180) |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(481084) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89409 |
| **Net Assets** |  |  |
| **Beginning of Period** | **1336622** | &nbsp;&nbsp;&nbsp;&nbsp;**1247213** |
| **End of Period** | &nbsp;&nbsp;&nbsp;&nbsp;**855538** | &nbsp;&nbsp;&nbsp;**1336622** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Growth Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$38.27** | &nbsp;&nbsp;&nbsp;**$35.94** | &nbsp;&nbsp;&nbsp;**$26.95** | &nbsp;&nbsp;&nbsp;**$22.82** | &nbsp;&nbsp;&nbsp;**$23.99** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income (Loss)<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.013) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.113 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;(10.288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.826 | &nbsp;&nbsp;&nbsp;&nbsp;10.536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.038 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;(10.228) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.813 | &nbsp;&nbsp;&nbsp;&nbsp;10.569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.151 |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.013) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.104) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.108) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.080) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9.912) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.470) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.475) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.989) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.241) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9.912) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.483) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.579) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.097) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.321) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$18.13** | &nbsp;&nbsp;&nbsp;**$38.27** | &nbsp;&nbsp;&nbsp;**$35.94** | &nbsp;&nbsp;&nbsp;**$26.95** | &nbsp;&nbsp;&nbsp;**$22.82** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-33.37%** | &nbsp;&nbsp;&nbsp;**17.86%** | &nbsp;&nbsp;&nbsp;**43.09%** | &nbsp;&nbsp;&nbsp;**33.82%** | &nbsp;&nbsp;&nbsp;**0.20%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$856 | &nbsp;&nbsp;&nbsp;$1337 | &nbsp;&nbsp;&nbsp;$1247 | &nbsp;&nbsp;&nbsp;$791 | &nbsp;&nbsp;&nbsp;$598 |
| Ratio of Total Expenses to Average Net Assets<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.34%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.41% | &nbsp;&nbsp;&nbsp;0.41%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.40% | &nbsp;&nbsp;&nbsp;0.39% |
| Ratio of Net Investment Income (Loss) to Average Net Assets | &nbsp;&nbsp;&nbsp;0.27% | &nbsp;&nbsp;&nbsp;(0.04)% | &nbsp;&nbsp;&nbsp;0.11% | &nbsp;&nbsp;&nbsp;0.43% | &nbsp;&nbsp;&nbsp;0.45% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;33% | &nbsp;&nbsp;&nbsp;66% | &nbsp;&nbsp;&nbsp;41% | &nbsp;&nbsp;&nbsp;32% | &nbsp;&nbsp;&nbsp;47% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Includes performance-based investment advisory fee increases (decreases) of (0.06%), 0.02%, 0.01%, 0.01%, and 0.00%. |
| 3 | The ratio of expenses to average net assets for the period net of reduction from broker commission abatement arrangements are 0.34% and 0.40% for 2022 and 2020 respectively. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Growth Portfolio

Notes to Financial Statements

The Growth Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the portfolio's pricing time. When fair-value pricing is employed, the prices of securities used by a portfolio to calculate its net asset value may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services.

2. Repurchase Agreements: The portfolio enters into repurchase agreements with institutional counterparties. Securities pledged as collateral to the portfolio under repurchase agreements are held by a custodian bank until the agreements mature, and in the absence of a default, such collateral cannot be repledged, resold, or rehypothecated. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal. The portfolio further mitigates its counterparty risk by entering into repurchase agreements only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master repurchase agreements with its counterparties. The master repurchase agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any repurchase agreements with that counterparty, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio. Such action may be subject to legal proceedings, which may delay or limit the disposition of collateral.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net

------

Growth Portfolio

amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

6. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** Wellington Management Company llp , provides investment advisory services to the portfolio for a fee calculated at an annual percentage rate of average net assets managed by the advisor. The basic fee is
subject to quarterly adjustments based on performance relative to the Russell 1000 Growth Index for the preceding three years. For the year ended December 31, 2022, the investment advisory fee represented an effective
annual basic rate of 0.15% of the portfolio's average net assets, before a net decrease of $615,000 (0.06%) based on performance.

**C.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio corporate management,
administrative, marketing, distribution and cash management services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and
guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $33,000, representing less than 0.01% of the portfolio's net assets and 0.01% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

------

Growth Portfolio

**D.** The portfolio has asked its investment advisors to direct certain security trades, subject to obtaining the best price and execution, to brokers who have agreed to rebate to the portfolio part of the commissions
generated. Such rebates are used solely to reduce the portfolio's management and administrative expenses. For the year ended December 31, 2022, these arrangements reduced the portfolio's expenses by $2,000
(an annual rate of less than 0.01% of average net assets).

**E.** Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs
or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

The following table summarizes the market value of the portfolio's investments as of December 31, 2022, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 831888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;831888 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;24301 |
| Total | 831889 | &nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;856189 |

---

**F.** Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications
have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;2319 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;(9965) |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(72110) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;&nbsp;94486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14579 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;244655 | &nbsp;&nbsp;&nbsp;&nbsp;101938 |
| Total | &nbsp;&nbsp;&nbsp;339141 | &nbsp;&nbsp;&nbsp;&nbsp;116517 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;928300 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;104139 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;(176249) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(72110) |

---

------

Growth Portfolio

**G.** During the year ended December 31, 2022, the portfolio purchased $327,277,000 of investment securities and sold $377,268,000 of investment securities, other than temporary cash investments.

The portfolio purchased securities from and sold securities to other funds or accounts managed by its investment advisor or their affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $0 and sales were $2,243,000, resulting in net realized loss of $493,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

**H.** Capital shares issued and redeemed were:

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| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;5039 | &nbsp;&nbsp;&nbsp;&nbsp;2874 |
| Issued in Lieu of Cash Distributions | 13911 | &nbsp;&nbsp;&nbsp;&nbsp;3575 |
| Redeemed | (6689) | &nbsp;&nbsp;(6225) |
| Net Increase (Decrease) in Shares Outstanding | 12261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 64% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**I.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Growth Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Growth Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

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#### Tax information (unaudited)
For corporate shareholders, 100%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio distributed $244,655,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

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| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

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![](tm231735d7growtporti006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Annuity and Insurance Services > 800-522-5555

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

#### CFA<sup>®</sup> is a registered trademark owned by CFA Institute.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690G 022023

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![](tm231735d7hghyeldbndi001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
High Yield Bond Portfolio

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*Contents*

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| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| Advisor's Report<br>| 2 |
| About Your Portfolio's Expenses<br>| 4 |
| Performance Summary<br>| 5 |
| Financial Statements<br>| 7 |
| Trustees Approve Advisory Arrangement<br>| 27 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The High Yield Bond Portfolio returned –9.23%, faring somewhat
better than the –10.32% return of its composite benchmark index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which weighed on bond prices and increased fears of recession.

• With interest rates rapidly rising, the U.S. investment-grade bond market had its worst calendar-year return ever. High-yield bonds posted modestly better total returns.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

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| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

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Advisor's Report

For the 12 months ended December 31, 2022, the portfolio returned –9.23%, net of fees and expenses, compared with the benchmark return of –10.32%. Please note that Vanguard Fixed Income Group was added in August as an investment advisor to the portfolio, with Michael Chang as the manager for that portion of the portfolio. He will provide an advisor's report for Vanguard's part of the portfolio starting with next year's annual report.

#### The investment environment
Fixed income markets experienced steep negative total returns during the year as government bond yields moved sharply higher in response to tightening global monetary policies to combat persistent inflation. High-yield spreads widened amid increasing concerns that tighter financial conditions could tip the global economy into recession.

During the course of the year, the 10-year U.S. Treasury yield increased from 1.51% to 3.87%. This led to lower bond prices (bond yields and prices generally move in opposite directions). The average dollar price of the high-yield market decreased to $86 from $104 during the period. The spread of the high-yield market widened to 469 basis points over Treasuries as of December 31, 2022, compared with 283 basis points at the end of 2021. (A basis point is one-hundredth of a percentage point.)

There was some dispersion in performance by credit quality over the year as the high-yield market generally punished lower-quality credits. The lowest-rated CCC bonds trailed, returning –16.29%, according to Bloomberg High Yield Index data, whereas B-rated bonds led with a –10.26% return. BB-rated bonds returned –10.80%.

Although we predict continued macroeconomic headwinds in 2023 and expect defaults to migrate toward long-term averages, we think a repeat of 2022's negative-total-return year is unlikely given the valuation starting point. Further, with high-yield credit spreads and "all-in"

yields north of 4% and 8%, respectively, we believe market technicals could turn positive as investors seek to capture spreads and yields that are significantly higher than a year ago.

We are closely watching inflation and labor market data points as drivers of Federal Reserve policy as well as key factors in the depth and timing of a potential recession. Security selection should take on increased importance in 2023 because we anticipate greater dispersion across high-yield issuers, sectors, and credit qualities. We continue to prefer companies that can maintain their cash flows in a more challenging market and economic environment through strong competitive positioning, less-cyclical end-market exposures, and a focus on balance sheet improvement.

The Fed's contractionary monetary policy over the past 12 months, designed to curb persistent inflation, has brought the U.S. yield curve to its flattest since the 1980s—historically, a reliable indicator of an approaching recession. While the pace of inflation has decelerated recently, it is still unclear where inflation will settle and whether the Fed will feel compelled to keep raising interest rates. On the plus side, credit growth, excess savings, labor gains, and housing wealth all boosted consumers' health in 2022. Nevertheless, we do not believe the true cumulative effects of tighter policy on consumers will take hold until mid-2023.

Despite rising input costs, high-yield issuers' fundamentals held up relatively well in 2022. Many issuers have bolstered their balance sheets since the onset of COVID-19, providing some insulation from rising costs. However, we anticipate continued pressure on many issuers' profit margins, as higher costs might not be passed on so easily to a flagging consumer sector in 2023. All-in borrowing costs are significantly above where they were a year ago, further cutting into corporate free-cash-flow generation. Overall, we expect high-yield corporate fundamentals to weaken over the next six to 12 months, as the effects of tighter

monetary policy work their way through the economy.

While the market may be prone to volatility over the course of 2023, we believe high-yield spreads could tighten in the absence of negative news, especially given the lack of new high-yield supply and a potential pause in hawkish Fed actions in the first half of 2023. However, we believe spreads may widen in the second half of 2023 as corporate fundamentals continue to weaken amid the slowing macroeconomic environment. If this were to occur, we believe it may present attractive buying opportunities for high-yield investors.

As we enter 2023, we believe a modestly defensive risk posture, with a strong emphasis on security selection, is appropriate. Given the macroeconomic headwinds, weakening high-yield issuer fundamentals, and median-level valuations in the sector, we do not believe investors are likely to be adequately compensated for taking on excess credit risk. However, in the event of further market volatility, we are maintaining the flexibility to pivot and tactically increase risk at potentially more attractive valuations as the year progresses.

#### The portfolio's shortfalls
Positioning in the government-related and energy sectors detracted from relative returns. Credit selection in the energy and consumer cyclical services sectors also hurt relative results.

#### The portfolio's successes
Positioning in the packaging and construction machinery sectors benefited relative performance. Credit selection in the wireless and pharmaceuticals sectors also contributed favorably to relative returns.

#### The portfolio's positioning
The portfolio remains consistent in its investment objective and strategy and maintains meaningful exposure to relatively higher-quality names in the high-yield market. We believe these

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companies have more stable credit profiles and greater predictability of cash flows than those at the lower end of the quality spectrum.

We prefer higher-quality credits in order to minimize defaults and provide stable income. We continue to diversify the portfolio's holdings by issuer and industry. We also continue to deemphasize noncash-paying securities, preferred stocks, and equity-linked securities, such as convertibles, because of their potential for volatility.

Michael L. Hong, CFA,

Senior Managing Director and Fixed Income Portfolio Manager

Elizabeth H. Shortsleeve,

Senior Managing Director and Fixed Income Portfolio Manager

Wellington Management Company llp

January 11, 2023

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| High Yield Bond Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1040.40 | &nbsp;&nbsp;&nbsp;&nbsp;$1.29 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.28 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.25%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

High Yield Bond Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7hghyeldbndi002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7hghyeldbndi003.jpg) | &nbsp;&nbsp;&nbsp;High Yield Bond Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-9.23% | &nbsp;&nbsp;&nbsp;&nbsp;2.27% | &nbsp;&nbsp;&nbsp;&nbsp;3.64% | &nbsp;&nbsp;&nbsp;&nbsp;$14295 |
| ![](tm231735d7hghyeldbndi004.jpg) | &nbsp;&nbsp;&nbsp;High-Yield Corporate Composite Index | &nbsp;&nbsp;&nbsp;&nbsp;-10.32 | &nbsp;&nbsp;&nbsp;&nbsp;2.54 | &nbsp;&nbsp;&nbsp;&nbsp;3.87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14617 |
| ![](tm231735d7hghyeldbndi005.jpg) | &nbsp;&nbsp;&nbsp;Bloomberg U.S. Corporate High Yield Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-11.19 | &nbsp;&nbsp;&nbsp;&nbsp;2.31 | &nbsp;&nbsp;&nbsp;&nbsp;4.03 | &nbsp;&nbsp;&nbsp;&nbsp;14845 |

---

High-Yield Corporate Composite Index: Weighted 95% Bloomberg U.S. High-Yield Ba/B 2% Issuer Capped Index and 5% Bloomberg U.S. 1-5 Year Treasury Bond Index.

See Financial Highlights for dividend and capital gains information.

------

High Yield Bond Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Communications | 17.0% |
| Consumer Discretionary | 16.8 |
| Consumer Staples | &nbsp;&nbsp;3.3 |
| Energy | 11.1 |
| Financials | &nbsp;&nbsp;6.7 |
| Health Care | &nbsp;&nbsp;9.7 |
| Industrials | &nbsp;&nbsp;8.6 |
| Materials | &nbsp;&nbsp;8.0 |
| Real Estate | &nbsp;&nbsp;&nbsp;1.4 |
| Technology | &nbsp;&nbsp;9.7 |
| U.S. Government Securities | &nbsp;&nbsp;5.6 |
| Utilities | &nbsp;&nbsp;2.1 |

---

The table reflects the portfolio's investments, except for short-term investments, derivatives and other financial instruments.

------

High Yield Bond Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| **U.S. Government and Agency Obligations (5.3%)** | **U.S. Government and Agency Obligations (5.3%)** | **U.S. Government and Agency Obligations (5.3%)** | **U.S. Government and Agency Obligations (5.3%)** | **U.S. Government and Agency Obligations (5.3%)** | **U.S. Government and Agency Obligations (5.3%)** |
| **U.S. Government Securities (5.3%)** | **U.S. Government Securities (5.3%)** | **U.S. Government Securities (5.3%)** | **U.S. Government Securities (5.3%)** | **U.S. Government Securities (5.3%)** | **U.S. Government Securities (5.3%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.125% | 1/31/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4075 | &nbsp;&nbsp; 4061 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 4/30/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp; 4062 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.125% | 7/31/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4175 | &nbsp;&nbsp; 4065 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 7/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp; 402 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.250% | 8/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp; 671 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 10/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 12/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp; 202 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 5/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3195 | &nbsp;&nbsp;&nbsp; 3102 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.500% | 9/15/25 | &nbsp;&nbsp; 7890 | &nbsp;&nbsp;&nbsp; 7730 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 999 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 5/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 7/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3428 | &nbsp;&nbsp; 3243 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 10/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 396 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 7/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;&nbsp; 749 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 9/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp; 834 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 10/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 11/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208 | &nbsp;&nbsp;&nbsp; 1199 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592 | &nbsp;&nbsp; 538 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp; 224 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.250% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.375% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp; 18 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 5 |
| **Total U.S. Government and Agency Obligations (Cost $33,621)** | **Total U.S. Government and Agency Obligations (Cost $33,621)** | **Total U.S. Government and Agency Obligations (Cost $33,621)** | **Total U.S. Government and Agency Obligations (Cost $33,621)** | **Total U.S. Government and Agency Obligations (Cost $33,621)** | &nbsp;&nbsp;&nbsp;**33241** |
| **Corporate Bonds (85.0%)** | **Corporate Bonds (85.0%)** | **Corporate Bonds (85.0%)** | **Corporate Bonds (85.0%)** | **Corporate Bonds (85.0%)** | **Corporate Bonds (85.0%)** |
| **Communications (15.8%)** | **Communications (15.8%)** | **Communications (15.8%)** | **Communications (15.8%)** | **Communications (15.8%)** | **Communications (15.8%)** |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Altice France SA | 2.125% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp; 551 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Altice France SA | 5.500% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp; 1492 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Altice France SA | 5.125% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Banijay Entertainment SASU | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Belo Corp. | 7.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp; 898 |
|  | &nbsp;&nbsp;&nbsp;Belo Corp. | 7.250% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp; 501 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Cable One Inc. | 4.000% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp; 670 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1338 | &nbsp;&nbsp; 1296 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 261 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 6.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 939 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 4.500% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3415 | &nbsp;&nbsp; 2828 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2685 | &nbsp;&nbsp;&nbsp; 2156 |
|  | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3836 | &nbsp;&nbsp; 3053 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 293 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 4.250% | 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 148 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CSC Holdings LLC | 5.500% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605 | &nbsp;&nbsp; 1351 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CSC Holdings LLC | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp; 800 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CSC Holdings LLC | 4.125% | 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2721 | &nbsp;&nbsp; 1921 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CSC Holdings LLC | 4.625% | 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 110 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CSC Holdings LLC | 3.375% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp; 626 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CSC Holdings LLC | 4.500% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp; 2363 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CSC Holdings LLC | 5.000% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 335 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Directv Financing LLC / Directv Financing Co-Obligor Inc. | 5.875% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp; 529 |
|  | &nbsp;&nbsp;&nbsp;DISH DBS Corp. | 5.875% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125 | &nbsp;&nbsp; 1982 |
|  | &nbsp;&nbsp;&nbsp;DISH DBS Corp. | 7.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325 | &nbsp;&nbsp; 1069 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;DISH DBS Corp. | 5.250% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;DISH DBS Corp. | 7.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3130 | &nbsp;&nbsp;&nbsp; 2212 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;DISH DBS Corp. | 5.750% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp; 859 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;DISH Network Corp. | 11.750% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190 | &nbsp;&nbsp; 1224 |
|  | &nbsp;&nbsp;&nbsp;Embarq Corp. | 7.995% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp; 402 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Frontier Communications Holdings LLC | 5.875% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp; 451 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Frontier Communications Holdings LLC | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3815 | &nbsp;&nbsp; 3327 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Frontier Communications Holdings LLC | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp; 810 |
|  | &nbsp;&nbsp;&nbsp;Frontier Communications Holdings LLC | 5.875% | 11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2905 | &nbsp;&nbsp; 2253 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Frontier Communications Holdings LLC | 6.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581 | &nbsp;&nbsp; 457 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Go Daddy Operating Co. LLC / GD Finance Co. Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | &nbsp;&nbsp; 1708 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iliad Holding SAS | 6.500% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp; 423 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iliad Holding SAS | 7.000% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 385 |
|  | &nbsp;&nbsp;&nbsp;Lamar Media Corp. | 3.750% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1660 | &nbsp;&nbsp; 1490 |
|  | &nbsp;&nbsp;&nbsp;Lamar Media Corp. | 4.875% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Lamar Media Corp. | 4.000% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920 | &nbsp;&nbsp; 1677 |
|  | &nbsp;&nbsp;&nbsp;Lamar Media Corp. | 3.625% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406 | &nbsp;&nbsp;&nbsp; 1163 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Level 3 Financing Inc. | 3.625% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518 | &nbsp;&nbsp; 379 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Lorca Telecom Bondco SA | 4.000% | 9/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335 | &nbsp;&nbsp; 1275 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Match Group Holdings II LLC | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 125 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Match Group Holdings II LLC | 3.625% | 10/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Netflix Inc. | 4.875% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 554 |
|  | &nbsp;&nbsp;&nbsp;Netflix Inc. | 5.875% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp; 528 |
|  | &nbsp;&nbsp;&nbsp;Netflix Inc. | 6.375% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 357 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;News Corp. | 3.875% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp; 416 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Nexstar Media Inc. | 4.750% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 208 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Outfront Media Capital LLC / Outfront Media Capital Corp. | 6.250% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 308 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Outfront Media Capital LLC / Outfront Media Capital Corp. | 5.000% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp; 736 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Outfront Media Capital LLC / Outfront Media Capital Corp. | 4.250% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 435 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Outfront Media Capital LLC / Outfront Media Capital Corp. | 4.625% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2447 | &nbsp;&nbsp; 2029 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 6.250% | 2/28/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944 | &nbsp;&nbsp;&nbsp; 763 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 6.375% | 3/30/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp; 719 |
|  | &nbsp;&nbsp;&nbsp;Quebecor Media Inc. | 5.750% | 1/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2810 | &nbsp;&nbsp; 2809 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;ROBLOX Corp. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2217 | &nbsp;&nbsp;&nbsp; 1746 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Scripps Escrow II Inc. | 3.875% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710 | &nbsp;&nbsp; 1391 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Scripps Escrow II Inc. | 5.375% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;&nbsp; 517 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Sirius XM Radio Inc. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp; 315 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Sirius XM Radio Inc. | 4.000% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp; 946 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Sirius XM Radio Inc. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840 | &nbsp;&nbsp; 1520 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Sirius XM Radio Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp; 885 |

---

------

High Yield Bond Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Sprint Capital Corp. | 8.750% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Sprint Corp. | 7.625% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1652 |
|  | &nbsp;&nbsp;&nbsp;Sprint LLC | 7.875% | 9/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4363 |
|  | &nbsp;&nbsp;&nbsp;Sprint LLC | 7.125% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1761 |
|  | &nbsp;&nbsp;&nbsp;Telecom Italia Capital SA | 6.375% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Telecom Italia Capital SA | 6.000% | 9/30/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505 |
|  | &nbsp;&nbsp;&nbsp;Telecom Italia Capital SA | 7.721% | &nbsp;&nbsp;&nbsp;&nbsp;6/4/38 | &nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Telecom Italia SpA | 5.303% | 5/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 422 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Telenet Finance Luxembourg Notes Sarl | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2826 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 5.375% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Uber Technologies Inc. | 7.500% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Uber Technologies Inc. | 8.000% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Uber Technologies Inc. | 7.500% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Uber Technologies Inc. | 6.250% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Uber Technologies Inc. | 4.500% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Univision Communications Inc. | 7.375% | 6/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;UPC Broadband Finco BV | 4.875% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1177 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;UPC Holding BV | 5.500% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Videotron Ltd. | 5.375% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Videotron Ltd. | 5.125% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1890 |
| <sup>4,6</sup> | &nbsp;&nbsp;&nbsp;Videotron Ltd. | 3.625% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1625 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Videotron Ltd. | 3.625% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1136 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Virgin Media Secured Finance plc | 5.500% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Virgin Media Secured Finance plc | 4.500% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 994 |
| <sup>4,7</sup> | &nbsp;&nbsp;&nbsp;Virgin Media Vendor Financing Notes III DAC | 4.875% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 964 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Virgin Media Vendor Financing Notes IV DAC | 5.000% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Vmed O2 UK Financing I plc | 4.250% | 1/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2544 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;VZ Secured Financing BV | 5.000% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1227 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;WMG Acquisition Corp. | 2.750% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 501 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;WMG Acquisition Corp. | 3.875% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1306 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;WMG Acquisition Corp. | 3.000% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1268 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;WP/AP Telecom Holdings IV BV | 3.750% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 736 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Zayo Group Holdings Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Ziggo BV | 4.875% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1488 |
|  |  |  |  |  | **98961** |
| **Consumer Discretionary (15.2%)** | **Consumer Discretionary (15.2%)** | **Consumer Discretionary (15.2%)** | **Consumer Discretionary (15.2%)** | **Consumer Discretionary (15.2%)** | **Consumer Discretionary (15.2%)** |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;1011778 BC ULC / New Red Finance Inc. | 3.875% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1067 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;1011778 BC ULC / New Red Finance Inc. | 4.375% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1349 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;1011778 BC ULC / New Red Finance Inc. | 3.500% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;1011778 BC ULC / New Red Finance Inc. | 4.000% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2420 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Adient Global Holdings Ltd. | 4.875% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;American Builders & Contractors Supply Co. Inc. | 4.000% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 959 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;American Builders & Contractors Supply Co. Inc. | 3.875% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050 |
|  | &nbsp;&nbsp;&nbsp;Asbury Automotive Group Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Asbury Automotive Group Inc. | 4.625% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544 |
|  | &nbsp;&nbsp;&nbsp;Asbury Automotive Group Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 348 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Asbury Automotive Group Inc. | 5.000% | 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Ashton Woods USA LLC / Ashton Woods Finance Co. | 6.625% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Ashton Woods USA LLC / Ashton Woods Finance Co. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 418 |
|  | &nbsp;&nbsp;&nbsp;Bath & Body Works Inc. | 6.694% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 |
|  | &nbsp;&nbsp;&nbsp;Bath & Body Works Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Bath & Body Works Inc. | 6.625% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1538 |
|  | &nbsp;&nbsp;&nbsp;Bath & Body Works Inc. | 6.875% | 11/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Bath & Body Works Inc. | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Beacon Roofing Supply Inc. | 4.125% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Boyd Gaming Corp. | 4.750% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3469 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Boyd Gaming Corp. | 4.750% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Builders Firstsource Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp; 1110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 904 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Caesars Entertainment Inc. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2534 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Caesars Entertainment Inc. | 8.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2094 | &nbsp;&nbsp; 2059 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Caesars Entertainment Inc. | 4.625% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp; 976 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Caesars Resort Collection LLC / CRC Finco Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678 | &nbsp;&nbsp; 1645 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Camelot Return Merger Sub Inc. | 8.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 211 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Carnival Corp. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631 | &nbsp;&nbsp; 450 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Carnival Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2920 | &nbsp;&nbsp; 2379 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Carnival Corp. | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3625 | &nbsp;&nbsp; 2429 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Carnival Corp. | 10.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515 | &nbsp;&nbsp; 1238 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Carnival Holdings Bermuda Ltd. | 10.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 370 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CDI Escrow Issuer Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp; 559 |
|  | &nbsp;&nbsp;&nbsp;Cedar Fair LP | 5.250% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475 | &nbsp;&nbsp; 1330 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Cedar Fair LP / Canada's Wonderland Co. / Magnum Management Corp. / Millennium Op | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Cedar Fair LP / Canada's Wonderland Co. / Magnum Management Corp. / Millennium Op | 5.375% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp; 740 |
|  | &nbsp;&nbsp;&nbsp;Century Communities Inc. | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp; 275 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Century Communities Inc. | 3.875% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903 | &nbsp;&nbsp;&nbsp; 710 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Churchill Downs Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 247 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Churchill Downs Inc. | 4.750% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 277 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Cinemark USA Inc. | 8.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 76 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Cinemark USA Inc. | 5.875% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 275 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Cinemark USA Inc. | 5.250% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp; 683 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Cirsa Finance International Sarl | 6.250% | 12/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217 | &nbsp;&nbsp; 230 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Cirsa Finance International Sarl | 4.500% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 128 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Clarios Global LP / Clarios US Finance Co. | 6.250% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547 | &nbsp;&nbsp; 535 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Clarios Global LP / Clarios US Finance Co. | 8.500% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024 | &nbsp;&nbsp; 1002 |
|  | &nbsp;&nbsp;&nbsp;Dana Inc. | 5.625% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Dana Inc. | 4.500% | 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Co. | 4.346% | 12/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp; 407 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Co. | 9.625% | 4/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Co. | 3.250% | 2/12/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3675 | &nbsp;&nbsp;&nbsp; 2765 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Co. | 6.100% | 8/19/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905 | &nbsp;&nbsp; 838 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Co. | 4.750% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 506 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Co. | 5.291% | 12/8/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 3.087% | &nbsp;&nbsp;&nbsp;&nbsp;1/9/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 898 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 3.370% | 11/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1895 | &nbsp;&nbsp; 1853 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 4.134% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 3.375% | 11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 426 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 4.389% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 2.700% | 8/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2290 | &nbsp;&nbsp; 1989 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 4.950% | 5/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp; 686 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 2.900% | 2/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp; 529 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 2.900% | 2/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC, 3M USD LIBOR + 1.235% | 4.140% | 2/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp; 255 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Gap Inc. | 3.625% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp; 388 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Gap Inc. | 3.875% | 10/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber Co. | 5.000% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp; 405 |
|  | &nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber Co. | 5.250% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Griffon Corp. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 274 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Group 1 Automotive Inc. | 4.000% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Hanesbrands Inc. | 4.625% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp; 708 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Hanesbrands Inc. | 4.875% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2974 | &nbsp;&nbsp;&nbsp; 2674 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Hilton Domestic Operating Co. Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 379 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Hilton Domestic Operating Co. Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 208 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;KAR Auction Services Inc. | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp; 445 |
|  | &nbsp;&nbsp;&nbsp;KB Home | 4.800% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 353 |
|  | &nbsp;&nbsp;&nbsp;KB Home | 4.000% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 707 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;KFC Holding Co. / Pizza Hut Holdings LLC / Taco Bell of America LLC | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp; 1010 | &nbsp;&nbsp; 977 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Lithia Motors Inc. | 4.625% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1945 | &nbsp;&nbsp; 1772 |

---

------

High Yield Bond Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Masonite International Corp. | 3.500% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Mattel Inc. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 585 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Mattel Inc. | 5.875% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1873 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Melco Resorts Finance Ltd. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Melco Resorts Finance Ltd. | 5.375% | 12/4/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 424 |
|  | &nbsp;&nbsp;&nbsp;MGM Resorts International | 6.000% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1080 |
|  | &nbsp;&nbsp;&nbsp;MGM Resorts International | 5.750% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1317 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Michaels Cos. Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 868 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Michaels Cos. Inc. | 7.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 741 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;NCL Corp Ltd. | 7.750% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 |
|  | &nbsp;&nbsp;&nbsp;Newell Brands Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Newell Brands Inc. | 6.375% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Newell Brands Inc. | 6.625% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;NMG Holding Co. Inc. / Neiman Marcus Group LLC | 7.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Petsmart Inc. | 4.750% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2120 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Petsmart Inc. | 7.750% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | 5.500% | 8/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1910 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | 5.375% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | 11.625% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 689 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 751 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | 8.250% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1222 |
|  | &nbsp;&nbsp;&nbsp;Sands China Ltd. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Sands China Ltd. | 5.900% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375 |
|  | &nbsp;&nbsp;&nbsp;Sands China Ltd. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 557 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Scientific Games International Inc. | 7.000% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 971 |
|  | &nbsp;&nbsp;&nbsp;Service Corp. International | 4.625% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346 |
|  | &nbsp;&nbsp;&nbsp;Service Corp. International | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1982 |
|  | &nbsp;&nbsp;&nbsp;Service Corp. International | 3.375% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 534 |
|  | &nbsp;&nbsp;&nbsp;Service Corp. International | 4.000% | 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1324 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Speedway Motorsports LLC / Speedway Funding II Inc. | 4.875% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 759 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Taylor Morrison Communities Inc. | 5.875% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 433 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Taylor Morrison Communities Inc. | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;Toll Brothers Finance Corp. | 4.875% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Under Armour Inc. | 3.250% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1258 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;William Carter Co. | 5.625% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 388 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;WW International Inc. | 4.500% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1777 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. | 5.250% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1140 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Wynn Macau Ltd. | 5.500% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 413 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Wynn Macau Ltd. | 5.125% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | 7.750% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | 5.125% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Yum! Brands Inc. | 4.750% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1007 |
|  | &nbsp;&nbsp;&nbsp;Yum! Brands Inc. | 3.625% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1437 |
|  | &nbsp;&nbsp;&nbsp;Yum! Brands Inc. | 4.625% | 1/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 408 |
|  |  |  |  |  | **95226** |
| **Consumer Staples (3.1%)** | **Consumer Staples (3.1%)** | **Consumer Staples (3.1%)** | **Consumer Staples (3.1%)** | **Consumer Staples (3.1%)** | **Consumer Staples (3.1%)** |
|  | &nbsp;&nbsp;&nbsp;B&G Foods Inc. | 5.250% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2375 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Darling Global Finance BV | 3.625% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Darling Ingredients Inc. | 5.250% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 834 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Darling Ingredients Inc. | 6.000% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Energizer Holdings Inc. | 4.750% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3098 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Energizer Holdings Inc. | 4.375% | 3/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 735 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Performance Food Group Inc. | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Performance Food Group Inc. | 5.500% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2788 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Performance Food Group Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1689 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Post Holdings Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Post Holdings Inc. | 5.625% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1957 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Post Holdings Inc. | 5.500% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 689 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Post Holdings Inc. | 4.625% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1742 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Post Holdings Inc. | 4.500% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1381 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;United Natural Foods Inc. | 6.750% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 629 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;US Foods Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 |
|  |  |  |  |  | **19435** |
| **Energy (10.3%)** | **Energy (10.3%)** | **Energy (10.3%)** | **Energy (10.3%)** | **Energy (10.3%)** | **Energy (10.3%)** |
|  | &nbsp;&nbsp;&nbsp;Apache Corp. | 4.875% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1442 |
|  | &nbsp;&nbsp;&nbsp;Apache Corp. | 4.375% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
|  | &nbsp;&nbsp;&nbsp;Apache Corp. | 4.250% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 |
|  | &nbsp;&nbsp;&nbsp;Apache Corp. | 5.100% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 846 |
|  | &nbsp;&nbsp;&nbsp;Apache Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Apache Corp. | 4.250% | 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
|  | &nbsp;&nbsp;&nbsp;Apache Corp. | 5.350% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 668 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Blue Racer Midstream LLC / Blue Racer Finance Corp. | 7.625% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Blue Racer Midstream LLC / Blue Racer Finance Corp. | 6.625% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459 |
|  | &nbsp;&nbsp;&nbsp;Buckeye Partners LP | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Buckeye Partners LP | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1560 |
|  | &nbsp;&nbsp;&nbsp;Buckeye Partners LP | 3.950% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Buckeye Partners LP | 4.125% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 495 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Buckeye Partners LP | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2270 |
|  | &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP | 4.500% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 968 |
|  | &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CNX Resources Corp. | 6.000% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;CNX Resources Corp. | 7.375% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Colgate Energy Partners III LLC | 7.750% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Colgate Energy Partners III LLC | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427 |
|  | &nbsp;&nbsp;&nbsp;Continental Resources Inc. | 4.375% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 959 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Continental Resources Inc. | 5.750% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 895 |
|  | &nbsp;&nbsp;&nbsp;Continental Resources Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1736 |
|  | &nbsp;&nbsp;&nbsp;DCP Midstream Operating LP | 3.875% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597 |
|  | &nbsp;&nbsp;&nbsp;DCP Midstream Operating LP | 5.125% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;DT Midstream Inc. | 4.125% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2072 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;DT Midstream Inc. | 4.375% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2706 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Earthstone Energy Holdings LLC | 8.000% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 796 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Enerflex Ltd. | 9.000% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;EnLink Midstream LLC | 5.625% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 687 |
|  | &nbsp;&nbsp;&nbsp;EnLink Midstream LLC | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 668 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;EnLink Midstream LLC | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 406 |
|  | &nbsp;&nbsp;&nbsp;EnLink Midstream Partners LP | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 |
|  | &nbsp;&nbsp;&nbsp;EnLink Midstream Partners LP | 4.850% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 677 |
|  | &nbsp;&nbsp;&nbsp;EnLink Midstream Partners LP | 5.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;EnLink Midstream Partners LP | 5.050% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 |
|  | &nbsp;&nbsp;&nbsp;EnLink Midstream Partners LP | 5.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1535 |
|  | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 4.125% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1635 |
|  | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 5.500% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 684 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 4.500% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 838 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 4.750% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1875 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Hess Midstream Operations LP | 4.250% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 3.400% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 3.200% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 3.000% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 8.500% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 6.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 577 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 8.875% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1499 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 6.450% | 9/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 6.600% | 3/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 4.400% | 4/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 7.200% | 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 7.375% | 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1443 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 6.500% | 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 |

---

------

High Yield Bond Portfolio

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Permian Resources Operating LLC | 5.375% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Range Resources Corp. | 8.250% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Range Resources Corp. | 4.750% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1205 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Rockies Express Pipeline LLC | 4.950% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Rockies Express Pipeline LLC | 4.800% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Rockies Express Pipeline LLC | 7.500% | 7/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 262 |
|  | &nbsp;&nbsp;&nbsp;SM Energy Co. | 6.750% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;SM Energy Co. | 6.625% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
|  | &nbsp;&nbsp;&nbsp;SM Energy Co. | 6.500% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
|  | &nbsp;&nbsp;&nbsp;Southwestern Energy Co. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;Southwestern Energy Co. | 5.375% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1526 |
|  | &nbsp;&nbsp;&nbsp;Southwestern Energy Co. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Sunoco LP / Sunoco Finance Corp. | 6.000% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2236 |
|  | &nbsp;&nbsp;&nbsp;Sunoco LP / Sunoco Finance Corp. | 5.875% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 403 |
|  | &nbsp;&nbsp;&nbsp;Sunoco LP / Sunoco Finance Corp. | 4.500% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748 |
|  | &nbsp;&nbsp;&nbsp;Sunoco LP / Sunoco Finance Corp. | 4.500% | 4/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 999 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 6.875% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 732 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1482 |
| <sup>4,9</sup> | &nbsp;&nbsp;&nbsp;Transocean Guardian Ltd. | 5.875% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 626 |
| <sup>4,9</sup> | &nbsp;&nbsp;&nbsp;Transocean Phoenix 2 Ltd. | 7.750% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405 |
| <sup>4,9</sup> | &nbsp;&nbsp;&nbsp;Transocean Pontus Ltd. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472 |
| <sup>4,9</sup> | &nbsp;&nbsp;&nbsp;Transocean Proteus Ltd. | 6.250% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 473 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Venture Global Calcasieu Pass LLC | 3.875% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1418 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Venture Global Calcasieu Pass LLC | 4.125% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1607 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Venture Global Calcasieu Pass LLC | 3.875% | 11/1/33 | &nbsp;&nbsp; 2110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1723 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Vine Energy Holdings LLC | 6.750% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Weatherford International Ltd. | 8.625% | 4/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 526 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1192 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 4.750% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 5.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1235 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1492 |
|  |  |  |  |  | **64912** |
| **Financials (5.6%)** | **Financials (5.6%)** | **Financials (5.6%)** | **Financials (5.6%)** | **Financials (5.6%)** | **Financials (5.6%)** |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Acrisure LLC / Acrisure Finance Inc. | 4.250% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1889 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;AerCap Global Aviation Trust | 6.500% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3311 |
|  | &nbsp;&nbsp;&nbsp;Aircastle Ltd. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289 |
|  | &nbsp;&nbsp;&nbsp;Aircastle Ltd. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1218 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;AmWINS Group Inc. | 4.875% | 6/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Avolon Holdings Funding Ltd. | 5.250% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1603 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Burford Capital Global Finance LLC | 6.875% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 587 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Compass Group Diversified Holdings LLC | 5.250% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 6.250% | 12/29/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3564 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Enact Holdings Inc. | 6.500% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1366 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;FirstCash Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;FirstCash Inc. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Freedom Mortgage Corp. | 8.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;goeasy Ltd. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 730 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;HUB International Ltd. | 5.625% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 645 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | 5.017% | 6/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | 5.710% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1648 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | 4.750% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472 |
|  | &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | 5.250% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Nationstar Mortgage Holdings Inc. | 5.125% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 |
|  | &nbsp;&nbsp;&nbsp;Navient Corp. | 5.500% | 1/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 998 |
|  | &nbsp;&nbsp;&nbsp;Navient Corp. | 7.250% | 9/25/23 | &nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;Navient Corp. | 6.750% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
|  | &nbsp;&nbsp;&nbsp;Navient Corp. | 4.875% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Navient Corp. | 5.500% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1341 |
|  | &nbsp;&nbsp;&nbsp;Navient Corp. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;OneMain Finance Corp. | 8.250% | 10/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 |
|  | &nbsp;&nbsp;&nbsp;OneMain Finance Corp. | 6.125% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 788 |
|  | &nbsp;&nbsp;&nbsp;OneMain Finance Corp. | 7.125% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2174 |
|  | &nbsp;&nbsp;&nbsp;OneMain Finance Corp. | 3.500% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;OneMain Finance Corp. | 3.875% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 764 |
|  | &nbsp;&nbsp;&nbsp;OneMain Finance Corp. | 4.000% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 916 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Park Aerospace Holdings Ltd. | 5.500% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;PennyMac Financial Services Inc. | 5.375% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 947 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;PennyMac Financial Services Inc. | 4.250% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 825 |
|  | &nbsp;&nbsp;&nbsp;Radian Group Inc. | 4.500% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1787 |
|  | &nbsp;&nbsp;&nbsp;Radian Group Inc. | 6.625% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Radian Group Inc. | 4.875% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc. | 2.875% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc. | 4.000% | 10/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;United Wholesale Mortgage LLC | 5.500% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;United Wholesale Mortgage LLC | 5.750% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434 |
|  |  |  |  |  | **35245** |
| **Health Care (8.7%)** | **Health Care (8.7%)** | **Health Care (8.7%)** | **Health Care (8.7%)** | **Health Care (8.7%)** | **Health Care (8.7%)** |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;180 Medical Inc. | 3.875% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Acadia Healthcare Co. Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 498 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Acadia Healthcare Co. Inc. | 5.000% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Avantor Funding Inc. | 2.625% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2123 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Avantor Funding Inc. | 4.625% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1666 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Avantor Funding Inc. | 3.875% | 11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Bausch Health Cos. Inc. | 5.500% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1098 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;CAB SELAS | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1067 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;CAB SELAS | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 556 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Catalent Pharma Solutions Inc. | 5.000% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 589 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Catalent Pharma Solutions Inc. | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1134 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Catalent Pharma Solutions Inc. | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 649 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Catalent Pharma Solutions Inc. | 3.125% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Catalent Pharma Solutions Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 4.250% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1953 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 2.450% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 911 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 4.625% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 674 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 3.375% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 686 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 3.000% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 483 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Charles River Laboratories International Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1426 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Charles River Laboratories International Inc. | 3.750% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 566 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Charles River Laboratories International Inc. | 4.000% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CHS/Community Health Systems Inc. | 5.625% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1793 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CHS/Community Health Systems Inc. | 8.000% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CHS/Community Health Systems Inc. | 6.000% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 393 |

---

------

High Yield Bond Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CHS/Community Health Systems Inc. | 5.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CHS/Community Health Systems Inc. | 4.750% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;DaVita Inc. | 3.750% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 813 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Grifols Escrow Issuer SA | 4.750% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Grifols SA | 1.625% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 817 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Grifols SA | 2.250% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1233 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 7.690% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.875% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1549 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Hologic Inc. | 3.250% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1438 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;IQVIA Inc. | 5.000% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3715 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;IQVIA Inc. | 2.250% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1127 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;IQVIA Inc. | 2.875% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1336 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Jazz Securities DAC | 4.375% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1513 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Mozart Debt Merger Sub Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4098 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Mozart Debt Merger Sub Inc. | 5.250% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1521 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Organon & Co. / Organon Foreign Debt Co.-Issuer BV | 4.125% | 4/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2413 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Organon & Co. / Organon Foreign Debt Co.-Issuer BV | 5.125% | 4/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1087 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Owens & Minor Inc. | 4.500% | 3/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Owens & Minor Inc. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 740 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Teleflex Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1819 |
|  | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 4.625% | 7/15/24 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 5.125% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 4.625% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 923 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 6.125% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1194 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 429 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 4.375% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 624 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 6.125% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1495 |
|  | &nbsp;&nbsp;&nbsp;Teva Pharmaceutical Finance Netherlands III BV | 3.150% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1521 |
|  | &nbsp;&nbsp;&nbsp;Teva Pharmaceutical Finance Netherlands III BV | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
|  | &nbsp;&nbsp;&nbsp;Teva Pharmaceutical Finance Netherlands III BV | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1290 |
|  |  |  |  |  | **54827** |
| **Industrials (7.5%)** | **Industrials (7.5%)** | **Industrials (7.5%)** | **Industrials (7.5%)** | **Industrials (7.5%)** | **Industrials (7.5%)** |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Air Canada | 3.875% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1075 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Allison Transmission Inc. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Allison Transmission Inc. | 3.750% | 1/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;American Airlines Inc. / AAdvantage Loyalty IP Ltd. | 5.500% | 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 |
| <sup>4,9</sup> | &nbsp;&nbsp;&nbsp;American Airlines Inc. / AAdvantage Loyalty IP Ltd. | 5.750% | 4/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1230 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Aramark Services Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1571 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Aramark Services Inc. | 6.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Aramark Services Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;BWX Technologies Inc. | 4.125% | 6/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;BWX Technologies Inc. | 4.125% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1248 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Chart Industries Inc. | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Chart Industries Inc. | 9.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Clean Harbors Inc. | 4.875% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Clean Harbors Inc. | 5.125% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 712 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Covanta Holding Corp. | 4.875% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 536 |
|  | &nbsp;&nbsp;&nbsp;Delta Air Lines Inc. | 3.750% | 10/28/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;First Student Bidco Inc. / First Transit Parent Inc. | 4.000% | 7/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1824 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Gates Global LLC / Gates Corp. | 6.250% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd. | 5.750% | 1/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1773 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Herc Holdings Inc. | 5.500% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5442 |
|  | &nbsp;&nbsp;&nbsp;Howmet Aerospace Inc. | 3.000% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Loxam SAS | 4.250% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Loxam SAS | 2.875% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 621 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Loxam SAS | 3.750% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Moog Inc. | 4.250% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Mueller Water Products Inc. | 4.000% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Q-Park Holding I BV | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 787 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Q-Park Holding I BV | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 691 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Rolls-Royce plc | 3.625% | 10/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Rolls-Royce plc | 5.750% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1169 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Sensata Technologies BV | 5.625% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 423 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Sensata Technologies BV | 5.000% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1590 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Sensata Technologies Inc. | 4.375% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Sensata Technologies Inc. | 3.750% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 945 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Spirit AeroSystems Inc. | 7.500% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 666 |
|  | &nbsp;&nbsp;&nbsp;Spirit AeroSystems Inc. | 3.850% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Spirit AeroSystems Inc. | 4.600% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 313 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Spirit AeroSystems Inc. | 9.375% | 11/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1385 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Stericycle Inc. | 3.875% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;TK Elevator Midco GmbH | 4.375% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 567 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;TK Elevator US Newco Inc. | 5.250% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;TransDigm Inc. | 6.250% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1927 |
|  | &nbsp;&nbsp;&nbsp;TransDigm Inc. | 5.500% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540 |
|  | &nbsp;&nbsp;&nbsp;TransDigm Inc. | 4.625% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2341 |
|  | &nbsp;&nbsp;&nbsp;TransDigm Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 363 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2020-1 Pass Through Trust | 5.875% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 576 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;United Airlines Inc. | 4.375% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1071 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;United Airlines Inc. | 4.625% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 999 |
|  | &nbsp;&nbsp;&nbsp;United Rentals North America Inc. | 5.500% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 |
|  | &nbsp;&nbsp;&nbsp;United Rentals North America Inc. | 4.875% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1823 |
|  | &nbsp;&nbsp;&nbsp;United Rentals North America Inc. | 5.250% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 413 |
|  | &nbsp;&nbsp;&nbsp;United Rentals North America Inc. | 4.000% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2007 |
|  | &nbsp;&nbsp;&nbsp;United Rentals North America Inc. | 3.875% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1015 |
|  | &nbsp;&nbsp;&nbsp;United Rentals North America Inc. | 3.750% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 715 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Williams Scotsman International Inc. | 4.625% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 437 |
|  |  |  |  |  | **47276** |
| **Materials (7.5%)** | **Materials (7.5%)** | **Materials (7.5%)** | **Materials (7.5%)** | **Materials (7.5%)** | **Materials (7.5%)** |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Advanced Drainage Systems Inc. | 5.000% | 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Advanced Drainage Systems Inc. | 6.375% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Arconic Corp. | 6.125% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Ardagh Packaging Finance plc / Ardagh Holdings USA Inc. | 4.125% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1638 |
| <sup>4,7</sup> | &nbsp;&nbsp;&nbsp;Ardagh Packaging Finance plc / Ardagh Holdings USA Inc. | 4.750% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Ardagh Packaging Finance plc / Ardagh Holdings USA Inc. | 5.250% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Ardagh Packaging Finance plc / Ardagh Holdings USA Inc. | 5.250% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1075 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Avient Corp. | 7.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1464 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Axalta Coating Systems LLC | 3.375% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1527 |
|  | &nbsp;&nbsp;&nbsp;Ball Corp. | 4.875% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 632 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Ball Corp. | 1.500% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 870 |
|  | &nbsp;&nbsp;&nbsp;Ball Corp. | 6.875% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 576 |
|  | &nbsp;&nbsp;&nbsp;Ball Corp. | 3.125% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Berry Global Inc. | 4.500% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 947 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Berry Global Inc. | 4.875% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1227 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Berry Global Inc. | 5.625% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Canpack SA / Canpack US LLC | 3.875% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Cemex SAB de CV | 7.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 |
|  | &nbsp;&nbsp;&nbsp;Cemex SAB de CV | 5.450% | 11/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Chemours Co. | 5.750% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 328 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Chemours Co. | 4.625% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1475 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings Inc. | 6.625% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;Commercial Metals Co. | 4.125% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Commercial Metals Co. | 3.875% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Commercial Metals Co. | 4.375% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 |

---

------

High Yield Bond Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Constellium SE | 5.875% | 2/15/26 | &nbsp;&nbsp; 747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Constellium SE | 5.625% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Constellium SE | 3.750% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 696 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Crown Americas LLC | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 |
|  | &nbsp;&nbsp;&nbsp;Crown Americas LLC / Crown Americas Capital Corp. VI | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1593 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Crown European Holdings SA | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 767 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Diamond BC BV | 4.625% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Element Solutions Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 641 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;FMG Resources August 2006 Pty Ltd. | 5.875% | 4/15/30 | &nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 699 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;FMG Resources August 2006 Pty Ltd. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 972 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;FMG Resources August 2006 Pty Ltd. | 6.125% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499 |
|  | &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC | 4.125% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1022 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC | 4.750% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC | 3.500% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1740 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Hudbay Minerals Inc. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 456 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Kaiser Aluminum Corp. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Kaiser Aluminum Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;NOVA Chemicals Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 772 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Novelis Corp. | 3.250% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 775 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Novelis Corp. | 4.750% | 1/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1255 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Novelis Corp. | 3.875% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 833 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;OCI NV | 4.625% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 530 |
|  | &nbsp;&nbsp;&nbsp;Olin Corp. | 5.125% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 309 |
|  | &nbsp;&nbsp;&nbsp;Olin Corp. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Olympus Water US Holding Corp. | 7.125% | 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Olympus Water US Holding Corp. | 4.250% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 663 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Olympus Water US Holding Corp. | 6.250% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Owens-Brockway Glass Container Inc. | 5.875% | 8/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Owens-Brockway Glass Container Inc. | 5.375% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 616 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Owens-Brockway Glass Container Inc. | 6.375% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1221 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Owens-Brockway Glass Container Inc. | 6.625% | 5/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 686 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Sealed Air Corp. | 4.000% | 12/1/27 | &nbsp;&nbsp; 474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 |
|  | &nbsp;&nbsp;&nbsp;Silgan Holdings Inc. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 574 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Silgan Holdings Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1197 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;SPCM SA | 3.125% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Standard Industries Inc. | 5.000% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 393 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Standard Industries Inc. | 4.750% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1044 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Standard Industries Inc. | 4.375% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1142 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Standard Industries Inc. | 3.375% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1618 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Trivium Packaging Finance BV | 3.750% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975 |
| <sup>4,5</sup> | &nbsp;&nbsp;&nbsp;Trivium Packaging Finance BV | 3.750% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 468 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Trivium Packaging Finance BV | 5.500% | 8/15/26 | &nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 696 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Tronox Inc. | 4.625% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1520 |
|  |  |  |  |  | **46798** |
| **Real Estate (1.4%)** | **Real Estate (1.4%)** | **Real Estate (1.4%)** | **Real Estate (1.4%)** | **Real Estate (1.4%)** | **Real Estate (1.4%)** |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | 4.875% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 594 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | 5.250% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | 5.000% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | 4.875% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1445 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | 5.250% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 551 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | 4.500% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | 5.625% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Iron Mountain Information Management Services Inc. | 5.000% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;MPT Operating Partnership LP / MPT Finance Corp. | 5.000% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 328 |
|  | &nbsp;&nbsp;&nbsp;MPT Operating Partnership LP / MPT Finance Corp. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287 |
|  | &nbsp;&nbsp;&nbsp;MPT Operating Partnership LP / MPT Finance Corp. | 3.500% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316 |
|  | &nbsp;&nbsp;&nbsp;Service Properties Trust | 7.500% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;Service Properties Trust | 5.250% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Service Properties Trust | 4.750% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Service Properties Trust | 5.500% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 |
|  | &nbsp;&nbsp;&nbsp;Service Properties Trust | 3.950% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;Service Properties Trust | 4.375% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Uniti Group LP / Uniti Fiber Holdings Inc. / CSL Capital LLC | 7.875% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;VICI Properties LP / VICI Note Co. Inc. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;VICI Properties LP / VICI Note Co. Inc. | 4.250% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2300 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;VICI Properties LP / VICI Note Co. Inc. | 3.750% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;VICI Properties LP / VICI Note Co. Inc. | 4.625% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp; **8479** |
| **Technology (7.9%)** | **Technology (7.9%)** | **Technology (7.9%)** | **Technology (7.9%)** | **Technology (7.9%)** | **Technology (7.9%)** |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Black Knight InfoServ LLC | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1368 |
|  | &nbsp;&nbsp;&nbsp;Block Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 737 |
|  | &nbsp;&nbsp;&nbsp;Block Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC / CDW Finance Corp. | 5.500% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC / CDW Finance Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1196 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC / CDW Finance Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1904 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Cloud Software Group Holdings Inc. | 6.500% | 3/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;CommScope Inc. | 8.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Condor Merger Sub Inc. | 7.375% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 783 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Entegris Escrow Corp. | 4.750% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Entegris Escrow Corp. | 5.950% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Entegris Inc. | 4.375% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1683 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Entegris Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 615 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Fair Isaac Corp. | 4.000% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 737 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Gartner Inc. | 3.625% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Gartner Inc. | 3.750% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1119 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;II-VI Inc. | 5.000% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1341 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Imola Merger Corp. | 4.750% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5749 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Minerva Merger Sub Inc. | 6.500% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1428 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;MSCI Inc. | 4.000% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1512 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;MSCI Inc. | 3.625% | 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
|  | &nbsp;&nbsp;&nbsp;Nokia of America Corp. | 6.500% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1315 |
|  | &nbsp;&nbsp;&nbsp;Nokia of America Corp. | 6.450% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2520 |
|  | &nbsp;&nbsp;&nbsp;Nokia OYJ | 4.375% | 6/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404 |
|  | &nbsp;&nbsp;&nbsp;Nokia OYJ | 6.625% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2474 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;NortonLifeLock Inc. | 5.000% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2740 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Open Text Corp. | 3.875% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1612 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Open Text Corp. | 3.875% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1010 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Open Text Holdings Inc. | 4.125% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1098 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Open Text Holdings Inc. | 4.125% | 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 733 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Presidio Holdings Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2707 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Presidio Holdings Inc. | 8.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;PTC Inc. | 3.625% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;PTC Inc. | 4.000% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 348 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;SS&C Technologies Inc. | 5.500% | 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3836 |
|  | &nbsp;&nbsp;&nbsp;Western Digital Corp. | 4.750% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1415 |
|  | &nbsp;&nbsp;&nbsp;Xerox Corp. | 4.625% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Xerox Corp. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;Xerox Corp. | 6.750% | 12/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1040 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Xerox Holdings Corp. | 5.000% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Xerox Holdings Corp. | 5.500% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2167 |
|  |  |  |  |  | **49817** |

---

------

High Yield Bond Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| **Utilities (2.0%)** | **Utilities (2.0%)** | **Utilities (2.0%)** | **Utilities (2.0%)** | **Utilities (2.0%)** | **Utilities (2.0%)** |
|  | &nbsp;&nbsp;&nbsp;AmeriGas Partners LP / AmeriGas Finance Corp. | 5.625% | 5/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1824 |
|  | &nbsp;&nbsp;&nbsp;AmeriGas Partners LP / AmeriGas Finance Corp. | 5.500% | 5/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 716 |
|  | &nbsp;&nbsp;&nbsp;AmeriGas Partners LP / AmeriGas Finance Corp. | 5.875% | 8/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1680 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Clearway Energy Operating LLC | 4.750% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Clearway Energy Operating LLC | 3.750% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1978 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Clearway Energy Operating LLC | 3.750% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 |
|  | &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | 1.600% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 |
|  | &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | 4.400% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;NextEra Energy Operating Partners LP | 4.250% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 955 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;NextEra Energy Operating Partners LP | 4.250% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;NextEra Energy Operating Partners LP | 3.875% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2788 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;NextEra Energy Operating Partners LP | 4.500% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Suburban Propane Partners LP / Suburban Energy Finance Corp. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;TransAlta Corp. | 7.750% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC | 5.625% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
|  |  |  |  |  | **12319** |
| **Total Corporate Bonds (Cost $594,525)** | **Total Corporate Bonds (Cost $594,525)** | **Total Corporate Bonds (Cost $594,525)** | **Total Corporate Bonds (Cost $594,525)** | **Total Corporate Bonds (Cost $594,525)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**533295** |
| **Floating Rate Loan Interests (4.1%)** | **Floating Rate Loan Interests (4.1%)** | **Floating Rate Loan Interests (4.1%)** | **Floating Rate Loan Interests (4.1%)** | **Floating Rate Loan Interests (4.1%)** | **Floating Rate Loan Interests (4.1%)** |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;AAdvantage Loyalty IP Ltd. Term Loan, 3M USD LIBOR + 4.750% | 8.993% | 4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Asurion LLC 2nd Lien Term Loan B-4, 1M USD LIBOR + 5.250% | 9.634% | 1/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Asurion LLC Term Loan B-7, 1M USD LIBOR + 3.000% | 7.384% | 11/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1143 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Asurion LLC Term Loan B-8, 1M USD LIBOR + 3.250% | 7.637% | 12/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Asurion LLC Term Loan B-9, 1M USD LIBOR + 3.250% | 7.634% | 7/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Athenahealth Inc. Term Loan B, TSFR1M + 3.500% | 7.821% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 701 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Athenahealth Inc. Term Loan, TSFR1M + 3.500% | 7.821% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Axalta Coating Systems US Holdings Inc. Term Loan B, TSFR1M + 3.000% | 7.321% | 12/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Bombardier Recreational Products Inc. Term Loan B, TSFR1M + 3.500% | 7.836% | 12/13/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Brown Group Holding LLC Term Loan B, 1M USD LIBOR + 2.500% | 6.884% | &nbsp;&nbsp;&nbsp;&nbsp;6/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 904 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Chamberlain Group Inc. Term Loan B, 1M USD LIBOR + 3.500% | 7.634% | 11/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Chart Industries Inc. Term Loan B | 8.110% | 12/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Clarios Global LP Term Loan B, 1M USD LIBOR + 3.250% | 7.637% | 4/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1342 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;DirecTV Financing LLC Term Loan, 1M USD LIBOR + 5.000% | 9.384% | &nbsp;&nbsp;&nbsp;&nbsp;8/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Dun & Bradstreet Corp. Term Loan, 1M USD LIBOR + 3.250% | 7.639% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2664 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Great Outdoors Group LLC Term Loan B-1, 1M USD LIBOR + 3.750% | 8.134% | &nbsp;&nbsp;&nbsp;&nbsp;3/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Hilton Worldwide Finance LLC Term Loan B-2, 1M USD LIBOR + 1.750% | 6.173% | 6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;HUB International Ltd. Term Loan B, 3M USD LIBOR + 3.250% | 7.528% | 4/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 828 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;IRB Holding Corp. Term Loan B, TSFR1M + 3.000% | 7.317% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292 | &nbsp;&nbsp;&nbsp; 2219 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;McAfee Corp. Term Loan B, TSFR1M + 3.750% | 7.974% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299 | &nbsp;&nbsp; 1206 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Medline Borrower LP Term Loan B, 1M USD LIBOR + 3.250% | 7.634% | 10/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2799 | &nbsp;&nbsp; 2655 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Mileage Plus Holdings LLC Term Loan B, 3M USD LIBOR + 5.250% | 9.996% | 6/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp; 810 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;NorthRiver Midstream Finance LP Term Loan B, 3M USD LIBOR + 3.250% | 6.924% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp; 707 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Owens & Minor Inc. Term Loan B, TSFR1M + 3.750% | 7.831% | 3/29/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp; 317 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Peraton Corp. Term Loan B, 1M USD LIBOR + 3.750% | 8.139% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp; 382 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;SBA Senior Finance II LLC. Term Loan B, 1M USD LIBOR + 1.750% | 6.140% | 4/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896 | &nbsp;&nbsp; 892 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;SkyMiles IP Ltd. Term Loan B, 3M USD LIBOR + 3.750% | 7.634% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp; 778 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;SkyMiles IP Ltd. Term Loan B, 3M USD LIBOR + 3.750% | 7.993% | 10/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645 | &nbsp;&nbsp; 1675 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;SS&C European Holdings Sarl Term Loan B-4, 1M USD LIBOR + 1.750% | 6.134% | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp; 372 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;SS&C Technologies Inc. Term Loan B-3, 1M USD LIBOR + 1.750% | 6.134% | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp; 458 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;SS&C Technologies Inc. Term Loan B-5, 1M USD LIBOR + 1.750% | 6.134% | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628 | &nbsp;&nbsp;&nbsp; 617 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Tibco Software Inc. Term Loan, TSFR3M + 4.500% | 9.180% | 3/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp; 272 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Trans Union LLC Term Loan B-6, 1M USD LIBOR + 2.250% | 6.634% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354 | &nbsp;&nbsp; 1339 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;TransDigm Inc. Term Loan H, TSFR3M + 2.250% | 7.791% | 2/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Zayo Group Holdings Inc. Term Loan, 1M USD LIBOR + 3.000% | 7.384% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 218 |
| **Total Floating Rate Interests (Cost $26,618)** | **Total Floating Rate Interests (Cost $26,618)** | **Total Floating Rate Interests (Cost $26,618)** | **Total Floating Rate Interests (Cost $26,618)** | **Total Floating Rate Interests (Cost $26,618)** | &nbsp;&nbsp;&nbsp;**25980** |
|  |  |  |  | &nbsp;&nbsp;Shares |  |
| **Temporary Cash Investments (4.3%)** | **Temporary Cash Investments (4.3%)** | **Temporary Cash Investments (4.3%)** | **Temporary Cash Investments (4.3%)** | **Temporary Cash Investments (4.3%)** | **Temporary Cash Investments (4.3%)** |
| **Money Market Fund (1.9%)** | **Money Market Fund (1.9%)** | **Money Market Fund (1.9%)** | **Money Market Fund (1.9%)** | **Money Market Fund (1.9%)** | **Money Market Fund (1.9%)** |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund | 4.334% |  | 12154793 | &nbsp;&nbsp;&nbsp; 12154 |

---

------

High Yield Bond Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| **Repurchase Agreement (2.4%)** | **Repurchase Agreement (2.4%)** | **Repurchase Agreement (2.4%)** | **Repurchase Agreement (2.4%)** | **Repurchase Agreement (2.4%)** |
| &nbsp;&nbsp;&nbsp;Bank of America Securities LLC<br> (Dated 12/30/22, Repurchase Value $14,907,000, collateralized by Federal Home Loan Bank 2.540%–5.400%, 11/21/24–8/16/46, with a value of $15,201,000) | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;1/3/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14900 | &nbsp;&nbsp; 14900 |
| **Total Temporary Cash Investments (Cost $27,054)** | **Total Temporary Cash Investments (Cost $27,054)** | **Total Temporary Cash Investments (Cost $27,054)** | **Total Temporary Cash Investments (Cost $27,054)** | &nbsp;&nbsp;&nbsp;&nbsp;**27054** |
| **Total Investments (98.7%) (Cost $681,818)** | **Total Investments (98.7%) (Cost $681,818)** | **Total Investments (98.7%) (Cost $681,818)** | **Total Investments (98.7%) (Cost $681,818)** | &nbsp;&nbsp;**619570** |
| **Other Assets and Liabilities—Net (1.3%)** | **Other Assets and Liabilities—Net (1.3%)** | **Other Assets and Liabilities—Net (1.3%)** | **Other Assets and Liabilities—Net (1.3%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7953** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | &nbsp;&nbsp;**627523** |
| Cost is in $000. | Cost is in $000. |  |  |  |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| 1 | Securities with a value of $659,000 have been segregated as collateral for open forward currency contracts. |
| 2 | Securities with a value of $1,935,000 have been segregated as initial margin for open centrally cleared swap contracts. |
| 3 | Securities with a value of $184,000 have been segregated as initial margin for open futures contracts. |
| 4 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, the aggregate value was $360,180,000, representing 57.4% of net assets. |
| 5 | Face amount denominated in euro. |
| 6 | Face amount denominated in Canadian dollars. |
| 7 | Face amount denominated in British pounds. |
| 8 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
| 9 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
| 10 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
|  | 1M—1-month. |
|  | 3M—3-month. |
|  | DAC—Designated Activity Company. |
|  | LIBOR—London Interbank Offered Rate. |
|  | TSFR1M—CME Term Secured Overnight Financing Rate 1-Month. |
|  | TSFR3M—CME Term Secured Overnight Financing Rate 3-Month. |
|  | USD—U.S. dollar. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **<br>Other Financial Instruments as of Period End** | **<br>Other Financial Instruments as of Period End** | **<br>Other Financial Instruments as of Period End** | **<br>Other Financial Instruments as of Period End** | **<br>Other Financial Instruments as of Period End** |
| Floating Rate Loan Commitments |  |  |  |  |
|  | Total<br> Unfunded<br> Commitment<br> ($000) | Fair<br> Value<br> Commitment<br> ($000) | Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;Unrealized<br> Depreciation<br> ($000) |
| Athenahealth Inc. | 99 | 89 |  | &nbsp;&nbsp;(10) |

---

------

High Yield Bond Portfolio

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| 2-Year U.S. Treasury Note | March 2023 | 46 | 9434 | &nbsp;&nbsp;5 |
| 5-Year U.S. Treasury Note | March 2023 | 74 | 7987 | &nbsp;&nbsp;(40) |
| 10-Year U.S. Treasury Note | March 2023 | 13 | 1460 | &nbsp;&nbsp;(24) |
| Long U.S. Treasury Bond | March 2023 | 3 | 376 | &nbsp;&nbsp;(12) |
| Ultra 10-Year U.S. Treasury Note | March 2023 | 2 | 237 | &nbsp;&nbsp;(5) |
|  |  |  |  | &nbsp;&nbsp;(76) |
| Short Futures Contracts |  |  |  |  |
| 10-Year U.S. Treasury Note | March 2023 | (37) | (4155) | &nbsp;&nbsp;51 |
| Ultra 10-Year U.S. Treasury Note | March 2023 | (12) | (1419) | &nbsp;&nbsp;15 |
| Ultra Long U.S. Treasury Bond | March 2023 | (3) | (403) | &nbsp;&nbsp;4 |
|  |  |  |  | &nbsp;&nbsp;70 |
|  |  |  |  | &nbsp;&nbsp;(6) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts |
|  | Contract<br> Settlement<br> Date | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Depreciation<br> ($000) |  |
| Counterparty | Contract<br> Settlement<br> Date |  | &nbsp;&nbsp;&nbsp;Receive | &nbsp;&nbsp;&nbsp;Receive | &nbsp;&nbsp;&nbsp;Deliver | &nbsp;&nbsp;&nbsp;Deliver | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Depreciation<br> ($000) |
| UBS AG | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1885 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;2565 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(9) |  |
| UBS AG | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;21749 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;20383 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(117) |  |
| Barclays Bank plc | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1322 | &nbsp;&nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;1087 | &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;— |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;(126) |  |

---

---

| |
|:---|
| CAD—Canadian dollar. |
| EUR—euro. |
| GBP—British pound. |
| USD—U.S. dollar. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps |
| Reference Entity | Termination<br> Date | &nbsp;&nbsp;&nbsp;Notional Amount<br> (000) | &nbsp;&nbsp;&nbsp;Notional Amount<br> (000) | &nbsp;&nbsp;&nbsp;Periodic<br> Premium<br> Received<br> (Paid)<sup>1</sup><br> (%) | &nbsp;&nbsp;&nbsp;Value<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> (Depreciation)<br> ($000) |
| Credit Protection Sold |  |  |  |  |  |  |
| CDX-NA-HY-S39-V1 | 12/21/27 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;28580 | &nbsp;&nbsp;&nbsp;5.000 | &nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;707 |

---

1 Periodic premium received/paid quarterly. <br> USD—U.S. dollar.

The notional amount represents the maximum potential amount the portfolio could be required to pay as a seller of credit protection if the reference entity was subject to a credit event.

See accompanying Notes, which are an integral part of the Financial Statements.

------

High Yield Bond Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $669,664) | &nbsp;&nbsp;607416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $12,154) | &nbsp;&nbsp;&nbsp;&nbsp;12154 |
| Total Investments in Securities | &nbsp;&nbsp;619570 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 |
| Cash Collateral Pledged—Centrally Cleared Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 |
| Foreign Currency, at Value (Cost $246) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;8589 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 |
| Unrealized Appreciation—Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Receivables from Broker-Dealer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 |
| **Total Assets** | **630003** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;1630 |
| Payables to Investment Advisor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 |
| Unrealized Depreciation—Floating Rate Loan Commitments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Unrealized Depreciation—Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 |
| Variation Margin Payable—Centrally Cleared Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;**2480** |
| **Net Assets** | &nbsp;&nbsp;**627523** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;685897 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;(58374) |
| **Net Assets** | &nbsp;&nbsp;**627523** |
| **Net Assets** |  |
| **Applicable to 90,213,122 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**627523** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;**$6.96** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

High Yield Bond Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Interest<sup>1,2</sup> | 33805 |
| Total Income | 33805 |
| **Expenses** |  |
| Investment Advisory Fees—Note B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;1180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| Total Expenses | &nbsp;&nbsp;&nbsp;1691 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| Net Expenses | &nbsp;&nbsp;&nbsp;1686 |
| **Net Investment Income** | &nbsp;&nbsp;**32119** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>1</sup> | (19484) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;(297) |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;2601 |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49) |
| **Realized Net Gain (Loss)** | **(17182)** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>1</sup> | (86764) |
| Floating Rate Loan Commitments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707 |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| **Change in Unrealized Appreciation (Depreciation)** | **(85796)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(70859)** |

---

---

| | |
|:---|:---|
| 1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $134,000, $3,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
| 2 | Interest is net of foreign withholding taxes of $8,000. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;32119 | &nbsp;&nbsp;&nbsp;&nbsp;33835 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;(17182) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11770 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(85796) | &nbsp;&nbsp;&nbsp;&nbsp;(17094) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(70859) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28511 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;(33997) | &nbsp;&nbsp;&nbsp;&nbsp;(34925) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;105586 | &nbsp;&nbsp;&nbsp;&nbsp;118974 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;33997 | &nbsp;&nbsp;&nbsp;&nbsp;34925 |
| Redeemed | (185909) | &nbsp;&nbsp;&nbsp;(199987) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;(46326) | &nbsp;&nbsp;&nbsp;&nbsp;(46088) |
| Total Increase (Decrease) | &nbsp;&nbsp;(151182) | &nbsp;&nbsp;&nbsp;&nbsp;(52502) |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**778705** | &nbsp;&nbsp;&nbsp;&nbsp;**831207** |
| **End of Period** | &nbsp;&nbsp;&nbsp;**627523** | &nbsp;&nbsp;&nbsp;&nbsp;**778705** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

High Yield Bond Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$8.06** | &nbsp;&nbsp;&nbsp;**$8.12** | &nbsp;&nbsp;&nbsp;**$8.19** | &nbsp;&nbsp;&nbsp;**$7.53** | &nbsp;&nbsp;&nbsp;**$8.13** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.420 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;(1.074) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.053) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.636) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.729) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.374 | &nbsp;&nbsp;&nbsp;&nbsp;1.141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.216) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.444) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.481) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.384) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.444) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.481) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.384) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$6.96** | &nbsp;&nbsp;&nbsp;**$8.06** | &nbsp;&nbsp;&nbsp;**$8.12** | &nbsp;&nbsp;&nbsp;**$8.19** | &nbsp;&nbsp;&nbsp;**$7.53** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-9.23%** | &nbsp;&nbsp;&nbsp;**3.68%** | &nbsp;&nbsp;&nbsp;**5.67%** | &nbsp;&nbsp;&nbsp;**15.67%** | &nbsp;&nbsp;&nbsp;**-2.73%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$628 | &nbsp;&nbsp;&nbsp;$779 | &nbsp;&nbsp;&nbsp;$831 | &nbsp;&nbsp;&nbsp;$783 | &nbsp;&nbsp;&nbsp;$704 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;0.25%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.26% | &nbsp;&nbsp;&nbsp;0.26% | &nbsp;&nbsp;&nbsp;0.26% | &nbsp;&nbsp;&nbsp;0.26% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;4.82% | &nbsp;&nbsp;&nbsp;4.22% | &nbsp;&nbsp;&nbsp;4.57% | &nbsp;&nbsp;&nbsp;5.21% | &nbsp;&nbsp;&nbsp;5.39% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;34% | &nbsp;&nbsp;&nbsp;30% | &nbsp;&nbsp;&nbsp;41% | &nbsp;&nbsp;&nbsp;27% | &nbsp;&nbsp;&nbsp;23% |

---

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| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.25%. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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High Yield Bond Portfolio

Notes to Financial Statements

The High Yield Bond Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts. Certain of the portfolio's investments are in corporate debt instruments; the issuers' abilities to meet their obligations may be affected by economic developments in their respective industries. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the portfolio's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. Floating Rate Loan Interests: Floating rate loan interests represent interests in amounts owed by corporate or other borrowers. These instruments may be in the form of loans, trade claims or other receivables and may include standby financing commitments such as revolving credit facilities that obligate the portfolio to supply additional cash to the borrower on demand. Floating rate loan interests may be made directly with a borrower or acquired through assignment or participation. The portfolio's right to enforce a borrower's compliance with the terms of the loan agreement, or benefit directly from the collateral supporting the loan, varies when the loan is a direct borrowing, an assignment, or a participation. Floating rate loan interests involve various risks including risk of loss in case of default, insolvency, or the bankruptcy of the borrower and are generally subject to restrictions on transfer with limited opportunities to sell them in secondary markets. The portfolio may also invest in loan commitments, which are contractual obligations for a future funding. The portfolio may earn a commitment fee on any unfunded portion of these commitments which is amortized to interest income over the commitment period. Both the funded portion of a floating rate loan interest as well as its unfunded commitment, if any, is reflected on the Schedule of Investments.

4. Repurchase Agreements: The portfolio enters into repurchase agreements with institutional counterparties. Securities pledged as collateral to the portfolio under repurchase agreements are held by a custodian bank until the agreements mature, and in the absence of a default, such collateral cannot be repledged, resold, or rehypothecated. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal. The portfolio further mitigates its counterparty risk by entering into repurchase agreements only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master repurchase agreements with its counterparties. The master repurchase agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any repurchase agreements with that counterparty, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio. Such action may be subject to legal proceedings, which may delay or limit the disposition of collateral.

5. Futures Contracts: The portfolio uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse

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High Yield Bond Portfolio

is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 1% and less than 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

6. Forward Currency Contracts: The portfolio enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. The portfolio's risks in using these contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts. The portfolio mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate the forward currency contracts, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the portfolio under the master netting arrangements. The forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the portfolio's net assets decline below a certain level, triggering a payment by the portfolio if the portfolio is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the portfolio has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

Forward currency contracts are valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on forward currency contracts.

During the year ended December 31, 2022, the portfolio's average investment in forward currency contracts represented 4% of net assets, based on the average of the notional amounts at each quarter-end during the period.

7. Swap Contracts: The portfolio invests in credit default swaps to adjust the overall credit risk of the portfolio or to actively overweight or underweight credit risk to a specific issuer or group of issuers. The portfolio may sell credit protection through credit default swaps to simulate investments in long positions that are either unavailable or considered to be less attractively priced in the bond market. The portfolio may purchase credit protection through credit default swaps to reduce credit exposure to a given issuer or issuers. Under the terms of the swaps, an up-front payment may be exchanged between the seller and buyer. In addition, the seller of the credit protection receives a periodic payment of premium from the buyer that is a fixed percentage applied to a notional amount. If, for example, the reference entity is subject to a credit event (such as bankruptcy, failure to pay, or obligation acceleration) during the term of the swap, the seller agrees to either physically settle or cash settle the swap contract. If the swap is physically settled, the seller agrees to pay the buyer an amount equal to the notional amount and take delivery of a debt instrument of the reference issuer with a par amount equal to such notional amount. If the swap is cash settled, the seller agrees to pay the buyer the difference between the notional amount and the final price for the relevant debt instrument, as determined either in a market auction or pursuant to a pre-agreed-upon valuation procedure.

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High Yield Bond Portfolio

The portfolio enters into centrally cleared credit default swaps to achieve the same objectives specified with respect to the equivalent over-the-counter swaps but with less counterparty risk because a regulated clearinghouse is the counterparty instead of the clearing broker or executing broker. The clearinghouse imposes initial margin requirements to secure the portfolio's performance, and requires daily settlement of variation margin representing changes in the market value of each contract. To further mitigate counterparty risk, the portfolio trades with a diverse group of prequalified executing brokers; monitors the financial strength of its clearing brokers, executing brokers, and clearinghouse; and has entered into agreements with its clearing brokers and executing brokers.

The primary risk associated with selling credit protection is that, upon the occurrence of a defined credit event, the market value of the debt instrument received by the portfolio (or, in a cash settled swap, the debt instruments used to determine the settlement payment by the portfolio) will be significantly less than the amount paid by the portfolio and, in a physically settled swap, the portfolio may receive an illiquid debt instrument. A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the portfolio. The portfolio's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The portfolio mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the portfolio may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the portfolio under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the portfolio's net assets decline below a certain level, triggering a payment by the portfolio if the portfolio is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the portfolio has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the seller of credit protection is required to take delivery (or, in a cash settled swap, pay the settlement amount determined) upon occurrence of a credit event, periodic payments are made, or the swap terminates, at which time realized gain (loss) is recorded. The net premium to be received or paid by the portfolio under swap contracts is accrued daily and recorded as realized gain (loss) over the life of the contract.

During the year ended December 31, 2022, the portfolio's average amounts of investments in credit protection sold and credit protection purchased represented 2% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

8. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

9. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

10. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in

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High Yield Bond Portfolio

Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

11. Other: Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** Wellington Management Company llp provides investment advisory services to a portion of the portfolio for a fee calculated at an annual percentage rate of average net assets managed by the advisor.

Beginning August 2022, Vanguard provides investment advisory services to a portion of the portfolio as described below; the portfolio paid Vanguard advisory fees of $6,000 for the year ended December 31, 2022.

For the year ended December 31, 2022, the aggregate investment advisory fee paid to all advisors represented an effective annual rate of 0.05% of the portfolio's average net assets.

**C.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative,
marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of
trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $22,000, representing less than 0.01% of the portfolio's net assets and 0.01% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**D.** The portfolio's custodian bank has agreed to reduce its fees when the portfolio maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset
arrangements reduced the portfolio's expenses by $5,000 (an annual rate of less than 0.01% of average net assets).

**E.** Various inputs may be used to determine the value of the portfolio's investments, other financial instruments, and derivatives. These inputs are summarized in three broad levels
for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments, other financial instruments, and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

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High Yield Bond Portfolio

The following table summarizes the market value of the portfolio's investments, other financial instruments, and derivatives as of December 31, 2022, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| U.S. Government and Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;33241 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;33241 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;533295 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;533295 |
| Floating Rate Loan Interests | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;25980 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;25980 |
| Temporary Cash Investments | 12154 | &nbsp;&nbsp;&nbsp;&nbsp;14900 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;27054 |
| Total | 12154 | &nbsp;&nbsp;&nbsp;607416 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;619570 |
| **Other Financial Instruments** |  |  |  |  |
| Liabilities |  |  |  |  |
| Floating Rate Loan Commitments |  | &nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;10 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Swap Contracts | 707<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;707 |
| Total | &nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;789 |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;81 |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;126 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;207 |

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1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

**F.** At December 31, 2022, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Statement of Assets and Liabilities | Interest Rate<br> Contracts<br> ($000) | Foreign<br> Exchange<br> Contracts<br> ($000) | Credit<br> Contracts<br> ($000) | &nbsp;&nbsp;Total<br> ($000) |
| Unrealized Appreciation—Futures Contracts<sup>1</sup> | 75 |  |  | &nbsp;&nbsp;75 |
| Unrealized Appreciation—Centrally Cleared Swap Contracts<sup>1</sup> |  |  | 707 | &nbsp;&nbsp;707 |
| Unrealized Appreciation—Forward Currency Contracts |  | 7 |  | &nbsp;&nbsp;7 |
| Total Assets | 75 | 7 | 707 | &nbsp;&nbsp;789 |
| Unrealized Depreciation—Futures Contracts<sup>1</sup> | 81 |  |  | &nbsp;&nbsp;81 |
| Unrealized Depreciation—Forward Currency Contracts |  | 126 |  | &nbsp;&nbsp;126 |
| Liabilities | 81 | 126 |  | &nbsp;&nbsp;207 |

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1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

Realized net gain (loss) and the change in unrealized appreciation (depreciation) on derivatives for the year ended December 31, 2022, were:

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| | | | | |
|:---|:---|:---|:---|:---|
| Realized Net Gain (Loss) on Derivatives | Interest Rate<br> Contracts<br> ($000) | Foreign<br> Exchange<br> Contracts<br> ($000) | Credit<br> Contracts<br> ($000) | &nbsp;&nbsp;Total<br> ($000) |
| Futures Contracts | 47 |  |  | &nbsp;&nbsp;47 |
| Swap Contracts |  |  | (297) | &nbsp;&nbsp;(297) |
| Forward Currency Contracts |  | 2601 |  | &nbsp;&nbsp;2601 |
| Realized Net Gain (Loss) on Derivatives | 47 | 2601 | (297) | &nbsp;&nbsp;2351 |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives |
| Futures Contracts | (6) |  |  | &nbsp;&nbsp;(6) |
| Swap Contracts |  |  | 707 | &nbsp;&nbsp;707 |
| Forward Currency Contracts |  | 264 |  | &nbsp;&nbsp;264 |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | (6) | 264 | 707 | &nbsp;&nbsp;965 |

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**G.** Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These

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High Yield Bond Portfolio

reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable foreign currency transactions and swap agreements were reclassified between the individual components of total distributable earnings (loss).

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; the recognition of unrealized gains or losses from certain derivative contracts; the recognition of gain or loss from foreign currency hedges; and the treatment of amortization adjustments from certain fixed income securities. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;31385 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;(29900) |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(59859) |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;33997 | &nbsp;&nbsp;&nbsp;&nbsp;34925 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total | &nbsp;&nbsp;&nbsp;33997 | &nbsp;&nbsp;&nbsp;&nbsp;34925 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments, derivatives, and loan commitments based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;680180 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(64191) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(59859) |

---

**H.** During the year ended December 31, 2022, the portfolio purchased $175,252,000 of investment securities and sold $244,751,000 of investment securities, other than U.S. government securities and temporary cash
investments. Purchases and sales of U.S. government securities were $37,894,000 and $16,092,000, respectively.

**I.** Capital shares issued and redeemed were:

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| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;14561 | &nbsp;&nbsp;&nbsp;&nbsp;14871 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;4683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4518 |
| Redeemed | (25684) | &nbsp;&nbsp;(25144) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;(6440) | &nbsp;&nbsp;&nbsp;&nbsp;(5755) |

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At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 42% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**J.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of High Yield Bond Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of High Yield Bond Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP <br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

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#### Tax information (unaudited)
The portfolio hereby designates $83,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio hereby designates 94.3%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of Section 163(j) and the regulations thereunder for the fiscal year.

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Trustees Approve Advisory Arrangement

Effective August 29, 2022, the board of trustees of Vanguard Variable Insurance Funds High Yield Bond Portfolio has approved a restructuring of the portfolio's investment advisory arrangements whereby The Vanguard Group, Inc. (Vanguard), through its Fixed Income Group, has been added as an advisor to the portfolio. The board determined that the foregoing action was in the best interest of the portfolio. As of August 29, 2022, Wellington Management Company llp and Vanguard are advisors to the portfolio.

The board based its decision upon an evaluation of the advisor's investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard's Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The trustees considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangement. Rather, it was the totality of the circumstances that drove the board's decision.

#### Nature, extent, and quality of services
The board reviewed the quality of the investment management services to be provided to the portfolio, and took into account the organizational depth and stability of the advisor. The board noted that Vanguard has been managing investments for more than four decades. The Fixed Income Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability and depth.

The board concluded that the Vanguard's experience, stability, depth, and performance, among other factors, warranted approval of the advisory arrangement.

#### Investment performance
The board considered that Vanguard, in its management of another fund, has a track record of successfully managing its strategy, and considered periods of outperformance or underperformance compared with a relevant benchmark index.

#### Cost
The board considered the cost of services to be provided and competitive fee rates and concluded that, after implementation of the new arrangement with Vanguard, the portfolio's advisory fee rate and expense ratio would remain below those of the portfolio's peers.

The board does not conduct a profitability analysis of Vanguard because of Vanguard's unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.

#### The benefit of economies of scale
The board concluded that the portfolio's arrangement with Vanguard ensures that the portfolio will realize economies of scale as it grows, with the cost to shareholders declining as portfolio assets managed by Vanguard increase.

The board will consider whether to renew the advisory arrangement again after a one-year period.

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"Bloomberg®," Bloomberg U.S. Corporate High Yield Bond Index, Bloomberg U.S. High Yield Ba/B 2% Issuer Capped Index, and Bloomberg U.S. 1–5 Year Treasury Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).

The High Yield Bond Portfolio is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the High Yield Bond Portfolio or any member of the public regarding the advisability of investing in securities generally or in the High Yield Bond Portfolio particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Corporate High Yield Bond Index, Bloomberg U.S. High Yield Ba/B 2% Issuer Capped Index, and Bloomberg U.S. 1–5 Year Treasury Bond Index (the Indices), which are determined, composed and calculated by BISL without regard to Vanguard or the High Yield Bond Portfolio. Bloomberg has no obligation to take the needs of Vanguard or the owners of the High Yield Bond Portfolio into consideration in determining, composing or calculating the Indices. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the High Yield Bond Portfolio to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to High Yield Bond Portfolio customers, in connection with the administration, marketing or trading of the High Yield Bond Portfolio.

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE HIGH YIELD BOND PORTFOLIO OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDICES OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE HIGH YIELD BOND PORTFOLIO OR THE INDICES OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.© 2023 Bloomberg.

Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

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| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

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![](tm231735d7hghyeldbndi006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

#### CFA<sup>®</sup> is a registered trademark owned by CFA Institute.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690HY 022023

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![](tm231735d7intrnlporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
International Portfolio

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*Contents*

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| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| Advisors' Report<br>| 2 |
| About Your Portfolio's Expenses<br>| 4 |
| Performance Summary<br>| 5 |
| Financial Statements<br>| 7 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

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Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The International Portfolio returned –30.12%, lagging the
 –16.00% return of the MSCI All Country World Index ex USA.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.

• With the exception of energy, all sectors posted negative returns for both the portfolio and the benchmark. The portfolio's energy stocks had stellar returns but they made up roughly only 2% of the
portfolio's weighting. The biggest detractors from relative performance were an overweight to the poorly performing consumer discretionary sector and stock selection in that sector.

• For the decade ended December 31, 2022, the portfolio posted an annualized return of 7.58%, almost double that of its benchmark.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

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| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

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Advisors' Report

The International Portfolio returned –30.12% for the 12 months ended December 31, 2022. That was lower than the –16.00% return of its benchmark, the MSCI All Country World Index ex USA.

The portfolio is overseen by two independent advisors, a strategy that enhances its diversification by providing exposure to distinct yet complementary investment approaches. It is not uncommon for different advisors to have different views about individual securities or the broader investment environment.

The advisors, the amount and percentage of the portfolio's assets each manages, and brief descriptions of their investment strategies are presented in the accompanying table. Each advisor has also prepared a discussion of the investment environment that existed during the period and of the effect it had on the portfolio's positioning. These reports were prepared on January 6, 2023.

#### Baillie Gifford Overseas Ltd.
Portfolio Managers:

Thomas Coutts, Partner

Lawrence Burns, Partner

The year 2022 proved to be an exceptionally difficult period for investors in growth equities. Society's return toward normality after an unprecedented shutdown revealed supply chain disruptions that were more widespread and longer-lasting than expected. Russia's shocking invasion of Ukraine seriously exacerbated inflation through its impact on the energy sector. It also raised fears about geopolitical instability across the Taiwan Strait.

Concerns about geopolitical risk combined with the rise in interest rates reduced the valuations that investors were willing to pay for profits expected to be made years in the future. Many companies that had performed strongly during the pandemic returned to their share-price levels of several years ago, despite making considerable progress in the interim.

Beneficiaries of the pandemic such as clothing e-commerce specialist Zalando, meal-kit company HelloFresh, and takeout delivery business Delivery Hero also sold off heavily as concerns increased about consumer spending and the changing balance between online and in-person activity. Our holding in Tesla also declined sharply because of concerns about future demand and the distraction of CEO Elon Musk's involvement in Twitter.

An extensive period of company meetings and analysis has reinforced our confidence in the position of the portfolio. The management teams of our holdings report that the growth drivers propelling their businesses remain generally intact. We are encouraging them to continue investing for the long term, while being mindful of the difficult economic conditions many are likely to face in the near future. We are also encouraged by our analysis of the financial resilience of our holdings. They have the profitability, cash flow, and balance sheet strength to navigate a cyclical downturn. Indeed, this should be a good period for our well-financed, long-term-oriented companies to strengthen their market positions.

We have initiated or increased our positions in attractive growth stocks that

We funded these new holdings with reductions of slower-growth companies that have held up better, including Kering, Ping An, and L'Oreal. We reduced holdings of two large Chinese internet companies, Alibaba and Tencent. We sold out of the auto manufacturer Stellantis. We exited our position in Afterpay following its takeover by Block. We also sold TAL Education, MorphoSys, SoftBank, and CureVac after their investment cases deteriorated significantly.

#### Schroder Investment Management North America Inc.
Portfolio Managers:

Simon Webber, CFA

James R. Gautrey, CFA

International equities ended 2022 sharply lower, as the market contended with slowing economic growth, inflationary pressures, and tightening monetary policy. This was made worse by Russia's invasion of Ukraine, which exerted significant pressure on energy prices and supply, particularly in Europe. Geopolitical tensions between China and the West also remained high as Xi Jinping's consolidation of power raised concerns about increased government interference in the private sector and China's ambitions toward "reunification" with Taiwan. The euro, yen, and sterling pound fell to near multidecade lows against the U.S. dollar.

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Cyclically exposed sectors such as consumer discretionary, technology, and industrials faced the most selling pressure while defensive sectors were more resilient. Commodity sectors benefited from the inflationary environment and both value stocks and the financial sector were supported by rising interest rates globally. The energy sector was the only major sector to post gains during the year as sanctions against Russian oil and gas kept upward pressure on prices. Our stock selection in the energy and financial sectors was particularly supportive during the year. However, our selection in industrials, consumer staples, and materials detracted from performance.

Our holding in Shell was a strong performer throughout 2022, driven by higher oil and gas prices. Shell continues to generate very strong cash flow, which has helped reduce debt, strengthen its balance sheet, and provide greater flexibility for capital allocation. We believe the company is managing its energy transition risk better than many of its industry peers through investments in electrification, hydrogen, wind, and alternative energy assets.

One of the major detractors during the year was our holding in Recruit, the global recruitment and human resources technology company. Fears that the looming global slowdown would lead to a slump in the global jobs market weighed on its shares. However, Recruit, which operates the Glassdoor and Indeed job recruitment websites, still has a large opportunity to grow by addressing inefficiencies in the global recruitment market. We have conviction that this growth will overcome the markets' cyclical worries.

Global equities remain under pressure entering 2023 amid geopolitical tensions, high inflation, tightening monetary policy, and, ultimately, earnings risks that look inevitable as the economic cycle slows. Inflationary pressures have strained consumer spending and, with central banks focused on combating inflation, interest rates have been rising rapidly, further weighing on consumer confidence. Supply chain pressures are easing, which is good news for both shortages and inflation.

We believe that low expectations in many parts of the economy will create

opportunities for patient and selective investors in 2023. The portfolio has good exposure to climate tech and companies well-positioned for the clean-energy transition across the materials, industrial, technology, and utilities sectors. We continue to find many good long-term core holdings in technology, where long-term structural drivers such as digitization, connectivity, and the energy transition are supporting growth, but where fears of a cyclical downturn have brought valuations back to attractive levels.

We are also finding interesting opportunities in financials, where the combination of low expectations, cheap valuations, strong capital buffers, and rising rates are creating an attractive opportunistic backdrop for earnings growth. Overall, we maintain a well-diversified portfolio that reflects a fluid outlook with a wide range of possible outcomes. At a stock level, we continue to emphasize revenue and earnings stability as well as balance sheet strength, which we expect to be rewarded during periods of elevated risk.

International Portfolio Investment Advisors

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| | | | |
|:---|:---|:---|:---|
|  | Portfolio Assets Managed | Portfolio Assets Managed |  |
| Investment Advisor | % | &nbsp;&nbsp;&nbsp;$ Million | &nbsp;&nbsp;&nbsp;Investment Strategy |
| Baillie Gifford Overseas Ltd. | 60 | &nbsp;&nbsp;&nbsp;1714 | &nbsp;&nbsp;&nbsp;Uses a bottom-up, stock-driven approach to select stocks that it believes have above-average growth rates and trade at reasonable prices. |
| Schroder Investment Management North America Inc. | 36 | &nbsp;&nbsp;&nbsp;1023 | &nbsp;&nbsp;&nbsp;Uses fundamental research to identify high-quality companies in developed and emerging markets that it believes have above-average growth potential. |
| Cash Investments | &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;These short-term reserves are invested by Vanguard in equity index products to simulate investment in stocks. Each advisor also may maintain a modest cash position. |

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| International Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1012.60 | &nbsp;&nbsp;&nbsp;&nbsp;$2.13 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.42%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

International Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7intrnlporti002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7intrnlporti003.jpg) | &nbsp;&nbsp;&nbsp;International Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-30.12% | &nbsp;&nbsp;&nbsp;&nbsp;4.45% | &nbsp;&nbsp;&nbsp;&nbsp;7.58% | &nbsp;&nbsp;&nbsp;&nbsp;$20763 |
| ![](tm231735d7intrnlporti004.jpg) | &nbsp;&nbsp;&nbsp;MSCI All Country World Index ex USA | &nbsp;&nbsp;&nbsp;&nbsp;-16.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;3.80 | &nbsp;&nbsp;&nbsp;&nbsp;14520 |

---

See Financial Highlights for dividend and capital gains information.

------

International Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| China | 12.1% |
| United States | 12.0 |
| Netherlands | &nbsp;&nbsp;9.8 |
| United Kingdom | &nbsp;&nbsp;&nbsp;7.8 |
| Japan | &nbsp;&nbsp;&nbsp;7.5 |
| Germany | &nbsp;&nbsp;&nbsp;7.1 |
| France | &nbsp;&nbsp;6.1 |
| Denmark | &nbsp;&nbsp;5.9 |
| Sweden | &nbsp;&nbsp;4.0 |
| Belgium | &nbsp;&nbsp;3.8 |
| Switzerland | &nbsp;&nbsp;3.7 |
| Taiwan | &nbsp;&nbsp;2.9 |
| Italy | &nbsp;&nbsp;2.8 |
| Hong Kong | &nbsp;&nbsp;2.4 |
| India | &nbsp;&nbsp;2.3 |
| South Korea | &nbsp;&nbsp;&nbsp;1.9 |
| Canada | &nbsp;&nbsp;&nbsp;1.6 |
| Norway | &nbsp;&nbsp;&nbsp;1.2 |
| Brazil | &nbsp;&nbsp;&nbsp;1.1 |
| Spain | &nbsp;&nbsp;&nbsp;1.1 |
| Israel | &nbsp;&nbsp;&nbsp;1.0 |
| Other | &nbsp;&nbsp;&nbsp;1.9 |

---

The table reflects the portfolio's investments, except for short-term investments and derivatives.

------

International Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Common Stocks (95.9%)** | **Common Stocks (95.9%)** | **Common Stocks (95.9%)** | **Common Stocks (95.9%)** |
| **Australia (0.7%)** | **Australia (0.7%)** | **Australia (0.7%)** | **Australia (0.7%)** |
|  | &nbsp;&nbsp;&nbsp;WiseTech Global Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;594267 | &nbsp;&nbsp;&nbsp;&nbsp;20438 |
| **Austria (0.5%)** | **Austria (0.5%)** | **Austria (0.5%)** | **Austria (0.5%)** |
|  | &nbsp;&nbsp;&nbsp;Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;434581 | &nbsp;&nbsp;&nbsp;&nbsp;13904 |
| **Belgium (3.6%)** | **Belgium (3.6%)** | **Belgium (3.6%)** | **Belgium (3.6%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Argenx SE | &nbsp;&nbsp;&nbsp;&nbsp;142336 | &nbsp;&nbsp;&nbsp;&nbsp;53434 |
|  | &nbsp;&nbsp;&nbsp;Umicore SA | 1065272 | &nbsp;&nbsp;&nbsp;&nbsp;39180 |
|  | &nbsp;&nbsp;&nbsp;UCB SA | &nbsp;&nbsp;&nbsp;&nbsp;127796 | &nbsp;&nbsp;&nbsp;&nbsp;10070 |
|  |  |  | **102684** |
| **Brazil (1.0%)** | **Brazil (1.0%)** | **Brazil (1.0%)** | **Brazil (1.0%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NU Holdings Ltd. Class A | 2758049 | &nbsp;&nbsp;&nbsp;&nbsp;11225 |
|  | &nbsp;&nbsp;&nbsp;B3 SA - Brasil Bolsa Balcao | 3878590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9691 |
|  | &nbsp;&nbsp;&nbsp;Raia Drogasil SA | 1824750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8218 |
|  |  |  | **29134** |
| **Canada (1.5%)** | **Canada (1.5%)** | **Canada (1.5%)** | **Canada (1.5%)** |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;&nbsp;406848 | &nbsp;&nbsp;&nbsp;&nbsp;26343 |
|  | &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp;134012 | &nbsp;&nbsp;&nbsp;&nbsp;15919 |
|  |  |  | **42262** |
| **China (11.6%)** | **China (11.6%)** | **China (11.6%)** | **China (11.6%)** |
|  | &nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. | 2380600 | &nbsp;&nbsp;&nbsp;&nbsp;100938 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Meituan Class B | 2796922 | &nbsp;&nbsp;&nbsp;&nbsp;61968 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 3234604 | &nbsp;&nbsp;&nbsp;&nbsp;35493 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NIO Inc. ADR | 2400534 | &nbsp;&nbsp;&nbsp;&nbsp;23405 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Wuxi Biologics Cayman Inc. | 2378000 | &nbsp;&nbsp;&nbsp;&nbsp;18011 |
|  | &nbsp;&nbsp;&nbsp;Ping An Insurance Group Co. of China Ltd. Class H | 2714000 | &nbsp;&nbsp;&nbsp;&nbsp;17830 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Baidu Inc. ADR | &nbsp;&nbsp;&nbsp;&nbsp;126280 | &nbsp;&nbsp;&nbsp;&nbsp;14444 |
|  | &nbsp;&nbsp;&nbsp;JD.com Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;448338 | &nbsp;&nbsp;&nbsp;&nbsp;12516 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Pinduoduo Inc. ADR | &nbsp;&nbsp;&nbsp;&nbsp;135710 | &nbsp;&nbsp;&nbsp;&nbsp;11067 |
|  | &nbsp;&nbsp;&nbsp;Shenzhen Inovance Technology Co. Ltd. Class A | 1025121 | &nbsp;&nbsp;&nbsp;&nbsp;10229 |
|  | &nbsp;&nbsp;&nbsp;China Mengniu Dairy Co. Ltd. | 1979000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8924 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Ganfeng Lithium Co. Ltd. Class H | 1113400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8254 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Full Truck Alliance Co. Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;740642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5925 |
|  |  |  | **329004** |
| **Denmark (5.7%)** | **Denmark (5.7%)** | **Denmark (5.7%)** | **Denmark (5.7%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Genmab A/S | &nbsp;&nbsp;&nbsp;&nbsp;159318 | &nbsp;&nbsp;&nbsp;&nbsp;67359 |
|  | &nbsp;&nbsp;&nbsp;Vestas Wind Systems A/S | 2015985 | &nbsp;&nbsp;&nbsp;&nbsp;58808 |
|  | &nbsp;&nbsp;&nbsp;Novo Nordisk A/S Class B | &nbsp;&nbsp;&nbsp;&nbsp;116973 | &nbsp;&nbsp;&nbsp;&nbsp;15887 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ambu A/S Class B | &nbsp;&nbsp;&nbsp;&nbsp;860929 | &nbsp;&nbsp;&nbsp;&nbsp;11056 |
|  | &nbsp;&nbsp;&nbsp;Novozymes A/S Class B | &nbsp;&nbsp;&nbsp;&nbsp;146979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7457 |
|  |  |  | **160567** |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **France (5.8%)** | **France (5.8%)** | **France (5.8%)** | **France (5.8%)** |
|  | &nbsp;&nbsp;&nbsp;Kering SA | &nbsp;&nbsp;&nbsp;&nbsp;142767 | &nbsp;&nbsp;&nbsp;&nbsp;72658 |
|  | &nbsp;&nbsp;&nbsp;L'Oreal SA (XPAR) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91012 | &nbsp;&nbsp;&nbsp;&nbsp;32591 |
|  | &nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;195057 | &nbsp;&nbsp;&nbsp;&nbsp;27393 |
|  | &nbsp;&nbsp;&nbsp;Sanofi | &nbsp;&nbsp;&nbsp;&nbsp;175573 | &nbsp;&nbsp;&nbsp;&nbsp;16930 |
|  | &nbsp;&nbsp;&nbsp;Carrefour SA | &nbsp;&nbsp;&nbsp;&nbsp;549129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9185 |
|  | &nbsp;&nbsp;&nbsp;Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7261 |
|  |  |  | **166018** |
| **Germany (6.9%)** | **Germany (6.9%)** | **Germany (6.9%)** | **Germany (6.9%)** |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Zalando SE | &nbsp;&nbsp;&nbsp;&nbsp;914402 | &nbsp;&nbsp;&nbsp;&nbsp;32191 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Delivery Hero SE | &nbsp;&nbsp;&nbsp;&nbsp;623581 | &nbsp;&nbsp;&nbsp;&nbsp;29925 |
|  | &nbsp;&nbsp;&nbsp;Sartorius AG Preference Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69113 | &nbsp;&nbsp;&nbsp;&nbsp;27291 |
|  | &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp;258891 | &nbsp;&nbsp;&nbsp;&nbsp;22921 |
|  | &nbsp;&nbsp;&nbsp;SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;209312 | &nbsp;&nbsp;&nbsp;&nbsp;21610 |
|  | &nbsp;&nbsp;&nbsp;Infineon Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;702915 | &nbsp;&nbsp;&nbsp;&nbsp;21363 |
|  | &nbsp;&nbsp;&nbsp;Siemens AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;107695 | &nbsp;&nbsp;&nbsp;&nbsp;14846 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;HelloFresh SE | &nbsp;&nbsp;&nbsp;&nbsp;648450 | &nbsp;&nbsp;&nbsp;&nbsp;14152 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dr. Ing Hc F Porsche AG Preference Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7490 |
| <sup>\*,2</sup> | &nbsp;&nbsp;&nbsp;Jumia Technologies AG ADR | &nbsp;&nbsp;&nbsp;&nbsp;477446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Home24 SE | &nbsp;&nbsp;&nbsp;&nbsp;156566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250 |
|  |  |  | **194572** |
| **Hong Kong (2.3%)** | **Hong Kong (2.3%)** | **Hong Kong (2.3%)** | **Hong Kong (2.3%)** |
|  | &nbsp;&nbsp;&nbsp;AIA Group Ltd. | 3438200 | &nbsp;&nbsp;&nbsp;&nbsp;37969 |
|  | &nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;483840 | &nbsp;&nbsp;&nbsp;&nbsp;20791 |
|  | &nbsp;&nbsp;&nbsp;BOC Hong Kong Holdings Ltd. | 2352000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7985 |
|  |  |  | **66745** |
| **India (2.2%)** | **India (2.2%)** | **India (2.2%)** | **India (2.2%)** |
|  | &nbsp;&nbsp;&nbsp;Housing Development Finance Corp. Ltd. | 1000325 | &nbsp;&nbsp;&nbsp;&nbsp;31801 |
|  | &nbsp;&nbsp;&nbsp;HDFC Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;997946 | &nbsp;&nbsp;&nbsp;&nbsp;19573 |
|  | &nbsp;&nbsp;&nbsp;Larsen & Toubro Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;234582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5896 |
| <sup>\*,3,4</sup> | &nbsp;&nbsp;&nbsp;ANI Technologies Private Ltd. PP (Acquired 12/1/15, Cost $5,969) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5193 |
|  |  |  | **62463** |
| **Indonesia (0.3%)** | **Indonesia (0.3%)** | **Indonesia (0.3%)** | **Indonesia (0.3%)** |
|  | &nbsp;&nbsp;&nbsp;Bank Central Asia Tbk PT | 17673600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9691 |
| **Israel (1.0%)** | **Israel (1.0%)** | **Israel (1.0%)** | **Israel (1.0%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Wix.com Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;257526 | &nbsp;&nbsp;&nbsp;&nbsp;19786 |
| <sup>\*,2</sup> | &nbsp;&nbsp;&nbsp;Mobileye Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;235139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8244 |
|  |  |  | **28030** |
| **Italy (2.6%)** | **Italy (2.6%)** | **Italy (2.6%)** | **Italy (2.6%)** |
|  | &nbsp;&nbsp;&nbsp;Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;184839 | &nbsp;&nbsp;&nbsp;&nbsp;39636 |
|  | &nbsp;&nbsp;&nbsp;FinecoBank Banca Fineco SpA | &nbsp;&nbsp;&nbsp;&nbsp;806728 | &nbsp;&nbsp;&nbsp;&nbsp;13397 |
|  | &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | 5811409 | &nbsp;&nbsp;&nbsp;&nbsp;12875 |
|  | &nbsp;&nbsp;&nbsp;Prysmian SpA | &nbsp;&nbsp;&nbsp;&nbsp;243220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9037 |
|  |  |  | **74945** |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **Japan (7.2%)** | **Japan (7.2%)** | **Japan (7.2%)** | **Japan (7.2%)** |
|  | &nbsp;&nbsp;&nbsp;M3 Inc. | 1453400 | &nbsp;&nbsp;&nbsp;&nbsp;39479 |
|  | &nbsp;&nbsp;&nbsp;Nidec Corp. | &nbsp;&nbsp;&nbsp;&nbsp;637100 | &nbsp;&nbsp;&nbsp;&nbsp;32785 |
|  | &nbsp;&nbsp;&nbsp;SMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68700 | &nbsp;&nbsp;&nbsp;&nbsp;28686 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2904500 | &nbsp;&nbsp;&nbsp;&nbsp;19499 |
|  | &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;17836 |
|  | &nbsp;&nbsp;&nbsp;Bridgestone Corp. | &nbsp;&nbsp;&nbsp;&nbsp;389400 | &nbsp;&nbsp;&nbsp;&nbsp;13788 |
|  | &nbsp;&nbsp;&nbsp;Recruit Holdings Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;268800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8414 |
|  | &nbsp;&nbsp;&nbsp;KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;244700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7421 |
|  | &nbsp;&nbsp;&nbsp;Keyence Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7260 |
|  | &nbsp;&nbsp;&nbsp;Sekisui Chemical Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;502000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6997 |
|  | &nbsp;&nbsp;&nbsp;Murata Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;130900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6455 |
|  | &nbsp;&nbsp;&nbsp;SBI Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;293000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5583 |
|  | &nbsp;&nbsp;&nbsp;Kubota Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5474 |
|  | &nbsp;&nbsp;&nbsp;MISUMI Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;202500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4401 |
|  |  |  | **204078** |
| **Netherlands (9.4%)** | **Netherlands (9.4%)** | **Netherlands (9.4%)** | **Netherlands (9.4%)** |
|  | &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;250018 | &nbsp;&nbsp;&nbsp;&nbsp;136323 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Adyen NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62046 | &nbsp;&nbsp;&nbsp;&nbsp;86135 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;EXOR NV | &nbsp;&nbsp;&nbsp;&nbsp;456262 | &nbsp;&nbsp;&nbsp;&nbsp;33405 |
|  | &nbsp;&nbsp;&nbsp;Universal Music Group NV | &nbsp;&nbsp;&nbsp;&nbsp;441943 | &nbsp;&nbsp;&nbsp;&nbsp;10687 |
|  |  |  | **266550** |
| **Norway (1.2%)** | **Norway (1.2%)** | **Norway (1.2%)** | **Norway (1.2%)** |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;420677 | &nbsp;&nbsp;&nbsp;&nbsp;15119 |
| <sup>\*,1,2</sup> | &nbsp;&nbsp;&nbsp;AutoStore Holdings Ltd. | 5309709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9696 |
|  | &nbsp;&nbsp;&nbsp;DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp;447379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8836 |
|  |  |  | **33651** |
| **Singapore (0.3%)** | **Singapore (0.3%)** | **Singapore (0.3%)** | **Singapore (0.3%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sea Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;152487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7934 |
| **South Korea (1.8%)** | **South Korea (1.8%)** | **South Korea (1.8%)** | **South Korea (1.8%)** |
|  | &nbsp;&nbsp;&nbsp;Samsung Electronics Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;599859 | &nbsp;&nbsp;&nbsp;&nbsp;26329 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Coupang Inc. | &nbsp;&nbsp;&nbsp;&nbsp;936566 | &nbsp;&nbsp;&nbsp;&nbsp;13777 |
|  | &nbsp;&nbsp;&nbsp;Samsung SDI Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25335 | &nbsp;&nbsp;&nbsp;&nbsp;11896 |
|  |  |  | **52002** |
| **Spain (1.0%)** | **Spain (1.0%)** | **Spain (1.0%)** | **Spain (1.0%)** |
|  | &nbsp;&nbsp;&nbsp;Iberdrola SA (XMAD) | 1407440 | &nbsp;&nbsp;&nbsp;&nbsp;16430 |
|  | &nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria SA | 2037780 | &nbsp;&nbsp;&nbsp;&nbsp;12274 |
|  |  |  | **28704** |
| **Sweden (3.9%)** | **Sweden (3.9%)** | **Sweden (3.9%)** | **Sweden (3.9%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Spotify Technology SA | &nbsp;&nbsp;&nbsp;&nbsp;587584 | &nbsp;&nbsp;&nbsp;&nbsp;46390 |
|  | &nbsp;&nbsp;&nbsp;Atlas Copco AB Class A | 2954700 | &nbsp;&nbsp;&nbsp;&nbsp;35008 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Kinnevik AB Class B | &nbsp;&nbsp;&nbsp;&nbsp;940952 | &nbsp;&nbsp;&nbsp;&nbsp;12951 |
|  | &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB Class A | 1165385 | &nbsp;&nbsp;&nbsp;&nbsp;11733 |
|  | &nbsp;&nbsp;&nbsp;Nibe Industrier AB Class B | &nbsp;&nbsp;&nbsp;&nbsp;358321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345 |
|  |  |  | **109427** |

---

------

International Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **Switzerland (3.6%)** | **Switzerland (3.6%)** | **Switzerland (3.6%)** | **Switzerland (3.6%)** |
|  | &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91598 | &nbsp;&nbsp;&nbsp;&nbsp;28784 |
|  | &nbsp;&nbsp;&nbsp;Nestle SA (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;199990 | &nbsp;&nbsp;&nbsp;&nbsp;23101 |
|  | &nbsp;&nbsp;&nbsp;Lonza Group AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9810 |
|  | &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA Class A (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9485 |
|  | &nbsp;&nbsp;&nbsp;Chocoladefabriken Lindt & Spruengli AG Ptg. Ctf. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9161 |
|  | &nbsp;&nbsp;&nbsp;Temenos AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;154447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8497 |
|  | &nbsp;&nbsp;&nbsp;Alcon Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7713 |
|  | &nbsp;&nbsp;&nbsp;Sika AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5248 |
|  |  |  | **101799** |
| **Taiwan (2.8%)** | **Taiwan (2.8%)** | **Taiwan (2.8%)** | **Taiwan (2.8%)** |
|  | &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. | 5462000 | &nbsp;&nbsp;&nbsp;&nbsp;79327 |
| **United Kingdom (7.5%)** | **United Kingdom (7.5%)** | **United Kingdom (7.5%)** | **United Kingdom (7.5%)** |
|  | &nbsp;&nbsp;&nbsp;Shell plc | 1391672 | &nbsp;&nbsp;&nbsp;&nbsp;39464 |
| <sup>\*,3,4</sup> | &nbsp;&nbsp;&nbsp;The Brandtech Group LLC PP (Acquired 9/23/15, Cost $5,200) | 3903901 | &nbsp;&nbsp;&nbsp;&nbsp;26379 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | &nbsp;&nbsp;&nbsp;&nbsp;183543 | &nbsp;&nbsp;&nbsp;&nbsp;24837 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ocado Group plc | 2924862 | &nbsp;&nbsp;&nbsp;&nbsp;21711 |
|  | &nbsp;&nbsp;&nbsp;Reckitt Benckiser Group plc | &nbsp;&nbsp;&nbsp;&nbsp;227154 | &nbsp;&nbsp;&nbsp;&nbsp;15746 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2037215 | &nbsp;&nbsp;&nbsp;&nbsp;12626 |
|  | &nbsp;&nbsp;&nbsp;Diageo plc | &nbsp;&nbsp;&nbsp;&nbsp;282601 | &nbsp;&nbsp;&nbsp;&nbsp;12370 |
|  | &nbsp;&nbsp;&nbsp;National Grid plc | &nbsp;&nbsp;&nbsp;&nbsp;997533 | &nbsp;&nbsp;&nbsp;&nbsp;11950 |
|  | &nbsp;&nbsp;&nbsp;Burberry Group plc | &nbsp;&nbsp;&nbsp;&nbsp;433427 | &nbsp;&nbsp;&nbsp;&nbsp;10538 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Wise plc Class A | 1549787 | &nbsp;&nbsp;&nbsp;&nbsp;10499 |
|  | &nbsp;&nbsp;&nbsp;Bunzl plc | &nbsp;&nbsp;&nbsp;&nbsp;269112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8953 |
|  | &nbsp;&nbsp;&nbsp;RELX plc | &nbsp;&nbsp;&nbsp;&nbsp;290884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8042 |
|  | &nbsp;&nbsp;&nbsp;Whitbread plc | &nbsp;&nbsp;&nbsp;&nbsp;171216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5294 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Haleon plc | &nbsp;&nbsp;&nbsp;&nbsp;795113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3146 |
|  |  |  | **211555** |
| **United States (11.5%)** | **United States (11.5%)** | **United States (11.5%)** | **United States (11.5%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Moderna Inc. | &nbsp;&nbsp;&nbsp;&nbsp;603425 | &nbsp;&nbsp;&nbsp;&nbsp;108387 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MercadoLibre Inc. | &nbsp;&nbsp;&nbsp;&nbsp;120956 | &nbsp;&nbsp;&nbsp;&nbsp;102358 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Illumina Inc. | &nbsp;&nbsp;&nbsp;&nbsp;197269 | &nbsp;&nbsp;&nbsp;&nbsp;39888 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tesla Inc. | &nbsp;&nbsp;&nbsp;&nbsp;210883 | &nbsp;&nbsp;&nbsp;&nbsp;25976 |
|  | &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;110057 | &nbsp;&nbsp;&nbsp;&nbsp;16084 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Elastic NV | &nbsp;&nbsp;&nbsp;&nbsp;237764 | &nbsp;&nbsp;&nbsp;&nbsp;12245 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5299 | &nbsp;&nbsp;&nbsp;&nbsp;10679 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Lululemon Athletica Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6631 |
| <sup>\*,2</sup> | &nbsp;&nbsp;&nbsp;Oatly Group AB ADR | 1376931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2396 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Meli Kaszek Pioneer Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;115328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150 |
|  |  |  | **325794** |
| **Total Common Stocks (Cost $2,755,009)** | **Total Common Stocks (Cost $2,755,009)** | **Total Common Stocks (Cost $2,755,009)** | **2721278** |
| **Temporary Cash Investments (3.1%)** | **Temporary Cash Investments (3.1%)** | **Temporary Cash Investments (3.1%)** | **Temporary Cash Investments (3.1%)** |
| **Money Market Fund (3.1%)** | **Money Market Fund (3.1%)** | **Money Market Fund (3.1%)** | **Money Market Fund (3.1%)** |
| <sup>5,6</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% **(Cost $89,075)** | &nbsp;&nbsp;&nbsp;&nbsp;890812 | **89072** |
| **Total Investments (99.0%) (Cost $2,844,084)** | **Total Investments (99.0%) (Cost $2,844,084)** | **Total Investments (99.0%) (Cost $2,844,084)** | **2810350** |
| **Other Assets and Liabilities—Net (1.0%)** | **Other Assets and Liabilities—Net (1.0%)** | **Other Assets and Liabilities—Net (1.0%)** | **26994** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **2837344** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| \* | Non-income-producing security. |
| 1 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, the aggregate value was $246,180,000, representing 8.7% of net assets. |
| 2 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $4,345,000. |
| 3 | Restricted securities totaling $31,572,000, representing 1.1% of net assets. |
| 4 | Security value determined using significant unobservable inputs. |
| 5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 6 | Collateral of $4,690,000 was received for securities on loan. |

---

ADR—American Depositary Receipt. <br> PP—Private Placement. <br> Ptg. Ctf.—Participating Certificates.

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| MSCI EAFE Index | March 2023 | 711 | 69301 | &nbsp;&nbsp;(1420) |
| MSCI Emerging Markets Index | March 2023 | 602 | 28878 | &nbsp;&nbsp;(495) |
|  |  |  |  | &nbsp;&nbsp;(1915) |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

International Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $2,755,009) | 2721278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $89,075) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89072 |
| Total Investments in Securities | &nbsp;&nbsp;2810350 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3578 |
| Foreign Currency, at Value (Cost $2,343) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7370 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25164 |
| Other Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 |
| **Total Assets** | **2848904** |
| **Liabilities** |  |
| Due to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273 |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4690 |
| Payables to Investment Advisor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909 |
| Deferred Foreign Capital Gains Taxes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1586 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11560** |
| **Net Assets** | &nbsp;&nbsp;**2837344** |
| 1 Includes $4,345,000 of securities on loan. |  |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;2742722 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94622 |
| **Net Assets** | &nbsp;&nbsp;**2837344** |
| **Net Assets** |  |
| **Applicable to 125,983,150 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**2837344** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$22.52** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

International Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37417 |
| Non-Cash Dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6440 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45689 |
| **Expenses** |  |
| Investment Advisory Fees—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic Fee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Adjustment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940 |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12792 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32897** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;124228 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;(19557) |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(536) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**104135** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2,3</sup> | (1393214) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3598) |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61) |
| **Change in Unrealized Appreciation (Depreciation)** | **(1396873)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(1259841)** |

---

---

| | |
|:---|:---|
| 1 | Dividends include foreign tax reclaims of $2,467,000 and are net of foreign withholding taxes of $4,473,000. |
| 2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $1,330,000, ($35000), less than $1,000, and $13,000, respectively. Purchases and sales are for temporary cash investment purposes. |
| 3 | The change in unrealized appreciation (depreciation) is net of the change in deferred foreign capital gains taxes of $308,000. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39636 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104135 | &nbsp;&nbsp;&nbsp;&nbsp;1457108 |
| Change in Unrealized Appreciation (Depreciation) | (1396873) | &nbsp;&nbsp;&nbsp;&nbsp;(1517665) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | (1259841) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20921) |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(657944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(424362) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;372085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808340 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424362 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(521400) | &nbsp;&nbsp;&nbsp;&nbsp;(2438174) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;508629 | &nbsp;&nbsp;&nbsp;(1205472) |
| Total Increase (Decrease) | &nbsp;&nbsp;(1409156) | &nbsp;&nbsp;&nbsp;(1650755) |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**4246500** | &nbsp;&nbsp;&nbsp;&nbsp;**5897255** |
| **End of Period** | &nbsp;&nbsp;&nbsp;**2837344** | &nbsp;&nbsp;&nbsp;&nbsp;**4246500** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

International Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$39.70** | &nbsp;&nbsp;&nbsp;**$43.57** | &nbsp;&nbsp;&nbsp;**$29.00** | &nbsp;&nbsp;&nbsp;**$23.14** | &nbsp;&nbsp;&nbsp;**$27.34** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.367 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;(11.155) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.007) | &nbsp;&nbsp;&nbsp;&nbsp;15.535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.644) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;(10.886) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.662) | &nbsp;&nbsp;&nbsp;&nbsp;15.693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.277) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.398) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.123) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.397) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.378) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.212) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.896) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.085) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.726) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.825) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.711) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.294) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.123) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.923) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$22.52** | &nbsp;&nbsp;&nbsp;**$39.70** | &nbsp;&nbsp;&nbsp;**$43.57** | &nbsp;&nbsp;&nbsp;**$29.00** | &nbsp;&nbsp;&nbsp;**$23.14** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-30.12%** | &nbsp;&nbsp;&nbsp;**-1.54%** | &nbsp;&nbsp;&nbsp;**57.58%** | &nbsp;&nbsp;&nbsp;**31.22%** | &nbsp;&nbsp;&nbsp;**-12.61%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$2837 | &nbsp;&nbsp;&nbsp;$4247 | &nbsp;&nbsp;&nbsp;$5897 | &nbsp;&nbsp;&nbsp;$4023 | &nbsp;&nbsp;&nbsp;$3109 |
| Ratio of Total Expenses to Average Net Assets<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.41% | &nbsp;&nbsp;&nbsp;0.38% | &nbsp;&nbsp;&nbsp;0.38% | &nbsp;&nbsp;&nbsp;0.38% | &nbsp;&nbsp;&nbsp;0.37% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.06% | &nbsp;&nbsp;&nbsp;0.81% | &nbsp;&nbsp;&nbsp;0.49% | &nbsp;&nbsp;&nbsp;1.43% | &nbsp;&nbsp;&nbsp;1.36% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;17% | &nbsp;&nbsp;&nbsp;21%<sup>3</sup> | &nbsp;&nbsp;&nbsp;22% | &nbsp;&nbsp;&nbsp;14% | &nbsp;&nbsp;&nbsp;16% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Includes performance-based investment advisory fee increases (decreases) of 0.06%, 0.04%, 0.04%, 0.04%, and 0.03%. |
| 3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the portfolio's capital shares. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

International Portfolio

Notes to Financial Statements

The International Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.The portfolio invests in securities of foreign issuers, which may subject it to investment risks not normally associated with investing in securities of U.S. corporations. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the portfolio's pricing time. When fair-value pricing is employed, the prices of securities used by a portfolio to calculate its net asset value may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the portfolio's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. Futures Contracts: The portfolio uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The portfolio may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 3% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations,

------

International Portfolio

which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

6. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

7. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Taxes on foreign dividends and capital gains have been provided for in accordance with the portfolio's understanding of the applicable countries' tax rules and rates. Deferred foreign capital gains tax, if any, is accrued daily based upon net unrealized gains. The portfolio has filed tax reclaims for

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International Portfolio

previously withheld taxes on dividends earned in certain European Union countries. These filings are subject to various administrative and judicial proceedings within these countries. Amounts related to these reclaims are recorded when there are no significant uncertainties as to the ultimate resolution of proceedings, the likelihood of receipt of these reclaims, and the potential timing of payment. Such tax reclaims and related professional fees, if any, are included in dividend income and other expenses, respectively.

**B.** The investment advisory firms Baillie Gifford Overseas Ltd. and Schroder Investment Management North America Inc. each provide investment advisory services to a portion of the portfolio for a fee calculated at an
annual percentage rate of average net assets managed by the advisor. The basic fee of Baillie Gifford Overseas Ltd. and Schroder Investment Management North America Inc. is subject to quarterly adjustments based on
performance relative to the MSCI All Country World Index ex USA for the preceding three years.

Vanguard manages the cash reserves of the portfolio as described below.

For the year ended December 31, 2022, the aggregate investment advisory fee paid to all advisors represented an effective annual basic rate of 0.15% of the portfolio's average net assets, before a net increase of $1,940,000 (0.06%) based on performance.

**C.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio corporate management, administrative, marketing,
distribution and cash management services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board
of trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $108,000, representing less than 0.01% of the portfolio's net assets and 0.04% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**D.** Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies
used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

The following table summarizes the market value of the portfolio's investments and derivatives as of December 31, 2022, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks—North and South America | 379281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397190 |
| Common Stocks—Other | &nbsp;&nbsp;152505 | &nbsp;&nbsp;&nbsp;2140011 | &nbsp;&nbsp;&nbsp;31572 | &nbsp;&nbsp;&nbsp;2324088 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;89072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89072 |
| Total | 620858 | &nbsp;&nbsp;&nbsp;2157920 | &nbsp;&nbsp;&nbsp;31572 | &nbsp;&nbsp;&nbsp;2810350 |
| **Derivative Financial Instruments** |  |  |  |  |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | 1915 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1915 |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

The determination of Level 3 fair value measurements is governed by documented policies and procedures adopted by the board of trustees. The timely analysis and valuation of Level 3 securities held by the portfolio in accordance with established policies and procedures is performed by the valuation designee under the oversight of the board. The valuation designee employs various methods for calibrating valuation approaches, including a regular review of key inputs and assumptions, transactional back-testing or disposition analysis, and reviews of any related market activity. A summary of valuation decisions made by the valuation designee is reported to the board

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International Portfolio

on a quarterly basis for review. The board reviews the adequacy of the fair value measurement policies and procedures in place on an annual basis.

The following table summarizes changes in investments and derivatives valued based on Level 3 inputs during the year ended December 31, 2022. Transfers, if any, into or out of Level 3 are recognized based on values as of the beginning of the period.

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| | |
|:---|:---|
| Amount Valued Based on Level 3 Inputs | &nbsp;&nbsp;&nbsp;Investments<br> in Common<br> Stocks<br> ($000) |
| Balance as of December 31, 2021 | &nbsp;&nbsp;&nbsp;42682 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(11110) |
| Balance as of December 31, 2022 | &nbsp;&nbsp;&nbsp;31572 |

---

Net change in unrealized appreciation (depreciation) from investments and derivatives still held as of December 31, 2022, was ($11,110,000).

The following table provides quantitative information about the significant unobservable inputs used in fair value measurements as of December 31, 2022.

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security Type | Fair Value<br> at 12/31/2022<br> ($000) | &nbsp;&nbsp;&nbsp;Valuation Technique | &nbsp;&nbsp;&nbsp;Unobservable Input | &nbsp;&nbsp;&nbsp;Amount or Range/<br> Weighted Avg. |
| Common Stocks | 26379 | &nbsp;&nbsp;&nbsp;Sum of the Parts: Trading Multiples & Cost | &nbsp;&nbsp;&nbsp;Reorganized Capitalization Structure/Indicative Offers | &nbsp;&nbsp;&nbsp;$2.363 billion |
| Common Stocks | 5193 | &nbsp;&nbsp;&nbsp;Comparable Companies and Benchmark Performance/Probability Scenario | &nbsp;&nbsp;&nbsp;Implied Equity Valuation | &nbsp;&nbsp;&nbsp;$6.414 billion |

---

Significant increases or decreases in the significant unobservable inputs used in the fair value measurement of the portfolio's Level 3 securities, in isolation, could result in a significantly higher or lower fair value measurement at December 31, 2022.

**E.** Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no
effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable foreign currency transactions and passive foreign investment companies
were reclassified between the individual components of total distributable earnings (loss).

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; the recognition of unrealized gains or losses from certain derivative contracts; the recognition of unrealized gains from passive foreign investment companies; and the classification of securities for tax purposes. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;43902 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;99383 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(48663) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;&nbsp;54088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16021 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;603856 | &nbsp;&nbsp;&nbsp;&nbsp;408341 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;657944 | &nbsp;&nbsp;&nbsp;&nbsp;424362 |

---

\* Includes short-term capital gains, if any.

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International Portfolio

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;2857404 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;573094 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(620148) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47054) |

---

**F.** During the year ended December 31, 2022, the portfolio purchased $508,775,000 of investment securities and sold $616,311,000 of investment securities, other than temporary cash investments.

**G.** Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;14219 | &nbsp;&nbsp;&nbsp;&nbsp;18577 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;24242 | &nbsp;&nbsp;&nbsp;&nbsp;10657 |
| Redeemed | (19430) | &nbsp;&nbsp;&nbsp;(57631) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;19031 | &nbsp;&nbsp;(28397) |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 32% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**H.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of International Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of International Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodians, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

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#### Tax information (unaudited)
The portfolio hereby designates $320,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $603,856,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

The portfolio designates to shareholders foreign source income of $45,874,000 and foreign taxes paid of $3,629,000.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

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![](tm231735d7intrnlporti005.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Annuity and Insurance Services > 800-522-5555

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

#### CFA<sup>®</sup> is a registered trademark owned by CFA Institute.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690I 022023

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![](tm231735d7midcapindxi001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Mid-Cap Index Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

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Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

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Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Mid-Cap Index Portfolio returned –18.82%, in line
with its benchmark index after factoring in the portfolio's expenses.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's
invasion of Ukraine. That prompted aggressive tightening by many central banks to bring inflation in check, which increased fears of recession.

• Technology and consumer discretionary contributed most to the portfolio's negative performance, while energy performed strongly.

• For the 10 years ended December 31, 2022, the portfolio's average annual return was 10.95%, in line with its benchmark.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Mid-Cap Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1044.50 | &nbsp;&nbsp;&nbsp;&nbsp;$0.88 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.87 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.17%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

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Mid-Cap Index Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7midcapindxi002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7midcapindxi003.jpg) | &nbsp;&nbsp;&nbsp;Mid-Cap Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-18.82% | &nbsp;&nbsp;&nbsp;&nbsp;7.18% | &nbsp;&nbsp;&nbsp;&nbsp;10.95% | &nbsp;&nbsp;&nbsp;&nbsp;$28272 |
| ![](tm231735d7midcapindxi004.jpg) | &nbsp;&nbsp;&nbsp;Spliced Mid-Cap Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.68 | &nbsp;&nbsp;&nbsp;&nbsp;7.34 | &nbsp;&nbsp;&nbsp;&nbsp;11.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28728 |
| ![](tm231735d7midcapindxi005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

Spliced Mid-Cap Index: MSCI US Mid Cap 450 Index through January 30, 2013; CRSP US Mid Cap Index thereafter.

See Financial Highlights for dividend and capital gains information.

------

Mid-Cap Index Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Basic Materials | &nbsp;&nbsp;4.0% |
| Consumer Discretionary | 13.0 |
| Consumer Staples | &nbsp;&nbsp;5.0 |
| Energy | &nbsp;&nbsp;6.7 |
| Financials | 13.1 |
| Health Care | 11.0 |
| Industrials | 15.6 |
| Real Estate | &nbsp;&nbsp;9.0 |
| Technology | 13.1 |
| Telecommunications | &nbsp;&nbsp;&nbsp;1.7 |
| Utilities | &nbsp;&nbsp;&nbsp;7.8 |

---

The table reflects the portfolio's investments, except for short-term investments and derivatives. Sector categories are based on the Industry Classification Benchmark ("ICB"), except for the "Other" category (if applicable), which includes securities that have not been provided an ICB classification as of the effective reporting period.

The portfolio may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking its target index as closely as possible.

The Industry Classification Benchmark ("ICB") is owned by FTSE. FTSE does not accept any liability to any person for any loss or damage arising out of any error or omission in the ICB.

------

Mid-Cap Index Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Common Stocks (99.4%)** | **Common Stocks (99.4%)** | **Common Stocks (99.4%)** | **Common Stocks (99.4%)** |
| **Basic Materials (3.9%)** | **Basic Materials (3.9%)** | **Basic Materials (3.9%)** | **Basic Materials (3.9%)** |
|  | &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp; 97431 | &nbsp;&nbsp; 12842 |
|  | &nbsp;&nbsp;&nbsp;Fastenal Co. | &nbsp;&nbsp;217602 | &nbsp;&nbsp; 10297 |
|  | &nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc. | 96867 | &nbsp;&nbsp; 10155 |
|  | &nbsp;&nbsp;&nbsp;Albemarle Corp. | 44546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9660 |
|  | &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV Class A | 99027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8222 |
|  | &nbsp;&nbsp;&nbsp;CF Industries Holdings Inc. | &nbsp;&nbsp; 74547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6351 |
|  | &nbsp;&nbsp;&nbsp;FMC Corp. | &nbsp;&nbsp; 47897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5978 |
|  | &nbsp;&nbsp;&nbsp;Mosaic Co. | &nbsp;&nbsp;129401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5677 |
|  | &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | 30751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5566 |
|  | &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp;135172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4681 |
|  | &nbsp;&nbsp;&nbsp;Celanese Corp. Class A | &nbsp;&nbsp; 37067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790 |
|  | &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 45625 | &nbsp;&nbsp; 3716 |
|  | &nbsp;&nbsp;&nbsp;Westlake Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 |
|  |  |  | &nbsp;&nbsp; **87555** |
| **Consumer Discretionary (12.9%)** | **Consumer Discretionary (12.9%)** | **Consumer Discretionary (12.9%)** | **Consumer Discretionary (12.9%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dollar Tree Inc. | &nbsp;&nbsp; 79815 | &nbsp;&nbsp; 11289 |
|  | &nbsp;&nbsp;&nbsp;DR Horton Inc. | &nbsp;&nbsp;&nbsp;117787 | &nbsp;&nbsp; 10499 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Copart Inc. | &nbsp;&nbsp;162860 | &nbsp;&nbsp; 9917 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Aptiv plc | &nbsp;&nbsp;102951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9588 |
|  | &nbsp;&nbsp;&nbsp;Tractor Supply Co. | &nbsp;&nbsp; 42014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9452 |
|  | &nbsp;&nbsp;&nbsp;Genuine Parts Co. | 53583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9297 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ulta Beauty Inc. | &nbsp;&nbsp; 19472 | &nbsp;&nbsp; 9134 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AutoZone Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8863 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. Class A | 95734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8664 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 206277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8554 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Delta Air Lines Inc. | &nbsp;&nbsp;243617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8005 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 225637 | &nbsp;&nbsp; 7597 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Trade Desk Inc. Class A | &nbsp;&nbsp;169149 | &nbsp;&nbsp; 7583 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;5248 | &nbsp;&nbsp; 7282 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 63793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6643 |
|  | &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings Inc. | 51400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6495 |
|  | &nbsp;&nbsp;&nbsp;Darden Restaurants Inc. | 46483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6430 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | &nbsp;&nbsp; 77503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6322 |
|  | &nbsp;&nbsp;&nbsp;Best Buy Co. Inc. | &nbsp;&nbsp; 76995 | &nbsp;&nbsp; 6176 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Etsy Inc. | &nbsp;&nbsp; 47800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5725 |
|  | &nbsp;&nbsp;&nbsp;Garmin Ltd. | &nbsp;&nbsp; 58274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5378 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NVR Inc. | &nbsp;&nbsp; 1153 | &nbsp;&nbsp; 5318 |
|  | &nbsp;&nbsp;&nbsp;LKQ Corp. | 96438 | &nbsp;&nbsp; 5151 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Burlington Stores Inc. | &nbsp;&nbsp; 24744 | &nbsp;&nbsp; 5017 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Expedia Group Inc. | &nbsp;&nbsp; 57249 | &nbsp;&nbsp; 5015 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;United Airlines Holdings Inc. | &nbsp;&nbsp;124104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4679 |
|  | &nbsp;&nbsp;&nbsp;Domino's Pizza Inc. | &nbsp;&nbsp; 13497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4675 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Live Nation Entertainment Inc. | &nbsp;&nbsp; 61419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4283 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | 82443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4075 |
|  | &nbsp;&nbsp;&nbsp;PulteGroup Inc. | 86628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3944 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Warner Bros Discovery Inc. | &nbsp;&nbsp;415200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3936 |
|  | &nbsp;&nbsp;&nbsp;MGM Resorts International | &nbsp;&nbsp;116796 | &nbsp;&nbsp; 3916 |
|  | &nbsp;&nbsp;&nbsp;Rollins Inc. | &nbsp;&nbsp;102917 | &nbsp;&nbsp; 3761 |
|  | &nbsp;&nbsp;&nbsp;VF Corp. | &nbsp;&nbsp;132985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3672 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CarMax Inc. | 59977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3652 |
|  | &nbsp;&nbsp;&nbsp;BorgWarner Inc. | 89040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3584 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ROBLOX Corp. Class A | &nbsp;&nbsp;125300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3566 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. Class A | &nbsp;&nbsp;114900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3489 |
|  | &nbsp;&nbsp;&nbsp;News Corp. Class A | &nbsp;&nbsp;186321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3391 |
|  | &nbsp;&nbsp;&nbsp;Advance Auto Parts Inc. | 22486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3306 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Caesars Entertainment Inc. | &nbsp;&nbsp; 77400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3220 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. | 65300 | &nbsp;&nbsp; 3139 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Class B | &nbsp;&nbsp;185341 | &nbsp;&nbsp; 3129 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Carnival Corp. | &nbsp;&nbsp;380516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3067 |
|  | &nbsp;&nbsp;&nbsp;Hasbro Inc. | &nbsp;&nbsp; 49888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | &nbsp;&nbsp; 73801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2458 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Liberty Media Corp.-Liberty SiriusXM Class C | &nbsp;&nbsp; 58236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2279 |
|  | &nbsp;&nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp; 7100 | &nbsp;&nbsp; 2147 |
|  | &nbsp;&nbsp;&nbsp;Vail Resorts Inc. | &nbsp;&nbsp; 7652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824 |
|  | &nbsp;&nbsp;&nbsp;Bath & Body Works Inc. | &nbsp;&nbsp; 41100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;American Airlines Group Inc. | &nbsp;&nbsp;123437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570 |
|  | &nbsp;&nbsp;&nbsp;Warner Music Group Corp. Class A | &nbsp;&nbsp; 44367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Lucid Group Inc. | &nbsp;&nbsp;222743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1521 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | &nbsp;&nbsp; 10316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1459 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. Class B | &nbsp;&nbsp; 50268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | &nbsp;&nbsp; 11229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Sirius XM Holdings Inc. | 222800 | &nbsp;&nbsp; 1301 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Chewy Inc. Class A | &nbsp;&nbsp; 33820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Endeavor Group Holdings Inc. Class A | &nbsp;&nbsp; 49226 | &nbsp;&nbsp; 1110 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Liberty Media Corp.-Liberty SiriusXM Class A | &nbsp;&nbsp; 27945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. Class B | &nbsp;&nbsp; 6899 | &nbsp;&nbsp; 516 |
|  | &nbsp;&nbsp;&nbsp;News Corp. Class B | &nbsp;&nbsp; 3475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Class A | &nbsp;&nbsp; 2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 |
|  |  |  | &nbsp;&nbsp; **287687** |
| **Consumer Staples (4.9%)** | **Consumer Staples (4.9%)** | **Consumer Staples (4.9%)** | **Consumer Staples (4.9%)** |
|  | &nbsp;&nbsp;&nbsp;Corteva Inc. | &nbsp;&nbsp;272969 | &nbsp;&nbsp; 16045 |
|  | &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp;244805 | &nbsp;&nbsp; 10913 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | &nbsp;&nbsp; 62495 | &nbsp;&nbsp; 10356 |
|  | &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | &nbsp;&nbsp;104318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9686 |
|  | &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. (Non-Voting) | &nbsp;&nbsp; 95186 | &nbsp;&nbsp; 7890 |
|  | &nbsp;&nbsp;&nbsp;Church & Dwight Co. Inc. | &nbsp;&nbsp; 92650 | &nbsp;&nbsp; 7469 |
|  | &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | &nbsp;&nbsp;182115 | &nbsp;&nbsp; 7048 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | &nbsp;&nbsp; 97264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6929 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. Class A | &nbsp;&nbsp;110077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6852 |
|  | &nbsp;&nbsp;&nbsp;Clorox Co. | &nbsp;&nbsp; 46845 | &nbsp;&nbsp; 6574 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | &nbsp;&nbsp; 38477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6097 |
|  | &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | &nbsp;&nbsp;103787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4727 |
|  | &nbsp;&nbsp;&nbsp;Campbell Soup Co. | &nbsp;&nbsp; 74066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4203 |
|  | &nbsp;&nbsp;&nbsp;Lamb Weston Holdings Inc. | &nbsp;&nbsp; 27313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2441 |
|  | &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. Class B | &nbsp;&nbsp; 34220 | &nbsp;&nbsp; 1763 |
|  | &nbsp;&nbsp;&nbsp;Albertsons Cos. Inc. Class A | 71000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Olaplex Holdings Inc. | &nbsp;&nbsp; 18358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 |
|  |  |  | &nbsp;&nbsp; **110562** |
| **Energy (6.7%)** | **Energy (6.7%)** | **Energy (6.7%)** | **Energy (6.7%)** |
|  | &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 248300 | &nbsp;&nbsp; 15273 |
|  | &nbsp;&nbsp;&nbsp;Hess Corp. | &nbsp;&nbsp;105336 | &nbsp;&nbsp; 14939 |
|  | &nbsp;&nbsp;&nbsp;Cheniere Energy Inc. | &nbsp;&nbsp; 94420 | &nbsp;&nbsp; 14159 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Enphase Energy Inc. | &nbsp;&nbsp; 51660 | &nbsp;&nbsp; 13688 |
|  | &nbsp;&nbsp;&nbsp;Halliburton Co. | &nbsp;&nbsp;310455 | &nbsp;&nbsp; 12216 |
|  | &nbsp;&nbsp;&nbsp;Baker Hughes Co. Class A | &nbsp;&nbsp;380512 | &nbsp;&nbsp; 11237 |
|  | &nbsp;&nbsp;&nbsp;ONEOK Inc. | &nbsp;&nbsp;169682 | &nbsp;&nbsp; 11148 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 89700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9336 |
|  | &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 73200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9286 |
|  | &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 66800 | &nbsp;&nbsp; 9137 |
|  | &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | &nbsp;&nbsp;231264 | &nbsp;&nbsp; 7609 |
|  | &nbsp;&nbsp;&nbsp;Coterra Energy Inc. | 284500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6990 |
|  | &nbsp;&nbsp;&nbsp;Marathon Oil Corp. | 241000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6524 |
|  | &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp; 2813 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Plug Power Inc. | 221500 | &nbsp;&nbsp; 2740 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | &nbsp;&nbsp; 62675 | &nbsp;&nbsp; 2120 |
|  |  |  | &nbsp;&nbsp; **149215** |

---

------

Mid-Cap Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **Financials (13.1%)** | **Financials (13.1%)** | **Financials (13.1%)** | **Financials (13.1%)** |
|  | &nbsp;&nbsp;&nbsp;Arthur J Gallagher & Co. | &nbsp;&nbsp; 80100 | &nbsp;&nbsp; 15102 |
|  | &nbsp;&nbsp;&nbsp;MSCI Inc. Class A | &nbsp;&nbsp; 28829 | &nbsp;&nbsp; 13410 |
|  | &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | &nbsp;&nbsp; 40392 | &nbsp;&nbsp; 12577 |
|  | &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;132509 | &nbsp;&nbsp; 10279 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | &nbsp;&nbsp;103842 | &nbsp;&nbsp; 10159 |
|  | &nbsp;&nbsp;&nbsp;Willis Towers Watson plc | &nbsp;&nbsp; 41167 | &nbsp;&nbsp; 10069 |
|  | &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp; 65586 | &nbsp;&nbsp; 9514 |
|  | &nbsp;&nbsp;&nbsp;T. Rowe Price Group Inc. | 84900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9259 |
|  | &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | &nbsp;&nbsp;120912 | &nbsp;&nbsp; 9169 |
|  | &nbsp;&nbsp;&nbsp;Nasdaq Inc. | &nbsp;&nbsp;149378 | &nbsp;&nbsp; 9164 |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | &nbsp;&nbsp;141200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8929 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;260766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8556 |
|  | &nbsp;&nbsp;&nbsp;First Republic Bank | &nbsp;&nbsp; 69530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8475 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arch Capital Group Ltd. | &nbsp;&nbsp;133448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8378 |
|  | &nbsp;&nbsp;&nbsp;Apollo Global Management Inc. | &nbsp;&nbsp;130499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8324 |
|  | &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | &nbsp;&nbsp; 73587 | &nbsp;&nbsp; 7863 |
|  | &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | &nbsp;&nbsp; 92964 | &nbsp;&nbsp; 7801 |
|  | &nbsp;&nbsp;&nbsp;Huntington Bancshares Inc. | &nbsp;&nbsp;548133 | &nbsp;&nbsp; 7729 |
|  | &nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp;354993 | &nbsp;&nbsp; 7654 |
|  | &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | &nbsp;&nbsp;&nbsp;187150 | &nbsp;&nbsp; 7368 |
|  | &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp; 75262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6660 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Markel Corp. | &nbsp;&nbsp; 4854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6395 |
|  | &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp;354536 | &nbsp;&nbsp; 6176 |
|  | &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | &nbsp;&nbsp; 59704 | &nbsp;&nbsp; 6113 |
|  | &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions Inc. | &nbsp;&nbsp; 44680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5993 |
|  | &nbsp;&nbsp;&nbsp;FactSet Research Systems Inc. | &nbsp;&nbsp; 14483 | &nbsp;&nbsp; 5811 |
|  | &nbsp;&nbsp;&nbsp;W R Berkley Corp. | &nbsp;&nbsp; 75634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5489 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SVB Financial Group | &nbsp;&nbsp; 22467 | &nbsp;&nbsp; 5171 |
|  | &nbsp;&nbsp;&nbsp;Cboe Global Markets Inc. | &nbsp;&nbsp; 40270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5053 |
|  | &nbsp;&nbsp;&nbsp;Everest Re Group Ltd. | &nbsp;&nbsp; 14924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4944 |
|  | &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp; 76633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4470 |
|  | &nbsp;&nbsp;&nbsp;Ares Management Corp. Class A | 59300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4058 |
|  | &nbsp;&nbsp;&nbsp;Equitable Holdings Inc. | &nbsp;&nbsp;140613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4036 |
|  | &nbsp;&nbsp;&nbsp;MarketAxess Holdings Inc. | &nbsp;&nbsp; 13570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784 |
|  | &nbsp;&nbsp;&nbsp;Annaly Capital Management Inc. | &nbsp;&nbsp;177829 | &nbsp;&nbsp; 3749 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Financial Inc. | &nbsp;&nbsp; 98244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3696 |
|  | &nbsp;&nbsp;&nbsp;LPL Financial Holdings Inc. | &nbsp;&nbsp; 14344 | &nbsp;&nbsp; 3101 |
|  | &nbsp;&nbsp;&nbsp;Franklin Resources Inc. | &nbsp;&nbsp;113947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006 |
|  | &nbsp;&nbsp;&nbsp;Tradeweb Markets Inc. Class A | 42200 | &nbsp;&nbsp; 2740 |
|  | &nbsp;&nbsp;&nbsp;Interactive Brokers Group Inc. Class A | &nbsp;&nbsp; 37150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2688 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | &nbsp;&nbsp; 43100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2455 |
|  | &nbsp;&nbsp;&nbsp;Globe Life Inc. | &nbsp;&nbsp; 16607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Coinbase Global Inc. Class A | 54400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925 |
|  | &nbsp;&nbsp;&nbsp;Ally Financial Inc. | &nbsp;&nbsp; 51108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250 |
|  | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | &nbsp;&nbsp; 24554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Rocket Cos. Inc. Class A | 46500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 |
|  |  |  | **291361** |
| **Health Care (10.9%)** | **Health Care (10.9%)** | **Health Care (10.9%)** | **Health Care (10.9%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Centene Corp. | &nbsp;&nbsp;215160 | &nbsp;&nbsp; 17645 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dexcom Inc. | &nbsp;&nbsp;146757 | &nbsp;&nbsp; 16619 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;IQVIA Holdings Inc. | &nbsp;&nbsp; 70573 | &nbsp;&nbsp; 14460 |
|  | &nbsp;&nbsp;&nbsp;ResMed Inc. | &nbsp;&nbsp; 55638 | &nbsp;&nbsp; 11580 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals Inc. | &nbsp;&nbsp; 46733 | &nbsp;&nbsp; 11106 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | &nbsp;&nbsp; 79726 | &nbsp;&nbsp; 10165 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Horizon Therapeutics plc | &nbsp;&nbsp; 86100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9798 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Veeva Systems Inc. Class A | &nbsp;&nbsp; 53405 | &nbsp;&nbsp; 8619 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | &nbsp;&nbsp; 33692 | &nbsp;&nbsp; 7934 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Insulet Corp. | 26400 | &nbsp;&nbsp; 7772 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | &nbsp;&nbsp; 99623 | &nbsp;&nbsp; 7658 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Molina Healthcare Inc. | &nbsp;&nbsp; 22229 | &nbsp;&nbsp; 7340 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;BioMarin Pharmaceutical Inc. | &nbsp;&nbsp; 70614 | &nbsp;&nbsp; 7308 |
|  | &nbsp;&nbsp;&nbsp;STERIS plc | &nbsp;&nbsp; 37900 | &nbsp;&nbsp; 7000 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Hologic Inc. | &nbsp;&nbsp; 93389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6986 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Seagen Inc. | &nbsp;&nbsp; 52926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6802 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | &nbsp;&nbsp; 43268 | &nbsp;&nbsp; 6769 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | 48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6731 |
|  | &nbsp;&nbsp;&nbsp;West Pharmaceutical Services Inc. | &nbsp;&nbsp; 28100 | &nbsp;&nbsp; 6613 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;IDEXX Laboratories Inc. | &nbsp;&nbsp; 15706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6407 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Cooper Cos. Inc. | &nbsp;&nbsp; 18707 | &nbsp;&nbsp; 6186 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Align Technology Inc. | 28200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5947 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Incyte Corp. | &nbsp;&nbsp; 71881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5773 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc Class A | &nbsp;&nbsp;142504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5632 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Avantor Inc. | 243400 | &nbsp;&nbsp; 5133 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | &nbsp;&nbsp;460857 | &nbsp;&nbsp; 5129 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 95800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4883 |
|  | &nbsp;&nbsp;&nbsp;Teleflex Inc. | &nbsp;&nbsp;&nbsp; 17818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4448 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Henry Schein Inc. | &nbsp;&nbsp; 51490 | &nbsp;&nbsp; 4113 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Bio-Rad Laboratories Inc. Class A | &nbsp;&nbsp; 7953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3344 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Catalent Inc. | 65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Charles River Laboratories International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp; 2114 |
|  | &nbsp;&nbsp;&nbsp;Universal Health Services Inc. Class B | &nbsp;&nbsp; 11563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DaVita Inc. | &nbsp;&nbsp; 9528 | &nbsp;&nbsp; 711 |
|  |  |  | **243280** |
| **Industrials (15.5%)** | **Industrials (15.5%)** | **Industrials (15.5%)** | **Industrials (15.5%)** |
|  | &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp; 32781 | &nbsp;&nbsp; 14805 |
|  | &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;317699 | &nbsp;&nbsp; 13105 |
|  | &nbsp;&nbsp;&nbsp;TransDigm Group Inc. | &nbsp;&nbsp; 19592 | &nbsp;&nbsp; 12336 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Mettler-Toledo International Inc. | &nbsp;&nbsp; 8456 | &nbsp;&nbsp; 12223 |
|  | &nbsp;&nbsp;&nbsp;AMETEK Inc. | &nbsp;&nbsp;&nbsp; 87310 | &nbsp;&nbsp; 12199 |
|  | &nbsp;&nbsp;&nbsp;PACCAR Inc. | &nbsp;&nbsp;118973 | &nbsp;&nbsp; 11775 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Keysight Technologies Inc. | &nbsp;&nbsp; 67820 | &nbsp;&nbsp; 11602 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | &nbsp;&nbsp; 43619 | &nbsp;&nbsp; 11235 |
|  | &nbsp;&nbsp;&nbsp;Old Dominion Freight Line Inc. | &nbsp;&nbsp;&nbsp; 37744 | &nbsp;&nbsp; 10711 |
|  | &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. Class A | &nbsp;&nbsp; 59421 | &nbsp;&nbsp; 10483 |
|  | &nbsp;&nbsp;&nbsp;Ferguson plc | 79700 | &nbsp;&nbsp; 10119 |
|  | &nbsp;&nbsp;&nbsp;WW Grainger Inc. | &nbsp;&nbsp; 17263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9603 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;United Rentals Inc. | &nbsp;&nbsp; 26378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9375 |
|  | &nbsp;&nbsp;&nbsp;Equifax Inc. | &nbsp;&nbsp; 46521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9042 |
|  | &nbsp;&nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp;134411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8636 |
|  | &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp; 47980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8402 |
|  | &nbsp;&nbsp;&nbsp;Ingersoll Rand Inc. | &nbsp;&nbsp;153812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8037 |
|  | &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | &nbsp;&nbsp; 23549 | &nbsp;&nbsp; 7959 |
|  | &nbsp;&nbsp;&nbsp;Quanta Services Inc. | 54300 | &nbsp;&nbsp; 7738 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Waters Corp. | &nbsp;&nbsp; 22528 | &nbsp;&nbsp; 7718 |
|  | &nbsp;&nbsp;&nbsp;Xylem Inc. | &nbsp;&nbsp; 68468 | &nbsp;&nbsp; 7570 |
|  | &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp; 53343 | &nbsp;&nbsp; 7223 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | &nbsp;&nbsp; 17800 | &nbsp;&nbsp;&nbsp; 7118 |
|  | &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp; 65655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6553 |
|  | &nbsp;&nbsp;&nbsp;Expeditors International of Washington Inc. | &nbsp;&nbsp; 60437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6281 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp; 79196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6202 |
|  | &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;119342 | &nbsp;&nbsp; 6103 |
|  | &nbsp;&nbsp;&nbsp;Jacobs Solutions Inc. | &nbsp;&nbsp; 47975 | &nbsp;&nbsp; 5760 |
|  | &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;171219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5626 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | &nbsp;&nbsp; 79318 | &nbsp;&nbsp; 5616 |
|  | &nbsp;&nbsp;&nbsp;JB Hunt Transport Services Inc. | &nbsp;&nbsp; 31432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5480 |
|  | &nbsp;&nbsp;&nbsp;Global Payments Inc. | 51400 | &nbsp;&nbsp; 5105 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zebra Technologies Corp. Class A | &nbsp;&nbsp; 19660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5041 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;FleetCor Technologies Inc. | &nbsp;&nbsp; 26657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4896 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Trimble Inc. | &nbsp;&nbsp; 93704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4738 |
|  | &nbsp;&nbsp;&nbsp;Snap-on Inc. | &nbsp;&nbsp; 20157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4606 |
|  | &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp; 35199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4502 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | &nbsp;&nbsp; 58039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4360 |
|  | &nbsp;&nbsp;&nbsp;TransUnion | &nbsp;&nbsp; 73203 | &nbsp;&nbsp; 4154 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Bill.com Holdings Inc. | &nbsp;&nbsp; 38100 | &nbsp;&nbsp; 4151 |
|  | &nbsp;&nbsp;&nbsp;CH Robinson Worldwide Inc. | &nbsp;&nbsp; 44690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4092 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp; 85652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3997 |
|  | &nbsp;&nbsp;&nbsp;Crown Holdings Inc. | &nbsp;&nbsp; 45563 | &nbsp;&nbsp; 3746 |
|  | &nbsp;&nbsp;&nbsp;Westrock Co. | &nbsp;&nbsp; 96703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 |
|  | &nbsp;&nbsp;&nbsp;HEICO Corp. Class A | &nbsp;&nbsp; 27899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3344 |
|  | &nbsp;&nbsp;&nbsp;Jack Henry & Associates Inc. | &nbsp;&nbsp; 13916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2443 |
|  | &nbsp;&nbsp;&nbsp;HEICO Corp. | &nbsp;&nbsp; 15669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2407 |
|  | &nbsp;&nbsp;&nbsp;Hubbell Inc. Class B | &nbsp;&nbsp; 10179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2389 |
|  | &nbsp;&nbsp;&nbsp;Fortune Brands Innovations Inc. | &nbsp;&nbsp; 24416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Generac Holdings Inc. | &nbsp;&nbsp; 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208 |
|  |  |  | **346608** |

---

------

Mid-Cap Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **Real Estate (9.0%)** | **Real Estate (9.0%)** | **Real Estate (9.0%)** | **Real Estate (9.0%)** |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 238291 | &nbsp;&nbsp; 15115 |
|  | &nbsp;&nbsp;&nbsp;VICI Properties Inc. | 378900 | &nbsp;&nbsp; 12276 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CoStar Group Inc. | &nbsp;&nbsp;154567 | &nbsp;&nbsp; 11945 |
|  | &nbsp;&nbsp;&nbsp;Welltower Inc. | &nbsp;&nbsp;179514 | &nbsp;&nbsp; 11767 |
|  | &nbsp;&nbsp;&nbsp;SBA Communications Corp. Class A | 41005 | &nbsp;&nbsp; 11494 |
|  | &nbsp;&nbsp;&nbsp;Digital Realty Trust Inc. | &nbsp;&nbsp;109275 | &nbsp;&nbsp; 10957 |
|  | &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 62383 | &nbsp;&nbsp; 9087 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CBRE Group Inc. Class A | &nbsp;&nbsp;114070 | &nbsp;&nbsp; 8779 |
|  | &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | 279621 | &nbsp;&nbsp; 8668 |
|  | &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | &nbsp;&nbsp; 53159 | &nbsp;&nbsp; 8586 |
|  | &nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;136436 | &nbsp;&nbsp; 8050 |
|  | &nbsp;&nbsp;&nbsp;Extra Space Storage Inc. | 50892 | &nbsp;&nbsp; 7490 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group Inc. | &nbsp;&nbsp; 62133 | &nbsp;&nbsp; 7299 |
|  | &nbsp;&nbsp;&nbsp;Invitation Homes Inc. | &nbsp;&nbsp;232274 | &nbsp;&nbsp; 6885 |
|  | &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities Inc. | 43838 | &nbsp;&nbsp; 6882 |
|  | &nbsp;&nbsp;&nbsp;Ventas Inc. | &nbsp;&nbsp;151900 | &nbsp;&nbsp; 6843 |
|  | &nbsp;&nbsp;&nbsp;Sun Communities Inc. | &nbsp;&nbsp; 47088 | &nbsp;&nbsp; 6734 |
|  | &nbsp;&nbsp;&nbsp;WP Carey Inc. | 79075 | &nbsp;&nbsp; 6180 |
|  | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | &nbsp;&nbsp;110463 | &nbsp;&nbsp; 5507 |
|  | &nbsp;&nbsp;&nbsp;Essex Property Trust Inc. | 24628 | &nbsp;&nbsp; 5219 |
|  | &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 204309 | &nbsp;&nbsp; 5122 |
|  | &nbsp;&nbsp;&nbsp;UDR Inc. | &nbsp;&nbsp;123750 | &nbsp;&nbsp; 4793 |
|  | &nbsp;&nbsp;&nbsp;Camden Property Trust | 40530 | &nbsp;&nbsp; 4535 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties Inc. | &nbsp;&nbsp; 53674 | &nbsp;&nbsp; 3627 |
|  | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts Inc. | &nbsp;&nbsp;135758 | &nbsp;&nbsp; 2179 |
|  | &nbsp;&nbsp;&nbsp;Regency Centers Corp. | 32599 | &nbsp;&nbsp; 2037 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zillow Group Inc. Class C | &nbsp;&nbsp; 60100 | &nbsp;&nbsp; 1936 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zillow Group Inc. Class A | &nbsp;&nbsp; 14600 | &nbsp;&nbsp; 456 |
|  |  |  | **200448** |
| **Technology (13.0%)** | **Technology (13.0%)** | **Technology (13.0%)** | **Technology (13.0%)** |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. Class A | &nbsp;&nbsp;226152 | &nbsp;&nbsp;&nbsp; 17219 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cadence Design Systems Inc. | &nbsp;&nbsp;104245 | &nbsp;&nbsp; 16746 |
|  | &nbsp;&nbsp;&nbsp;Microchip Technology Inc. | 208978 | &nbsp;&nbsp; 14681 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ON Semiconductor Corp. | &nbsp;&nbsp;164261 | &nbsp;&nbsp; 10245 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Gartner Inc. | 28537 | &nbsp;&nbsp; 9592 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 289245 | &nbsp;&nbsp; 9238 |
|  | &nbsp;&nbsp;&nbsp;CDW Corp. | 51462 | &nbsp;&nbsp; 9190 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ANSYS Inc. | &nbsp;&nbsp; 33142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8007 |
|  | &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 488968 | &nbsp;&nbsp; 7804 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Datadog Inc. Class A | 99828 | &nbsp;&nbsp; 7337 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Atlassian Corp. Class A | 56300 | &nbsp;&nbsp; 7245 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;VeriSign Inc. | &nbsp;&nbsp; 34189 | &nbsp;&nbsp; 7024 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;EPAM Systems Inc. | 20800 | &nbsp;&nbsp; 6817 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fortinet Inc. | &nbsp;&nbsp;126150 | &nbsp;&nbsp; 6167 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Paycom Software Inc. | &nbsp;&nbsp; 19392 | &nbsp;&nbsp; 6018 |
|  | &nbsp;&nbsp;&nbsp;Marvell Technology Inc. | &nbsp;&nbsp;162038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6002 |
|  | &nbsp;&nbsp;&nbsp;Monolithic Power Systems Inc. | &nbsp;&nbsp; 16908 | &nbsp;&nbsp; 5979 |
|  | &nbsp;&nbsp;&nbsp;Skyworks Solutions Inc. | 60929 | &nbsp;&nbsp; 5552 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Pinterest Inc. Class A | 223284 | &nbsp;&nbsp; 5421 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zoom Video Communications Inc. Class A | 79300 | &nbsp;&nbsp; 5372 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DoorDash Inc. Class A | &nbsp;&nbsp;109500 | &nbsp;&nbsp; 5346 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Splunk Inc. | 61787 | &nbsp;&nbsp; 5319 |
|  | &nbsp;&nbsp;&nbsp;Teradyne Inc. | 59200 | &nbsp;&nbsp; 5171 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tyler Technologies Inc. | &nbsp;&nbsp; 15800 | &nbsp;&nbsp; 5094 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;HubSpot Inc. | &nbsp;&nbsp; 17500 | &nbsp;&nbsp; 5060 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Akamai Technologies Inc. | 59752 | &nbsp;&nbsp; 5037 |
|  | &nbsp;&nbsp;&nbsp;NetApp Inc. | 82580 | &nbsp;&nbsp; 4960 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MongoDB Inc. Class A | 24838 | &nbsp;&nbsp; 4889 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cloudflare Inc. Class A | &nbsp;&nbsp;102796 | &nbsp;&nbsp; 4647 |
|  | &nbsp;&nbsp;&nbsp;Gen Digital Inc. | &nbsp;&nbsp;210363 | &nbsp;&nbsp; 4508 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;GoDaddy Inc. Class A | 58897 | &nbsp;&nbsp; 4407 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Match Group Inc. | &nbsp;&nbsp;106104 | &nbsp;&nbsp; 4402 |
|  | &nbsp;&nbsp;&nbsp;SS&C Technologies Holdings Inc. | 81361 | &nbsp;&nbsp; 4236 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DocuSign Inc. Class A | &nbsp;&nbsp; 76368 | &nbsp;&nbsp; 4232 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Palantir Technologies Inc. Class A | 639220 | &nbsp;&nbsp; 4104 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ZoomInfo Technologies Inc. Class A | &nbsp;&nbsp;130388 | &nbsp;&nbsp; 3926 |
|  | &nbsp;&nbsp;&nbsp;Seagate Technology Holdings plc | &nbsp;&nbsp; 74590 | &nbsp;&nbsp; 3924 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp;120528 | &nbsp;&nbsp; 3803 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Okta Inc. Class A | &nbsp;&nbsp; 54777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3743 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zscaler Inc. | 32900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3682 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Qorvo Inc. | &nbsp;&nbsp; 38578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3497 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Black Knight Inc. | &nbsp;&nbsp; 56285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3476 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Snap Inc. Class A | &nbsp;&nbsp;387200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3465 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Unity Software Inc. | &nbsp;&nbsp;&nbsp;117698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3365 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Twilio Inc. Class A | 66300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3246 |
|  | &nbsp;&nbsp;&nbsp;Bentley Systems Inc. Class B | &nbsp;&nbsp; 84118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3109 |
|  | &nbsp;&nbsp;&nbsp;Leidos Holdings Inc. | 26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2735 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;F5 Inc. | &nbsp;&nbsp; 11431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1640 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dropbox Inc. Class A | &nbsp;&nbsp; 51186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1146 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Toast Inc. Class A | &nbsp;&nbsp; 57591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1038 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;UiPath Inc. Class A | &nbsp;&nbsp;&nbsp; 57211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 727 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AppLovin Corp. Class A | &nbsp;&nbsp; 33133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **289939** |
| **Telecommunications (1.7%)** | **Telecommunications (1.7%)** | **Telecommunications (1.7%)** | **Telecommunications (1.7%)** |
|  | &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | &nbsp;&nbsp; 63531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16373 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arista Networks Inc. | &nbsp;&nbsp; 87060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10565 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Liberty Broadband Corp. Class C | &nbsp;&nbsp; 46039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3511 |
|  | &nbsp;&nbsp;&nbsp;Juniper Networks Inc. | &nbsp;&nbsp; 61639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1970 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Roku Inc. Class A | &nbsp;&nbsp; 46304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1884 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DISH Network Corp. Class A | &nbsp;&nbsp; 94631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1329 |
|  | &nbsp;&nbsp;&nbsp;Lumen Technologies Inc. | &nbsp;&nbsp;197087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1029 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Liberty Broadband Corp. Class A | &nbsp;&nbsp; 5986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 454 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **37115** |
| **Utilities (7.8%)** | **Utilities (7.8%)** | **Utilities (7.8%)** | **Utilities (7.8%)** |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | &nbsp;&nbsp;&nbsp; 97767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12960 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp;796191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12946 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Inc. | &nbsp;&nbsp;134839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12852 |
|  | &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | &nbsp;&nbsp;119863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11238 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | &nbsp;&nbsp;132384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11099 |
|  | &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp;124071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10696 |
|  | &nbsp;&nbsp;&nbsp;American Water Works Co. Inc. | &nbsp;&nbsp; 69162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10542 |
|  | &nbsp;&nbsp;&nbsp;Edison International | &nbsp;&nbsp;145141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9234 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | &nbsp;&nbsp; 98206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8732 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp; 77356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8703 |
|  | &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | &nbsp;&nbsp;206378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8655 |
|  | &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp;265767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7766 |
|  | &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp; 62596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7357 |
|  | &nbsp;&nbsp;&nbsp;AES Corp. | &nbsp;&nbsp;253823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7300 |
|  | &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | &nbsp;&nbsp;238995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7167 |
|  | &nbsp;&nbsp;&nbsp;CMS Energy Corp. | &nbsp;&nbsp;110292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6985 |
|  | &nbsp;&nbsp;&nbsp;Evergy Inc. | &nbsp;&nbsp; 87165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5485 |
|  | &nbsp;&nbsp;&nbsp;Alliant Energy Corp. | &nbsp;&nbsp; 95398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5267 |
|  | &nbsp;&nbsp;&nbsp;NiSource Inc. | &nbsp;&nbsp;154293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4231 |
|  | &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;151226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3508 |
|  | &nbsp;&nbsp;&nbsp;Avangrid Inc. | &nbsp;&nbsp; 29410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1264 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **173987** |
| **Total Common Stocks<br> (Cost $1,922,947)** | **Total Common Stocks<br> (Cost $1,922,947)** | **Total Common Stocks<br> (Cost $1,922,947)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2217757** |
| **Temporary Cash Investments (0.6%)** | **Temporary Cash Investments (0.6%)** | **Temporary Cash Investments (0.6%)** | **Temporary Cash Investments (0.6%)** |
| **Money Market Fund (0.6%)** | **Money Market Fund (0.6%)** | **Money Market Fund (0.6%)** | **Money Market Fund (0.6%)** |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334%<br> **(Cost $13,524)** | &nbsp;&nbsp;135246 | **13524** |
| **Total Investments (100.0%)<br> (Cost $1,936,471)** | **Total Investments (100.0%)<br> (Cost $1,936,471)** | **Total Investments (100.0%)<br> (Cost $1,936,471)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2231281** |
| **Other Assets and Liabilities—Net (0.0%)** | **Other Assets and Liabilities—Net (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2231266** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $6,100,000. |
| 2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 3 | Collateral of $6,289,000 was received for securities on loan. |

---

------

Mid-Cap Index Portfolio

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini Russell 2000 Index | March 2023 | 37 | 3276 | &nbsp;&nbsp;(17) |
| E-mini S&P 500 Index | March 2023 | 23 | 4440 | &nbsp;&nbsp;(77) |
| E-mini S&P Mid-Cap 400 Index | March 2023 | 15 | 3664 | &nbsp;&nbsp;(24) |
|  |  |  |  | &nbsp;&nbsp;(118) |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Mid-Cap Index Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $1,922,947) | &nbsp;&nbsp;2217757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $13,524) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13524 |
| Total Investments in Securities | 2231281 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3815 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580 |
| **Total Assets** | **2238990** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6289 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7724** |
| **Net Assets** | **2231266** |
| 1 Includes $6,100,000 of securities on loan. |  |
| <br> **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;1864745 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;366521 |
| **Net Assets** | **2231266** |
| **Net Assets** |  |
| **Applicable to 104,351,633 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **2231266** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$21.38** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Mid-Cap Index Portfolio

Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;35824 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 |
| Total Income | &nbsp;&nbsp;&nbsp;36423 |
| **Expenses** |  |
| The Vanguard Group—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;3474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;3985 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;3983 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;**32440** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2</sup> | &nbsp;&nbsp;&nbsp;42675 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;(1070) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;**41605** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | (592699) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(225) |
| **Change in Unrealized Appreciation (Depreciation)** | **(592924)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(518879)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $14,000. |
| 2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $100,000, less than $1,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Mid-Cap Index Portfolio

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26207 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249942 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(592924) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266299 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(518879) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542448 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(277011) | &nbsp;&nbsp;&nbsp;&nbsp;(190939) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;270019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357264 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190939 |
| Redeemed | &nbsp;&nbsp;&nbsp;(300821) | &nbsp;&nbsp;&nbsp;&nbsp;(359789) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;246209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188414 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(549681) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539923 |
| **Net Assets** |  |  |
| **Beginning of Period** | **2780947** | &nbsp;&nbsp;&nbsp;**2241024** |
| **End of Period** | **2231266** | &nbsp;&nbsp;&nbsp;**2780947** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Mid-Cap Index Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$29.48** | &nbsp;&nbsp;&nbsp;**$25.77** | &nbsp;&nbsp;&nbsp;**$24.03** | &nbsp;&nbsp;&nbsp;**$20.23** | &nbsp;&nbsp;&nbsp;**$23.72** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.325<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.343 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.464) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.386) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.043) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.282) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.318) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.350) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.286) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.673) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.898) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.805) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.161) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.955) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.216) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.632) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.155) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.447) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$21.38** | &nbsp;&nbsp;&nbsp;**$29.48** | &nbsp;&nbsp;&nbsp;**$25.77** | &nbsp;&nbsp;&nbsp;**$24.03** | &nbsp;&nbsp;&nbsp;**$20.23** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-18.82%** | &nbsp;&nbsp;&nbsp;**24.36%** | &nbsp;&nbsp;&nbsp;**18.07%** | &nbsp;&nbsp;&nbsp;**30.87%** | &nbsp;&nbsp;&nbsp;**-9.33%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$2231 | &nbsp;&nbsp;&nbsp;$2781 | &nbsp;&nbsp;&nbsp;$2241 | &nbsp;&nbsp;&nbsp;$2155 | &nbsp;&nbsp;&nbsp;$1621 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;0.17%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.17% | &nbsp;&nbsp;&nbsp;0.17% | &nbsp;&nbsp;&nbsp;0.17% | &nbsp;&nbsp;&nbsp;0.17% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.39% | &nbsp;&nbsp;&nbsp;1.03% | &nbsp;&nbsp;&nbsp;1.50%<sup>2</sup> | &nbsp;&nbsp;&nbsp;1.49% | &nbsp;&nbsp;&nbsp;1.49% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;16% | &nbsp;&nbsp;&nbsp;20% | &nbsp;&nbsp;&nbsp;28% | &nbsp;&nbsp;&nbsp;21% | &nbsp;&nbsp;&nbsp;21% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Net investment income per share and the ratio of net investment income to average net assets include $0.036 and 0.17%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
| 3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.17%. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Mid-Cap Index Portfolio

Notes to Financial Statements

The Mid-Cap Index Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The portfolio uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The portfolio may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of

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Mid-Cap Index Portfolio

prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

6. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $85,000, representing less than 0.01% of the portfolio's net assets and 0.03% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

C. The portfolio's custodian bank has agreed to reduce its fees when the portfolio maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset arrangements reduced the portfolio's expenses by $2,000 (an annual rate of less than 0.01% of average net assets).

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Mid-Cap Index Portfolio

D. Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments and derivatives was determined based on Level 1 inputs.

E. Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable passive foreign investment companies were reclassified between the individual components of total distributable earnings (loss).

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; the recognition of unrealized gains or losses from certain derivative contracts; and the recognition of unrealized gains from passive foreign investment companies. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;31196 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;41107 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;294218 |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;&nbsp;55522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46656 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;221489 | &nbsp;&nbsp;&nbsp;&nbsp;144283 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;277011 | &nbsp;&nbsp;&nbsp;&nbsp;190939 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1937063 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;543787 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(249569) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;294218 |

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F. During the year ended December 31, 2022, the portfolio purchased $378,981,000 of investment securities and sold $384,476,000 of investment securities, other than temporary cash investments.

The portfolio purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $23,975,000 and sales were $124,740,000, resulting in

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Mid-Cap Index Portfolio

net realized loss of $60,162,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital shares issued and redeemed were:

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| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022 | &nbsp;&nbsp;2021 |
|  | Shares<br> (000) | &nbsp;&nbsp;Shares<br> (000) |
| Issued | &nbsp;&nbsp;11614 | &nbsp;&nbsp;&nbsp;&nbsp;12978 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;11188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500 |
| Redeemed | (12791) | &nbsp;&nbsp;(13103) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;&nbsp;10011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7375 |

---

At December 31, 2022, one shareholder, (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 35% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

H. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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#### Report of Independent Registered

#### Public Accounting Firm
To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Mid-Cap Index Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Mid-Cap Index Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

‎ /s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 15, 2023‎

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds ‎since 1975.

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Tax information (unaudited)

For corporate shareholders, 91.7%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $26,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $221,489,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

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The CRSP US Mid Cap Index (the "Index") is a product of the Center for Research in Security Prices, LLC ("CRSP"), an affiliate of the University of Chicago ("University"), and has been licensed for use by Vanguard. CRSP<sup>®</sup> is a trademark of CRSP; and has been licensed by CRSP for use for certain purposes by Vanguard. The Vanguard Mid-Cap Index Portfolio is not sponsored, endorsed, sold or promoted by CRSP or University. Neither CRSP nor University makes any representation or warranty, express or implied, to the owners of the Vanguard Mid-Cap Index Portfolio or any member of the public regarding the advisability of investing in securities generally or in Vanguard Mid-Cap Index Portfolio particularly or the ability of the Index to track general market performance. The Index is determined, composed and calculated without regard to Vanguard or the Vanguard Mid-Cap Index Portfolio. Neither CRSP nor the University has any obligation to take the needs of Vanguard or the owners of Vanguard Mid-Cap Index Portfolio into consideration in determining, composing or calculating the Index. Neither CRSP nor the University is responsible for and has not participated in the determination of the prices and amount of Vanguard Mid-Cap Index Portfolio or the timing of the issuance or sale of Vanguard Mid-Cap Index Portfolio or in the determination or calculation of the equation by which Vanguard Mid-Cap Index Portfolio is to be converted into cash, surrendered or redeemed, as the case may be. Neither CRSP nor the University has any obligation or liability in connection with the administration, marketing or trading of Vanguard Mid-Cap Index Portfolio. There is no assurance that investment products based on the Index will accurately track index performance or provide positive investment returns. Neither CRSP nor the University is an investment advisor. Inclusion of a security within an index is not a recommendation by CRSP or the University to buy, sell, or hold such security, nor is it considered to be investment advice.

NEITHER CRSP NOR THE UNIVERSITY GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. NEITHER CRSP NOR THE UNIVERSITY SHALL BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. NEITHER CRSP NOR THE UNIVERSITY MAKES ANY EXPRESS OR IMPLIED WARRANTIES, AND CRSP AND THE UNIVERSITY EXPRESSLY DISCLAIM ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE VANGUARD MID-CAP INDEX PORTFOLIO, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL CRSP OR THE UNIVERSITY BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF IT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN CRSP AND VANGUARD, OTHER THAN THE LICENSORS, IF ANY, OF CRSP.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of

IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services

(2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

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| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. McIsaac** | **Lauren Valente** |

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![](tm231735d7midcapindxi006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People<br> Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your portfolio on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690MC 022023

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![](tm231735d7modalloporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Moderate Allocation Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Moderate Allocation Portfolio returned –15.93%, in line
with its benchmark index, the Moderate Allocation Composite Index, after factoring in the portfolio's expenses.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which weighed on bond prices and increased fears of recession.

• The portfolio targets an asset allocation of approximately 60% stocks and 40% bonds through these holdings: Vanguard Variable Insurance Funds Total Bond Market Index Portfolio and Equity Index Portfolio and
Admiral™ Shares of Vanguard Total International Bond Index Fund, Vanguard Total International Stock Index Fund, and Vanguard Extended Market Index Fund.

• The Total International Bond Index Fund return helped performance the most at –12.92%; the Total Bond Market Index Portfolio returned –13.21%. The Total International Stock Index Fund returned
 –16.01%, the Equity Index Portfolio –18.23%, and the Extended Market Index Fund –26.47%.

• The portfolio recorded an average annual return of 6.14% for the 10 years ended December 31, 2022 near its benchmark average of 6.43%.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. The Moderate Allocation Portfolio has no direct expenses, but bears its proportionate share of the costs for the underlying funds in which it invests. These indirect expenses make up the acquired fund fees and expenses, also expressed as a percentage of average net assets. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The costs were calculated using the acquired fund fees and expenses for the Moderate Allocation Portfolio.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Moderate Allocation Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1002.60 | &nbsp;&nbsp;&nbsp;&nbsp;$0.61 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 |

---

The calculations are based on acquired fund fees and expenses for the most recent six-month period. The underlying portfolios' annualized expense figure for that period is 0.12%. The dollar amounts shown as "Expenses Paid" are equal to the annualized average weighted expense ratio for the underlying funds multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Moderate Allocation Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7modalloporti002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7modalloporti003.jpg) | &nbsp;&nbsp;&nbsp;Moderate Allocation Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-15.93% | &nbsp;&nbsp;&nbsp;&nbsp;3.65% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.14% | &nbsp;&nbsp;&nbsp;&nbsp;$18152 |
| ![](tm231735d7modalloporti004.jpg) | &nbsp;&nbsp;&nbsp;Moderate Allocation Composite Index | &nbsp;&nbsp;&nbsp;&nbsp;-15.46 | &nbsp;&nbsp;&nbsp;&nbsp;3.98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18657 |
| ![](tm231735d7modalloporti005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

Moderate Allocation Composite Index: Weighted 36% S&P Total Market Index, 28% Bloomberg U.S. Aggregate Float Adjusted Index, 24% FTSE Global All Cap ex US Index, and 12% Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) as of April 1, 2017. Weighted 42% S&P Total Market Index, 32% Bloomberg U.S. Aggregate Float Adjusted Index, 18% FTSE Global All Cap ex US Index, and 8% Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) through March 31, 2017. Previously, the composite was weighted 42% S&P Total Market Index, 40% Bloomberg U.S. Aggregate Float Adjusted Index, and 18% MSCI ACWI ex USA IMI Index through June 2, 2013.

See Financial Highlights for dividend and capital gains information.

------

Moderate Allocation Portfolio

Underlying Vanguard Funds

As of December 31, 2022

---

| | |
|:---|:---|
| Vanguard Variable Insurance Funds—Equity Index Portfolio | 30.1% |
| Vanguard Variable Insurance Funds—Total Bond Market Index Portfolio | 28.1 |
| Vanguard Total International Stock Index Fund Admiral Shares | 24.5 |
| Vanguard Total International Bond Index Fund Admiral Shares | &nbsp;&nbsp;11.9 |
| Vanguard Extended Market Index Fund Admiral Shares | &nbsp;&nbsp;&nbsp;5.4 |

---

The table reflects the portfolio's investments, except for short-term investments.

------

Moderate Allocation Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | |
|:---|:---|:---|
|  | Shares | Market<br> Value• ($000) |
| **Investment Companies (100.0%)** | **Investment Companies (100.0%)** | **Investment Companies (100.0%)** |
| **U.S. Stock Funds (35.5%)** | **U.S. Stock Funds (35.5%)** | **U.S. Stock Funds (35.5%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Variable Insurance Funds—Equity Index Portfolio | &nbsp;&nbsp; 3271170 | &nbsp;&nbsp;&nbsp;&nbsp;165979 |
| &nbsp;&nbsp;&nbsp;Vanguard Extended Market Index Fund Admiral Shares | &nbsp;&nbsp;&nbsp;&nbsp;292479 | &nbsp;&nbsp;&nbsp;&nbsp; 29497 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**195476** |
| **International Stock Fund (24.5%)** | **International Stock Fund (24.5%)** | **International Stock Fund (24.5%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Total International Stock Index Fund Admiral Shares | &nbsp;&nbsp; 4844120 | &nbsp;&nbsp;&nbsp;&nbsp;134957 |
| **U.S. Bond Fund (28.1%)** | **U.S. Bond Fund (28.1%)** | **U.S. Bond Fund (28.1%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Variable Insurance Funds—Total Bond Market Index Portfolio | &nbsp;&nbsp;14970911 | &nbsp;&nbsp;&nbsp;&nbsp;154500 |
| **International Bond Fund (11.9%)** | **International Bond Fund (11.9%)** | **International Bond Fund (11.9%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Total International Bond Index Fund Admiral Shares | 3453591 | &nbsp;&nbsp;&nbsp;&nbsp; 65411 |
| **Total Investment Companies (Cost $577,000)** | **Total Investment Companies (Cost $577,000)** | &nbsp;&nbsp;&nbsp;&nbsp;**550344** |
| **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** |
| **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** |
| &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% **(Cost $—)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | **—** |
| **Total Investments (100.0%) (Cost $577,000)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**550344** |
| **Other Assets and Liabilities—Net (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**133** |
| **Net Assets (100%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**550477** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

------

Moderate Allocation Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value—Affiliated Funds (Cost $577,000) | 550344 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578 |
| **Total Assets** | **551871** |
| **Liabilities** |  |
| Due to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;**1394** |
| **Net Assets** | **550477** |
| <br> **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;547054 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;3423 |
| **Net Assets** | **550477** |
| **Net Assets** |  |
| **Applicable to 20,657,455 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **550477** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;**$26.65** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Moderate Allocation Portfolio

Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Income Distributions Received from Affiliated Funds | &nbsp;&nbsp;&nbsp;12064 |
| **Net Investment Income—Note B** | &nbsp;&nbsp;**12064** |
| **Realized Net Gain (Loss)** |  |
| Capital Gain Distributions Received from Affiliated Funds | &nbsp;&nbsp;&nbsp;10032 |
| Affiliated Funds Sold | &nbsp;&nbsp;&nbsp;&nbsp;8730 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;**18775** |
| **Change in Unrealized Appreciation (Depreciation) from Affiliated Funds** | **(148211)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(117372)** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Moderate Allocation Portfolio

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;12064 | &nbsp;&nbsp;&nbsp;&nbsp;14770 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;18775 | &nbsp;&nbsp;&nbsp;&nbsp;29914 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;(148211) | &nbsp;&nbsp;&nbsp;&nbsp;22282 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(117372) | &nbsp;&nbsp;&nbsp;&nbsp;66966 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;(44976) | &nbsp;&nbsp;&nbsp;&nbsp;(34631) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;60858 | &nbsp;&nbsp;&nbsp;&nbsp;87803 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;44976 | &nbsp;&nbsp;&nbsp;&nbsp;34631 |
| Redeemed | (134521) | &nbsp;&nbsp;&nbsp;&nbsp;(93222) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;(28687) | &nbsp;&nbsp;&nbsp;&nbsp;29212 |
| Total Increase (Decrease) | (191035) | &nbsp;&nbsp;&nbsp;&nbsp;61547 |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**741512** | &nbsp;&nbsp;&nbsp;**679965** |
| **End of Period** | &nbsp;&nbsp;**550477** | &nbsp;&nbsp;&nbsp;**741512** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Moderate Allocation Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$33.89** | &nbsp;&nbsp;&nbsp;**$32.45** | &nbsp;&nbsp;&nbsp;**$30.12** | &nbsp;&nbsp;&nbsp;**$26.46** | &nbsp;&nbsp;&nbsp;**$29.35** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.634 |
| Capital Gain Distributions Received<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.148 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.147) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.142) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.360) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.723) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.720) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.657) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.577) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.346) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.202) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.662) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.708) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.953) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.069) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.382) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.365) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.530) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$26.65** | &nbsp;&nbsp;&nbsp;**$33.89** | &nbsp;&nbsp;&nbsp;**$32.45** | &nbsp;&nbsp;&nbsp;**$30.12** | &nbsp;&nbsp;&nbsp;**$26.46** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-15.93%** | &nbsp;&nbsp;&nbsp;**10.07%** | &nbsp;&nbsp;&nbsp;**13.77%** | &nbsp;&nbsp;&nbsp;**19.53%** | &nbsp;&nbsp;&nbsp;**-4.94%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$550 | &nbsp;&nbsp;&nbsp;$742 | &nbsp;&nbsp;&nbsp;$680 | &nbsp;&nbsp;&nbsp;$532 | &nbsp;&nbsp;&nbsp;$400 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Acquired Fund Fees and Expenses | &nbsp;&nbsp;&nbsp;0.12% | &nbsp;&nbsp;&nbsp;0.12% | &nbsp;&nbsp;&nbsp;0.12% | &nbsp;&nbsp;&nbsp;0.12% | &nbsp;&nbsp;&nbsp;0.12% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.88% | &nbsp;&nbsp;&nbsp;2.09% | &nbsp;&nbsp;&nbsp;1.89% | &nbsp;&nbsp;&nbsp;2.54% | &nbsp;&nbsp;&nbsp;2.25% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;11% | &nbsp;&nbsp;&nbsp;10% | &nbsp;&nbsp;&nbsp;26% | &nbsp;&nbsp;&nbsp;13% | &nbsp;&nbsp;&nbsp;20% |

---

1 Calculated based on average shares outstanding.

See accompanying Notes, which are an integral part of the Financial Statements.

------

Moderate Allocation Portfolio

Notes to Financial Statements

The Moderate Allocation Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio follows a balanced investment strategy by investing in selected Vanguard funds and portfolios to achieve its targeted allocation of assets to U.S. and international stocks, and U.S. and international bonds. Financial statements and other information about each underlying fund and portfolio are available at www.vanguard.com. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial statements.

1. Security Valuation: Investments are valued at the net asset value of each underlying Vanguard fund determined as of the close of the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date.

2. Futures Contracts: The portfolio uses stock and bond futures contracts to a limited extent, with the objectives of maintaining full exposure to the market and maintaining its target asset allocation. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of investments held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented less than 1% of net assets, based on the average of the notional amounts at each quarter-end during the period. The portfolio had no open futures contracts at December 31, 2022.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and borne by the funds in which the portfolio invests (see Note B). Any borrowings under either facility bear interest at an

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Moderate Allocation Portfolio

agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

6. Other: Income and capital gain distributions received are recorded on the ex-dividend date.

Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of trustees. The FSA provides that expenses otherwise allocable to Vanguard funds-of-funds may be reduced or eliminated to the extent of savings realized by the underlying Vanguard funds by virtue of being part of a fund-of-funds. Accordingly, all expenses for services provided by Vanguard to the portfolio and all other expenses incurred by the portfolio during the period ended December 31, 2022, were borne by the underlying Vanguard funds in which the portfolio invests. The portfolio's trustees and officers are also trustees and officers, respectively, of the underlying Vanguard funds, as well as directors and employees, respectively, of Vanguard.

C. Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments was determined based on Level 1 inputs.

D. Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;11505 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;18736 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(26818) |

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Moderate Allocation Portfolio

The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;16641 | &nbsp;&nbsp;&nbsp;&nbsp;13468 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;28335 | &nbsp;&nbsp;&nbsp;&nbsp;21163 |
| Total | &nbsp;&nbsp;&nbsp;44976 | &nbsp;&nbsp;&nbsp;&nbsp;34631 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;577162 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;27975 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;(54793) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(26818) |

---

E. Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022 | &nbsp;&nbsp;2021 |
|  | Shares<br> (000) | &nbsp;&nbsp;Shares<br> (000) |
| Issued | &nbsp;&nbsp;2128 | &nbsp;&nbsp;&nbsp;&nbsp;2654 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;1503 | &nbsp;&nbsp;&nbsp;&nbsp;1101 |
| Redeemed | (4851) | &nbsp;&nbsp;(2832) |
| Net Increase (Decrease) in Shares Outstanding | (1220) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 75% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might lead to the realization of taxable capital gains.

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Moderate Allocation Portfolio

F. Transactions during the period in affiliated underlying Vanguard funds were as follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions |  |
|  | Dec. 31, 2021<br> Market Value<br> ($000) | Purchases<br> at Cost<br> ($000) | Proceeds<br> from<br> Securities<br> Sold<br> ($000) | Realized<br> Net Gain<br> (Loss)<br> ($000) | Change in<br> Unrealized<br> App. (Dep.)<br> ($000) | Income<br> ($000) | Capital Gain<br> Distributions<br> Received<br> ($000) | Dec. 31, 2022<br> Market Value<br> ($000) |
| Vanguard Extended Market Index Fund | &nbsp;&nbsp;44293 | &nbsp;&nbsp;&nbsp;1545 | &nbsp;&nbsp;&nbsp;&nbsp;4319 | &nbsp;&nbsp;1672 | &nbsp;&nbsp;&nbsp;(13694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;29497 |
| Vanguard Market Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Vanguard Total International Bond Index Fund | &nbsp;&nbsp;88552 | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;13873 | (1188) | &nbsp;&nbsp;&nbsp;(10880) | &nbsp;&nbsp;&nbsp;1037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;65411 |
| Vanguard Total International Stock Index Fund | 177024 | 16378 | &nbsp;&nbsp;&nbsp;26307 | &nbsp;&nbsp;1780 | &nbsp;&nbsp;&nbsp;(33918) | &nbsp;&nbsp;&nbsp;4317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 134957 |
| Vanguard Variable Insurance Funds—Equity Index Portfolio | 224272 | 25206 | &nbsp;&nbsp;&nbsp;32289 | &nbsp;&nbsp;9694 | &nbsp;&nbsp;(60904) | &nbsp;&nbsp;&nbsp;2603 | &nbsp;&nbsp;&nbsp;8703 | 165979 |
| Vanguard Variable Insurance Funds—Total Bond Market Index Portfolio | 206838 | &nbsp;&nbsp;21741 | &nbsp;&nbsp;&nbsp;42037 | (3228) | &nbsp;&nbsp;&nbsp;(28814) | &nbsp;&nbsp;&nbsp;3745 | &nbsp;&nbsp;&nbsp;1329 | 154500 |
| Total | 741007 | &nbsp;&nbsp;67670 | 118825 | &nbsp;&nbsp;8730 | (148211) | 12064 | 10032 | 550344 |

---

1 Not applicable—purchases and sales are for temporary cash investment purposes.

G. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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#### Report of Independent Registered

#### Public Accounting Firm
To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Moderate Allocation ‎Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of ‎investments, of Moderate Allocation Portfolio (one of the portfolios constituting Vanguard Variable ‎Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement ‎of operations for the year ended December 31, 2022, the statement of changes in net assets for each of ‎the two years in the period ended December 31, 2022, including the related notes, and the financial ‎highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as ‎the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, ‎the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year ‎then ended, the changes in its net assets for each of the two years in the period ended December 31, ‎‎2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in ‎conformity with accounting principles generally accepted in the United States of America. ‎

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to ‎express an opinion on the Portfolio's financial statements based on our audits. We are a public ‎accounting firm registered with the Public Company Accounting Oversight Board (United States) ‎‎(PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. ‎federal securities laws and the applicable rules and regulations of the Securities and Exchange ‎Commission and the PCAOB. ‎

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. ‎Those standards require that we plan and perform the audit to obtain reasonable assurance about whether ‎the financial statements are free of material misstatement, whether due to error or fraud. ‎

Our audits included performing procedures to assess the risks of material misstatement of the financial ‎statements, whether due to error or fraud, and performing procedures that respond to those risks. Such ‎procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the ‎financial statements. Our audits also included evaluating the accounting principles used and significant ‎estimates made by management, as well as evaluating the overall presentation of the financial ‎statements. Our procedures included confirmation of securities owned as of December 31, 2022 by ‎correspondence with the transfer agent. We believe that our audits provide a reasonable basis for our ‎opinion.‎

‎ /s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 15, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds ‎since 1975.

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Tax information (unaudited)

For corporate shareholders, 24.5%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $1,374,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $28,335,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

The portfolio hereby designates 23.7%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of section 163(j) and the regulations thereunder for the fiscal year.

The portfolio designates to shareholders foreign source income of $5,585,000 and foreign taxes paid of $393,000, or if subsequently determined to be different, the maximum amounts allowable by law. Form 1099-DIV reports calendar-year amounts that can be included on the income tax return of shareholders.

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"Bloomberg<sup>®</sup>," Bloomberg U.S. Aggregate Float Adjusted Index, and Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).

The Moderate Allocation Portfolio is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Moderate Allocation Portfolio or any member of the public regarding the advisability of investing in securities generally or in the Moderate Allocation Portfolio particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Aggregate Float Adjusted Index and Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) (the Indices), which are determined, composed and calculated by BISL without regard to Vanguard or the Moderate Allocation Portfolio. Bloomberg has no obligation to take the needs of Vanguard or the owners of the Moderate Allocation Portfolio into consideration in determining, composing or calculating the Indices. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Moderate Allocation Portfolio to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Moderate Allocation Portfolio customers, in connection with the administration, marketing or trading of the Moderate Allocation Portfolio.

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE MODERATE ALLOCATION PORTFOLIO OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDICES OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE MODERATE ALLOCATION PORTFOLIO OR THE INDICES OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.

<sup>©</sup> 2023 Bloomberg.

Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of

IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services

(2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. McIsaac** | **Lauren Valente** |

---

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![](tm231735d7modalloporti006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People<br> Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your portfolio on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690MA 022023

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![](tm231735d7mnymrktporti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Money Market Portfolio

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*Contents*

About Your Portfolio's Expenses 1 <br> Financial Statements 3

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Money Market Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1013.60 | &nbsp;&nbsp;&nbsp;&nbsp;$0.76 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.77 |

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The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.15%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

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Money Market Portfolio

Distribution by Effective Maturity<sup>1</sup>

As of December 31, 2022

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| | |
|:---|:---|
| 1 - 7 Days | 65.6% |
| 8 - 30 Days | 18.1 |
| 31 - 60 Days | &nbsp;&nbsp;&nbsp;7.2 |
| 61 - 90 Days | &nbsp;&nbsp;&nbsp;5.0 |
| 91 - 180 Days | &nbsp;&nbsp;&nbsp;4.1 |

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1 Percentage of investments.

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Money Market Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio publishes its holdings on a monthly basis on Vanguard's website and files them with the Securities and Exchange Commission (SEC) on Form N-MFP. The portfolio's Form N-MFP filings may be viewed via a link on the "Portfolio Holdings" page at www.vanguard.com or on the SEC's website at www.sec.gov.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Yield<sup>1</sup> | Maturity<br> Date | Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| **U.S. Government and Agency Obligations (54.6%)** | **U.S. Government and Agency Obligations (54.6%)** | **U.S. Government and Agency Obligations (54.6%)** | **U.S. Government and Agency Obligations (54.6%)** | **U.S. Government and Agency Obligations (54.6%)** | **U.S. Government and Agency Obligations (54.6%)** |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., EFFR - 0.020% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/3/23 | 1000 | &nbsp;&nbsp; 1000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., EFFR - 0.150% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.315% | 1/3/23 | 5000 | &nbsp;&nbsp;&nbsp; 4999 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., EFFR + 0.380% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.710% | 1/3/23 | 1980 | &nbsp;&nbsp;&nbsp; 1982 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., SOFR + 0.013% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.313% | 1/3/23 | 1000 | &nbsp;&nbsp; 1000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., SOFR + 0.020% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.320% | 1/3/23 | 4215 | &nbsp;&nbsp;&nbsp; 4214 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., SOFR + 0.035% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.335% | 1/3/23 | 10000 | &nbsp;&nbsp;&nbsp; 10000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., SOFR + 0.035% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.335% | 1/3/23 | 3000 | &nbsp;&nbsp; 3000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/3/23 | 1000 | &nbsp;&nbsp; 1000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., SOFR + 0.060% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.360% | 1/3/23 | 17000 | &nbsp;&nbsp;&nbsp; 17000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., SOFR + 0.120% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.420% | 1/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp;&nbsp; 751 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp., SOFR + 0.380% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.680% | 1/3/23 | 7900 | &nbsp;&nbsp;&nbsp; 7909 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.746% | 5/23/23 | 3500 | &nbsp;&nbsp;&nbsp; 3435 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.270% | 1/10/23 | 3935 | &nbsp;&nbsp;&nbsp; 3935 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.940% | 1/12/23 | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp; 315 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250% | 4/14/23 | 6935 | &nbsp;&nbsp;&nbsp; 6935 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.897% | 1/4/23 | 2760 | &nbsp;&nbsp;&nbsp; 2759 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 3.751%–4.354% | 1/11/23 | 8599 | &nbsp;&nbsp;&nbsp; 8589 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 3.909%–4.060% | 1/13/23 | 16560 | &nbsp;&nbsp;&nbsp; 16538 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.996% | 1/18/23 | 2000 | &nbsp;&nbsp;&nbsp; 1996 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 3.775%–4.080% | 1/20/23 | 15965 | &nbsp;&nbsp;&nbsp; 15929 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.925% | 1/25/23 | 5496 | &nbsp;&nbsp;&nbsp; 5481 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.192% | 1/27/23 | 7281 | &nbsp;&nbsp;&nbsp; 7259 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.254% | 1/30/23 | 2175 | &nbsp;&nbsp;&nbsp; 2168 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 3.720%–4.217% | 2/1/23 | 9146 | &nbsp;&nbsp;&nbsp; 9114 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.129% | 2/6/23 | 5491 | &nbsp;&nbsp;&nbsp; 5469 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.289% | 2/8/23 | 2000 | &nbsp;&nbsp;&nbsp; 1991 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 4.255%–4.395% | 2/10/23 | 33762 | &nbsp;&nbsp;&nbsp; 33602 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 3.993%–4.334% | 2/14/23 | 4556 | &nbsp;&nbsp;&nbsp; 4534 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 4.196%–4.283% | 2/15/23 | 9539 | &nbsp;&nbsp;&nbsp; 9489 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 4.294%–4.298% | 2/17/23 | 6384 | &nbsp;&nbsp;&nbsp; 6349 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 4.435%–4.449% | 2/22/23 | 15000 | &nbsp;&nbsp;&nbsp; 14905 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 4.414%–4.487% | 3/3/23 | 13800 | &nbsp;&nbsp;&nbsp; 13696 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.491% | 3/8/23 | 10629 | &nbsp;&nbsp;&nbsp; 10543 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Yield<sup>1</sup> | Maturity<br> Date | Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 4.175%–4.474% | 3/10/23 | 20000 | &nbsp;&nbsp;&nbsp; 19833 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.473% | 3/13/23 | &nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp; 982 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 4.473%–4.485% | 3/17/23 | 15952 | &nbsp;&nbsp;&nbsp; 15806 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.550% | 3/24/23 | &nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp; 782 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.243% | 4/12/23 | 1000 | &nbsp;&nbsp;&nbsp; 988 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.618% | 4/17/23 | 4653 | &nbsp;&nbsp;&nbsp; 4590 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.626% | 4/18/23 | 1977 | &nbsp;&nbsp;&nbsp; 1951 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.707% | 4/28/23 | 1921 | &nbsp;&nbsp;&nbsp; 1893 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.811% | 5/5/23 | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 541 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.739% | 5/15/23 | 1978 | &nbsp;&nbsp;&nbsp; 1944 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | 4.712%–4.739% | 5/16/23 | 10330 | &nbsp;&nbsp;&nbsp; 10153 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.774% | 5/22/23 | 1976 | &nbsp;&nbsp;&nbsp; 1940 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.860% | 6/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;956 | &nbsp;&nbsp;&nbsp; 937 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.806% | 6/5/23 | 3000 | &nbsp;&nbsp;&nbsp; 2940 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks Discount Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.935% | 6/9/23 | &nbsp;&nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp; 801 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.005% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.305% | 1/3/23 | 11000 | &nbsp;&nbsp;&nbsp; 11000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/3/23 | 15300 | &nbsp;&nbsp;&nbsp; 15300 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/3/23 | 11700 | &nbsp;&nbsp;&nbsp; 11700 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/3/23 | 11000 | &nbsp;&nbsp;&nbsp; 11000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/3/23 | 3900 | &nbsp;&nbsp; 3900 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/3/23 | 3205 | &nbsp;&nbsp;&nbsp; 3205 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/3/23 | 2400 | &nbsp;&nbsp; 2400 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/3/23 | 1965 | &nbsp;&nbsp;&nbsp; 1965 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.635% | 1/3/23 | 1280 | &nbsp;&nbsp;&nbsp; 1280 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/3/23 | 1100 | &nbsp;&nbsp;&nbsp; 1100 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.310% | 1/20/23 | 7700 | &nbsp;&nbsp;&nbsp; 7700 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.015% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.315% | 1/3/23 | 11000 | &nbsp;&nbsp;&nbsp; 11000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.015% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.315% | 1/3/23 | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp; 235 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.020% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.320% | 1/3/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.020% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.320% | 1/3/23 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 500 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.020% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.320% | 1/20/23 | 3900 | &nbsp;&nbsp; 3900 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.020% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.320% | 1/20/23 | 3700 | &nbsp;&nbsp; 3700 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.020% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.320% | 1/20/23 | 3500 | &nbsp;&nbsp; 3500 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.020% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.320% | 1/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 400 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.025% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.325% | 1/3/23 | 6000 | &nbsp;&nbsp; 6000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.025% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.325% | 1/3/23 | 6000 | &nbsp;&nbsp; 6000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.025% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.325% | 1/3/23 | 2980 | &nbsp;&nbsp;&nbsp; 2980 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.030% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.330% | 1/3/23 | 3390 | &nbsp;&nbsp;&nbsp; 3390 |

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Money Market Portfolio

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Yield<sup>1</sup> | Maturity<br> Date | Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.030% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.330% | 1/3/23 | 3100 | &nbsp;&nbsp;&nbsp; 3100 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.030% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.330% | 1/20/23 | 6400 | &nbsp;&nbsp; 6400 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.030% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.330% | 1/20/23 | 3900 | &nbsp;&nbsp; 3900 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.030% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.330% | 1/20/23 | 3300 | &nbsp;&nbsp; 3300 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.030% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.330% | 1/20/23 | 2000 | &nbsp;&nbsp; 2000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.035% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.335% | 1/3/23 | 1020 | &nbsp;&nbsp;&nbsp; 1020 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.040% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.340% | 1/3/23 | 15000 | &nbsp;&nbsp;&nbsp; 15000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.040% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.340% | 1/3/23 | 6300 | &nbsp;&nbsp; 6300 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.040% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.340% | 1/3/23 | 6100 | &nbsp;&nbsp;&nbsp; 6100 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.040% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.340% | 1/3/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.040% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.340% | 1/20/23 | 6000 | &nbsp;&nbsp; 6000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.040% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.340% | 1/20/23 | 5800 | &nbsp;&nbsp; 5800 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.040% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.340% | 1/20/23 | 3900 | &nbsp;&nbsp; 3900 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/3/23 | 5000 | &nbsp;&nbsp; 5000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/3/23 | 3940 | &nbsp;&nbsp;&nbsp; 3940 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/3/23 | 3940 | &nbsp;&nbsp;&nbsp; 3940 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/3/23 | 3935 | &nbsp;&nbsp;&nbsp; 3935 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/3/23 | 2950 | &nbsp;&nbsp;&nbsp; 2950 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/3/23 | 2900 | &nbsp;&nbsp; 2900 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/3/23 | 1000 | &nbsp;&nbsp; 1000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/20/23 | 3800 | &nbsp;&nbsp; 3800 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/20/23 | 3120 | &nbsp;&nbsp;&nbsp; 3120 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/20/23 | 2980 | &nbsp;&nbsp;&nbsp; 2980 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.045% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.345% | 1/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.050% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350% | 1/3/23 | 2000 | &nbsp;&nbsp; 2000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.050% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350% | 1/20/23 | 5900 | &nbsp;&nbsp; 5900 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.050% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.050% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.050% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350% | 1/20/23 | 3000 | &nbsp;&nbsp; 3000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.050% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350% | 1/20/23 | 2900 | &nbsp;&nbsp; 2900 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.050% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350% | 1/20/23 | 2000 | &nbsp;&nbsp; 2000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/3/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/3/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/3/23 | 3000 | &nbsp;&nbsp; 3000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/3/23 | 2200 | &nbsp;&nbsp; 2200 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/20/23 | 3500 | &nbsp;&nbsp; 3500 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Yield<sup>1</sup> | Maturity<br> Date | Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/20/23 | 3000 | &nbsp;&nbsp; 3000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.055% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.355% | 1/20/23 | 2000 | &nbsp;&nbsp; 2000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.060% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.360% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.060% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.360% | 1/20/23 | 3900 | &nbsp;&nbsp; 3900 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.060% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.360% | 1/20/23 | 3900 | &nbsp;&nbsp; 3900 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.065% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.365% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.065% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.365% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.065% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.365% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.065% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.365% | 1/20/23 | 2000 | &nbsp;&nbsp; 2000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.070% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.370% | 1/20/23 | 2000 | &nbsp;&nbsp; 2000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, SOFR + 0.075% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375% | 1/20/23 | 4000 | &nbsp;&nbsp; 4000 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Bill | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.126% | 4/13/23 | 2348 | &nbsp;&nbsp;&nbsp; 2321 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Bill | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.922% | 4/20/23 | 3000 | &nbsp;&nbsp;&nbsp; 2983 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Bill | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.141% | 6/15/23 | 5000 | &nbsp;&nbsp;&nbsp; 4931 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United States Treasury Floating Rate Note, United States Treasury 3M Bill Money Market Yield - 0.075% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.323% | 1/3/23 | 2763 | &nbsp;&nbsp;&nbsp; 2760 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United States Treasury Floating Rate Note, United States Treasury 3M Bill Money Market Yield + 0.034% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.432% | 1/3/23 | 7500 | &nbsp;&nbsp;&nbsp; 7500 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United States Treasury Floating Rate Note, United States Treasury 3M Bill Money Market Yield + 0.037% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.435% | 1/3/23 | 5000 | &nbsp;&nbsp; 5000 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United States Treasury Floating Rate Note, United States Treasury 3M Bill Money Market Yield + 0.049% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.447% | 1/3/23 | 13000 | &nbsp;&nbsp;&nbsp; 13000 |
| **Total U.S. Government and Agency Obligations (Cost $664,502)** | **Total U.S. Government and Agency Obligations (Cost $664,502)** | **Total U.S. Government and Agency Obligations (Cost $664,502)** | **Total U.S. Government and Agency Obligations (Cost $664,502)** | **Total U.S. Government and Agency Obligations (Cost $664,502)** | &nbsp;&nbsp;&nbsp;&nbsp;**664502** |
| **Repurchase Agreements (45.8%)** | **Repurchase Agreements (45.8%)** | **Repurchase Agreements (45.8%)** | **Repurchase Agreements (45.8%)** | **Repurchase Agreements (45.8%)** | **Repurchase Agreements (45.8%)** |
|  | &nbsp;&nbsp;&nbsp;BNP Paribas Securities Corp.<br> (Dated 12/30/22, Repurchase Value $26,012,000, collateralized by U.S. Treasury Note/Bond 1.250%–2.625%, 2/15/23–3/31/28, with a value of $26,520,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250% | 1/3/23 | 26000 | &nbsp;&nbsp; 26000 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce<br> (Dated 12/1/22, Repurchase Value $1,004,000, collateralized by U.S. Treasury Inflation Indexed Note/Bond 0.125%–1.000%, 4/15/24–2/15/49, and U.S. Treasury Note/Bond 0.750%–4.500%, 7/31/24–2/15/47, with a value of $1,020,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.120% | 1/3/23 | 1000 | &nbsp;&nbsp; 1000 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce<br> (Dated 12/2/22, Repurchase Value $1,004,000, collateralized by U.S. Treasury Bill 0.000%, 2/21/23, U.S. Treasury Inflation Indexed Note/Bond 0.125%–0.500%, 4/15/24–7/15/31, and U.S. Treasury Note/Bond 0.375%–4.375%, 9/15/24–8/15/42, with a value of $1,020,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.130% | 1/3/23 | 1000 | &nbsp;&nbsp; 1000 |

---

------

Money Market Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Yield<sup>1</sup> | Maturity<br> Date | Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce<br> (Dated 12/8/22, Repurchase Value $393,000, collateralized by U.S. Treasury Inflation Indexed Note/Bond 0.125%–1.625%, 10/15/24–2/15/50, and U.S. Treasury Note/Bond 0.500%–4.375%, 1/31/26–11/15/50, with a value of $400,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.210% | 1/5/23 | &nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp;&nbsp; 392 |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce<br> (Dated 12/6/22, Repurchase Value $2,007,000, collateralized by U.S. Treasury Bill 0.000%, 2/21/23, U.S. Treasury Inflation Indexed Note/Bond 0.125%–1.625%, 10/15/24–10/15/27, and U.S. Treasury Note/Bond 0.375%–4.125%, 2/29/24–11/15/46, with a value of $2,040,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.190% | 1/6/23 | 2000 | &nbsp;&nbsp; 2000 |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce<br> (Dated 11/2/22, Repurchase Value $3,025,000, collateralized by U.S. Treasury Bill 0.000%, 2/21/23, U.S. Treasury Inflation Indexed Note/Bond 0.125%–2.125%, 10/15/26–2/15/48, and U.S. Treasury Note/Bond 0.375%–4.125%, 9/15/24–8/15/31, with a value of $3,060,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.110% | 1/13/23 | 3000 | &nbsp;&nbsp; 3000 |
| &nbsp;&nbsp;&nbsp;Fixed Income Clearing Corp.<br> (Dated 12/30/22, Repurchase Value $60,028,000, collateralized by U.S. Treasury Note/Bond 3.875%, 9/30/29, with a value of $61,500,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.260% | 1/3/23 | 60000 | &nbsp;&nbsp; 60000 |
| &nbsp;&nbsp;&nbsp;Fixed Income Clearing Corp.<br> (Dated 12/30/22, Repurchase Value $53,025,000, collateralized by U.S. Treasury Inflation Indexed Note/Bond 0.625%, 7/15/32, with a value of $54,060,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300% | 1/3/23 | 53000 | &nbsp;&nbsp; 53000 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs & Co.<br> (Dated 12/30/22, Repurchase Value $59,387,000, collateralized by U.S. Treasury Note/Bond 2.625%, 4/15/25, with a value of $60,546,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250% | 1/3/23 | 59359 | &nbsp;&nbsp;&nbsp; 59359 |
| &nbsp;&nbsp;&nbsp;JP Morgan Securities LLC<br> (Dated 12/30/22, Repurchase Value $59,028,000, collateralized by U.S. Treasury Bill 0.000%, 2/14/23, and U.S. Treasury Note/Bond 0.250%–3.000%, 4/15/23–11/15/45, with a value of $60,180,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.260% | 1/3/23 | 59000 | &nbsp;&nbsp; 59000 |
| &nbsp;&nbsp;&nbsp;MUFG Securities America Inc.<br> (Dated 12/30/22, Repurchase Value $59,028,000, collateralized by U.S. Treasury Note/Bond 0.250%–4.447%, 1/31/23–9/30/25, with a value of $60,180,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250% | 1/3/23 | 59000 | &nbsp;&nbsp; 59000 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Yield<sup>1</sup> | Maturity<br> Date | Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Nomura International plc<br> (Dated 12/30/22, Repurchase Value $54,026,000, collateralized by U.S. Treasury Bill 0.000%, 7/13/23, and U.S. Treasury Note/Bond 0.250%–4.625%, 1/31/23–2/15/40, with a value of $55,080,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300% | 1/3/23 | 54000 | &nbsp;&nbsp; 54000 |
| &nbsp;&nbsp;&nbsp;RBC Capital Markets LLC<br> (Dated 12/1/22, Repurchase Value $3,011,000, collateralized by U.S. Treasury Inflation Indexed Note/Bond 0.125%–1.000%, 4/15/27–2/15/52, and U.S. Treasury Note/Bond 1.500%–3.500%, 4/30/24–8/15/49, with a value of $3,060,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.120% | 1/3/23 | 3000 | &nbsp;&nbsp; 3000 |
| &nbsp;&nbsp;&nbsp;RBC Capital Markets LLC<br> (Dated 12/2/22, Repurchase Value $3,011,000, collateralized by U.S. Treasury Bill 0.000%, 5/4/23, U.S. Treasury Inflation Indexed Note/Bond 1.000%, 2/15/48, and U.S. Treasury Note/Bond 0.125%–6.375%, 2/28/23– 8/15/48, with a value of $3,060,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.130% | 1/3/23 | 3000 | &nbsp;&nbsp; 3000 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada<br> (Dated 12/7/22, Repurchase Value $3,019,000, collateralized by U.S. Treasury Note/Bond 1.375%, 9/30/23, with a value of $3,060,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250% | 1/31/23 | 3000 | &nbsp;&nbsp; 3000 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada<br> (Dated 12/1/22, Repurchase Value $4,028,000, collateralized by U.S. Treasury Note/Bond 1.375%, 9/30/23, with a value of $4,080,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.220% | 1/30/23 | 4000 | &nbsp;&nbsp; 4000 |
| &nbsp;&nbsp;&nbsp;Standard Chartered Bank<br> (Dated 12/30/22, Repurchase Value $55,026,000, collateralized by U.S. Treasury Inflation Indexed Note/Bond 0.125%–1.000%, 1/15/29–2/15/51, and U.S. Treasury Note/Bond 0.125%–4.375%, 12/31/23–8/15/52, with a value of $56,127,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300% | 1/3/23 | 55000 | &nbsp;&nbsp; 55000 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Banking Corp.<br> (Dated 12/30/22, Repurchase Value $58,028,000, collateralized by U.S. Treasury Note/Bond 1.750%, 7/31/24, with a value of $59,160,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300% | 1/3/23 | 58000 | &nbsp;&nbsp; 58000 |

---

------

Money Market Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Yield<sup>1</sup> | Maturity<br> Date | Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;TD Securities (USA) LLC<br> (Dated 12/30/22, Repurchase Value $53,025,000, collateralized by U.S. Treasury Note/Bond 0.375%–2.500%, 1/31/24–5/15/30, with a value of $54,060,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300% | 1/3/23 | 53000 | &nbsp;&nbsp; 53000 |
| **Total Repurchase Agreements (Cost $556,751)** | **Total Repurchase Agreements (Cost $556,751)** | **Total Repurchase Agreements (Cost $556,751)** | **Total Repurchase Agreements (Cost $556,751)** | &nbsp;&nbsp;&nbsp;&nbsp;**556751** |
| **Total Investments (100.4%) (Cost $1,221,253)** | **Total Investments (100.4%) (Cost $1,221,253)** | **Total Investments (100.4%) (Cost $1,221,253)** | **Total Investments (100.4%) (Cost $1,221,253)** | &nbsp;&nbsp;&nbsp;**1221253** |
| **Other Assets and Liabilities—Net (-0.4%)** | **Other Assets and Liabilities—Net (-0.4%)** | **Other Assets and Liabilities—Net (-0.4%)** | **Other Assets and Liabilities—Net (-0.4%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4271)** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | &nbsp;&nbsp;&nbsp;**1216982** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| 1 | Represents annualized yield at date of purchase for discount securities, and coupon for coupon-bearing securities. |
| 2 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
|  | 3M—3-month. |
|  | EFFR—Effective Federal Funds Rate. |
|  | SOFR—Secured Overnight Financing Rate. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Money Market Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $664,502) | &nbsp;&nbsp;&nbsp;&nbsp;664502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase Agreements (Cost $556,751) | &nbsp;&nbsp;&nbsp;&nbsp;556751 |
| Total Investments in Securities | 1221253 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2454 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| **Total Assets** | **1223802** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4356 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2384 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6820** |
| **Net Assets** | **1216982** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;1216970 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| **Net Assets** | **1216982** |
| **Net Assets** |  |
| **Applicable to 1,216,570,804 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **1216982** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1.00** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Money Market Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Interest | 19797 |
| Total Income | 19797 |
| **Expenses** |  |
| The Vanguard Group—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;1542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Total Expenses | &nbsp;&nbsp;1774 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) |
| Expense Reduction—Note B | &nbsp;&nbsp;&nbsp;&nbsp;(106) |
| Net Expenses | &nbsp;&nbsp;1662 |
| **Net Investment Income** | **18135** |
| **Realized Net Gain (Loss) on Investment Securities Sold** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **18150** |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18174) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(187) |
| **Capital Share Transactions (at $1.00 per share)** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;368640 | &nbsp;&nbsp;&nbsp;&nbsp;243373 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 |
| Redeemed | &nbsp;&nbsp;&nbsp;(275627) | &nbsp;&nbsp;&nbsp;&nbsp;(439128) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;111187 | &nbsp;&nbsp;&nbsp;&nbsp;(195568) |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;111163 | &nbsp;&nbsp;&nbsp;&nbsp;(195607) |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**1105819** | &nbsp;&nbsp;&nbsp;**1301426** |
| **End of Period** | **1216982** | &nbsp;&nbsp;&nbsp;**1105819** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Money Market Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$1.00** | &nbsp;&nbsp;&nbsp;**$1.00** | &nbsp;&nbsp;&nbsp;**$1.00** | &nbsp;&nbsp;&nbsp;**$1.00** | &nbsp;&nbsp;&nbsp;**$1.00** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.0154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.0001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.020 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.0004) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.0150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.0001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.020 |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.0150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.0001) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.005) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.022) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.020) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.0000)<sup>2</sup> | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.0150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.0001) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.005) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.022) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.020) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$1.00** | &nbsp;&nbsp;&nbsp;**$1.00** | &nbsp;&nbsp;&nbsp;**$1.00** | &nbsp;&nbsp;&nbsp;**$1.00** | &nbsp;&nbsp;&nbsp;**$1.00** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**1.51%** | &nbsp;&nbsp;&nbsp;**0.02%** | &nbsp;&nbsp;&nbsp;**0.52%** | &nbsp;&nbsp;&nbsp;**2.26%** | &nbsp;&nbsp;&nbsp;**1.97%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$1217 | &nbsp;&nbsp;&nbsp;$1106 | &nbsp;&nbsp;&nbsp;$1301 | &nbsp;&nbsp;&nbsp;$1243 | &nbsp;&nbsp;&nbsp;$1218 |
| Ratio of Expenses to Average Net Assets<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.14%<sup>4</sup> | &nbsp;&nbsp;&nbsp;0.07% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;0.15% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.54% | &nbsp;&nbsp;&nbsp;0.01% | &nbsp;&nbsp;&nbsp;0.49% | &nbsp;&nbsp;&nbsp;2.23% | &nbsp;&nbsp;&nbsp;1.97% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Distribution was less than $0.0001 per share. |
| 3 | Vanguard and the board of trustees have agreed to temporarily limit certain net operating expenses in excess of the portfolio's daily yield in order to maintain a zero or positive yield for the portfolio. Vanguard and the board of trustees may terminate the temporary expense limitation at any time. The portfolio is not obligated to repay this amount to Vanguard. The ratio of total expenses to average net assets before an expense reduction was 0.15% for 2022, 0.15% for 2021 and 0.15% for 2020. For the years ended December 31, 2019 and 2018, there were no expense reductions. |
| 4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.14%. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Money Market Portfolio

Notes to Financial Statements

The Money Market Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

The portfolio invests in repurchase agreements and short-term debt instruments of companies primarily operating in specific industries, particularly financial services; the issuers' abilities to meet their obligations may be affected by economic developments in such industries. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Securities are valued at amortized cost, which approximates market value.

2. Repurchase Agreements: The portfolio enters into repurchase agreements with institutional counterparties. Securities pledged as collateral to the portfolio under repurchase agreements are held by a custodian bank until the agreements mature, and in the absence of a default, such collateral cannot be repledged, resold, or rehypothecated. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal. The portfolio further mitigates its counterparty risk by entering into repurchase agreements only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master repurchase agreements with its counterparties. The master repurchase agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any repurchase agreements with that counterparty, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio. Such action may be subject to legal proceedings, which may delay or limit the disposition of collateral.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions from net investment income are declared daily and paid on the first business day of the following month. Annual distributions from realized capital gains, if any, are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and

------

Money Market Portfolio

borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

6. Other: Interest income is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative,
marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of
trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $44,000, representing less than 0.01% of the portfolio's net assets and 0.02% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

Vanguard and the board of trustees have agreed to temporarily limit certain net operating expenses in excess of the portfolio's daily yield in order to maintain a zero or positive yield for the portfolio. Vanguard and the board of trustees may terminate the temporary expense limitation at any time. For the year ended ended December 31, 2022, Vanguard's expenses were reduced by $106,000 (an effective annual rate of 0.01% of the portfolio's average net assets); the portfolio is not obligated to repay this amount to Vanguard.

**C.** The portfolio's custodian bank has agreed to reduce its fees when the portfolio maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset
arrangements reduced the portfolio's expenses by $6,000 (an annual rate of less than 0.01% of average net assets).

**D.** Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs
or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments was determined using amortized cost, in accordance with rules under the Investment Company Act of 1940. Amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, securities valued at amortized cost are considered to be valued using Level 2 inputs.

**E.** Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications
have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. As of

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Money Market Portfolio

period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;12 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;— |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;— |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;18174 | &nbsp;&nbsp;&nbsp;&nbsp;187 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total | &nbsp;&nbsp;&nbsp;18174 | &nbsp;&nbsp;&nbsp;&nbsp;187 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1221253 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

**F.** At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or
beneficial owner of 89% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause
the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**G.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Money Market Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Money Market Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

------

#### Tax information (unaudited)
The portfolio hereby designates $10,680,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio hereby designates 99.8%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of Section 163(j) and the regulations thereunder for the fiscal year.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

------

![](tm231735d7mnymrktporti002.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Annuity and Insurance Services > 800-522-5555

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690MM 022023

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![](tm231735d7relesteindxi001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Real Estate Index Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Real Estate Index Portfolio returned –26.30%, in line with
the –26.12% return of its benchmark.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.

• Rising rates were not good for bonds or real estate equity markets. All real estate sectors posted negative double-digit returns for the calendar year, with the worst declines posted by real estate operating
companies, mortgage REITs, and real estate services. However, these sectors had small weightings in the index. Specialized REITs—at more than 37%, the largest weighting in the index—returned –24%.

• For the decade ended December 31, the portfolio had an annualized total return of 6.36%, roughly in line with its benchmark.

• Please note that the portfolio returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account insurance-related
expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Real Estate Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$927.60 | &nbsp;&nbsp;&nbsp;&nbsp;$1.26 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.33 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.26%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Real Estate Index Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7relesteindxi002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7relesteindxi003.jpg) | &nbsp;&nbsp;&nbsp;Real Estate Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-26.30% | &nbsp;&nbsp;&nbsp;&nbsp;3.69% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.36% | &nbsp;&nbsp;&nbsp;&nbsp;$18522 |
| ![](tm231735d7relesteindxi004.jpg) | &nbsp;&nbsp;&nbsp;Real Estate Spliced Index | &nbsp;&nbsp;&nbsp;&nbsp;-26.12 | &nbsp;&nbsp;&nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18944 |
| ![](tm231735d7relesteindxi005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

Real Estate Spliced Index: the MSCI US REIT Index through January 18, 2018; and the MSCI US Investable Market Real Estate 25/50 Index thereafter.

See Financial Highlights for dividend and capital gains information.

------

Real Estate Index Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Diversified Real Estate Activities | &nbsp;&nbsp;0.1% |
| Diversified REITs | &nbsp;&nbsp;3.0 |
| Health Care REITs | &nbsp;&nbsp;&nbsp;7.7 |
| Hotel & Resort REITs | &nbsp;&nbsp;2.7 |
| Industrial REITs | 12.1 |
| Office REITs | &nbsp;&nbsp;5.5 |
| Real Estate Development | &nbsp;&nbsp;0.3 |
| Real Estate Operating Companies | &nbsp;&nbsp;0.4 |
| Real Estate Services | &nbsp;&nbsp;3.8 |
| Residential REITs | 13.7 |
| Retail REITs | 13.0 |
| Specialized REITs | 37.7 |

---

The table reflects the portfolio's investments, except for short-term investments and derivatives. Sector categories are based on the Global Industry Classification Standard ("GICS"), except for the "Other" category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

The portfolio may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking its target index as closely as possible.

The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard and Poor's, a division of McGraw-Hill Companies, Inc. ("S&P"), and is licensed for use by Vanguard. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of its affiliates or any third party involved in making or compiling the GICS or any GICS classification have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

------

Real Estate Index Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | |
|:---|:---|:---|
|  | Shares | Market<br> Value• ($000) |
| **Equity Real Estate Investment Trusts (REITs) (95.4%)** | **Equity Real Estate Investment Trusts (REITs) (95.4%)** | **Equity Real Estate Investment Trusts (REITs) (95.4%)** |
| **Diversified REITs (3.0%)** | **Diversified REITs (3.0%)** | **Diversified REITs (3.0%)** |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | &nbsp;&nbsp;169783 | &nbsp;&nbsp; 13269 |
| &nbsp;&nbsp;&nbsp;STORE Capital Corp. | &nbsp;&nbsp;224010 | &nbsp;&nbsp; 7182 |
| &nbsp;&nbsp;&nbsp;Essential Properties Realty Trust Inc. | &nbsp;&nbsp;124568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2924 |
| &nbsp;&nbsp;&nbsp;Broadstone Net Lease Inc. | &nbsp;&nbsp;152886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2478 |
| &nbsp;&nbsp;&nbsp;Alexander & Baldwin Inc. | 64652 | &nbsp;&nbsp; 1211 |
| &nbsp;&nbsp;&nbsp;American Assets Trust Inc. | 44988 | &nbsp;&nbsp; 1192 |
| &nbsp;&nbsp;&nbsp;Global Net Lease Inc. | 90754 | &nbsp;&nbsp; 1141 |
| &nbsp;&nbsp;&nbsp;Empire State Realty Trust Inc. Class A | &nbsp;&nbsp;120872 | &nbsp;&nbsp; 815 |
| &nbsp;&nbsp;&nbsp;Armada Hoffler Properties Inc. | 59264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 |
| &nbsp;&nbsp;&nbsp;Gladstone Commercial Corp. | &nbsp;&nbsp; 34614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 |
| &nbsp;&nbsp;&nbsp;iStar Inc. | &nbsp;&nbsp; 74677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 |
| &nbsp;&nbsp;&nbsp;One Liberty Properties Inc. | &nbsp;&nbsp; 14726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 |
| &nbsp;&nbsp;&nbsp;NexPoint Diversified Real Estate Trust | &nbsp;&nbsp; 27582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 |
|  |  | **32739** |
| **Health Care REITs (7.7%)** | **Health Care REITs (7.7%)** | **Health Care REITs (7.7%)** |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | &nbsp;&nbsp;407642 | &nbsp;&nbsp;&nbsp;&nbsp;26721 |
| &nbsp;&nbsp;&nbsp;Ventas Inc. | 351734 | &nbsp;&nbsp; 15846 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | &nbsp;&nbsp;474795 | &nbsp;&nbsp; 11903 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Trust Inc. Class A | 335490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6465 |
| &nbsp;&nbsp;&nbsp;Medical Properties Trust Inc. | 526331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5863 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 205568 | &nbsp;&nbsp; 5746 |
| &nbsp;&nbsp;&nbsp;Physicians Realty Trust | &nbsp;&nbsp;199172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2882 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care REIT Inc. | 203777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2533 |
| &nbsp;&nbsp;&nbsp;National Health Investors Inc. | 39526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2064 |
| &nbsp;&nbsp;&nbsp;CareTrust REIT Inc. | 84835 | &nbsp;&nbsp; 1576 |
| &nbsp;&nbsp;&nbsp;LTC Properties Inc. | &nbsp;&nbsp; 35413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1258 |
| &nbsp;&nbsp;&nbsp;Community Healthcare Trust Inc. | &nbsp;&nbsp; 20746 | &nbsp;&nbsp; 743 |
| &nbsp;&nbsp;&nbsp;Universal Health Realty Income Trust | &nbsp;&nbsp; 11396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544 |
| &nbsp;&nbsp;&nbsp;Global Medical REIT Inc. | &nbsp;&nbsp; 54165 | &nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp;Diversified Healthcare Trust | &nbsp;&nbsp;211854 | &nbsp;&nbsp; 137 |
|  |  | **84794** |
| **Hotel & Resort REITs (2.7%)** | **Hotel & Resort REITs (2.7%)** | **Hotel & Resort REITs (2.7%)** |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts Inc. | 629300 | &nbsp;&nbsp; 10100 |
| &nbsp;&nbsp;&nbsp;Ryman Hospitality Properties Inc. | &nbsp;&nbsp; 46148 | &nbsp;&nbsp; 3774 |
| &nbsp;&nbsp;&nbsp;Apple Hospitality REIT Inc. | &nbsp;&nbsp;191630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3024 |
| &nbsp;&nbsp;&nbsp;Park Hotels & Resorts Inc. | &nbsp;&nbsp;198974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346 |
| &nbsp;&nbsp;&nbsp;Sunstone Hotel Investors Inc. | &nbsp;&nbsp;185623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1793 |
| &nbsp;&nbsp;&nbsp;Pebblebrook Hotel Trust | &nbsp;&nbsp;114931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539 |
| &nbsp;&nbsp;&nbsp;DiamondRock Hospitality Co. | &nbsp;&nbsp;184275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509 |
| &nbsp;&nbsp;&nbsp;RLJ Lodging Trust | &nbsp;&nbsp;142292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507 |
| &nbsp;&nbsp;&nbsp;Xenia Hotels & Resorts Inc. | 99935 | &nbsp;&nbsp; 1317 |
| &nbsp;&nbsp;&nbsp;Service Properties Trust | &nbsp;&nbsp;143874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049 |
| &nbsp;&nbsp;&nbsp;Summit Hotel Properties Inc. | 92884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671 |
| &nbsp;&nbsp;&nbsp;Chatham Lodging Trust | &nbsp;&nbsp; 40128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 |
|  |  | **29121** |
| **Industrial REITs (12.1%)** | **Industrial REITs (12.1%)** | **Industrial REITs (12.1%)** |
| &nbsp;&nbsp;&nbsp;Prologis Inc. | &nbsp;&nbsp;812033 | &nbsp;&nbsp;&nbsp;&nbsp;91540 |
| &nbsp;&nbsp;&nbsp;Rexford Industrial Realty Inc. | &nbsp;&nbsp;150456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8221 |
| &nbsp;&nbsp;&nbsp;Americold Realty Trust Inc. | 236605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6698 |
| &nbsp;&nbsp;&nbsp;EastGroup Properties Inc. | 38325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5675 |
| &nbsp;&nbsp;&nbsp;First Industrial Realty Trust Inc. | &nbsp;&nbsp;115971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5597 |
| &nbsp;&nbsp;&nbsp;STAG Industrial Inc. | &nbsp;&nbsp;157509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5089 |
| &nbsp;&nbsp;&nbsp;Terreno Realty Corp. | 66488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3781 |
| &nbsp;&nbsp;&nbsp;Innovative Industrial Properties Inc. | 24709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504 |
| &nbsp;&nbsp;&nbsp;LXP Industrial Trust | &nbsp;&nbsp;247183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2477 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Plymouth Industrial REIT Inc. | 35075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 |
|  | &nbsp;&nbsp;&nbsp;Industrial Logistics Properties Trust | 56942 | &nbsp;&nbsp; 186 |
|  |  |  | **132441** |
| **Office REITs (5.5%)** | **Office REITs (5.5%)** | **Office REITs (5.5%)** | **Office REITs (5.5%)** |
|  | &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | &nbsp;&nbsp;136455 | &nbsp;&nbsp; 19877 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties Inc. | &nbsp;&nbsp;131141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8863 |
|  | &nbsp;&nbsp;&nbsp;Kilroy Realty Corp. | 92583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3580 |
|  | &nbsp;&nbsp;&nbsp;Cousins Properties Inc. | &nbsp;&nbsp;133380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3373 |
|  | &nbsp;&nbsp;&nbsp;Vornado Realty Trust | &nbsp;&nbsp;143652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2989 |
|  | &nbsp;&nbsp;&nbsp;Highwoods Properties Inc. | &nbsp;&nbsp; 93105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605 |
|  | &nbsp;&nbsp;&nbsp;Corporate Office Properties Trust | 99264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2575 |
|  | &nbsp;&nbsp;&nbsp;Equity Commonwealth | &nbsp;&nbsp; 98215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2452 |
|  | &nbsp;&nbsp;&nbsp;Douglas Emmett Inc. | &nbsp;&nbsp;155261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2435 |
|  | &nbsp;&nbsp;&nbsp;SL Green Realty Corp. | &nbsp;&nbsp; 57173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1928 |
|  | &nbsp;&nbsp;&nbsp;JBG SMITH Properties | 90043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709 |
|  | &nbsp;&nbsp;&nbsp;Hudson Pacific Properties Inc. | &nbsp;&nbsp;123952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Veris Residential Inc. | &nbsp;&nbsp; 67793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 |
|  | &nbsp;&nbsp;&nbsp;Easterly Government Properties Inc. Class A | 75350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Office Realty Trust Inc. Class A | &nbsp;&nbsp;107968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 |
|  | &nbsp;&nbsp;&nbsp;Paramount Group Inc. | &nbsp;&nbsp;157703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937 |
|  | &nbsp;&nbsp;&nbsp;Brandywine Realty Trust | &nbsp;&nbsp;149611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 |
|  | &nbsp;&nbsp;&nbsp;Office Properties Income Trust | &nbsp;&nbsp; 42152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 |
|  | &nbsp;&nbsp;&nbsp;Orion Office REIT Inc. | 49967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 |
|  | &nbsp;&nbsp;&nbsp;City Office REIT Inc. | 36425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 |
|  | &nbsp;&nbsp;&nbsp;Franklin Street Properties Corp. | 81358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 |
|  |  |  | &nbsp;&nbsp; **60111** |
| **Residential REITs (13.7%)** | **Residential REITs (13.7%)** | **Residential REITs (13.7%)** | **Residential REITs (13.7%)** |
|  | &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | &nbsp;&nbsp;123027 | &nbsp;&nbsp; 19871 |
|  | &nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;314343 | &nbsp;&nbsp; 18546 |
|  | &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities Inc. | &nbsp;&nbsp;101552 | &nbsp;&nbsp; 15943 |
|  | &nbsp;&nbsp;&nbsp;Invitation Homes Inc. | &nbsp;&nbsp;537078 | &nbsp;&nbsp; 15919 |
|  | &nbsp;&nbsp;&nbsp;Sun Communities Inc. | &nbsp;&nbsp;108522 | &nbsp;&nbsp; 15519 |
|  | &nbsp;&nbsp;&nbsp;Essex Property Trust Inc. | &nbsp;&nbsp; 57303 | &nbsp;&nbsp; 12144 |
|  | &nbsp;&nbsp;&nbsp;UDR Inc. | 285935 | &nbsp;&nbsp; 11074 |
|  | &nbsp;&nbsp;&nbsp;Equity LifeStyle Properties Inc. | &nbsp;&nbsp;155488 | &nbsp;&nbsp; 10045 |
|  | &nbsp;&nbsp;&nbsp;Camden Property Trust | 89036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9961 |
|  | &nbsp;&nbsp;&nbsp;American Homes 4 Rent Class A | &nbsp;&nbsp;275713 | &nbsp;&nbsp; 8310 |
|  | &nbsp;&nbsp;&nbsp;Apartment Income REIT Corp. Class A | &nbsp;&nbsp;135483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4648 |
|  | &nbsp;&nbsp;&nbsp;Independence Realty Trust Inc. | &nbsp;&nbsp;195882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3303 |
|  | &nbsp;&nbsp;&nbsp;Elme Communities | &nbsp;&nbsp; 76413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360 |
|  | &nbsp;&nbsp;&nbsp;Apartment Investment & Management Co. Class A | &nbsp;&nbsp;133034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947 |
|  | &nbsp;&nbsp;&nbsp;NexPoint Residential Trust Inc. | 20299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883 |
|  | &nbsp;&nbsp;&nbsp;Centerspace | &nbsp;&nbsp; 13454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789 |
|  | &nbsp;&nbsp;&nbsp;UMH Properties Inc. | &nbsp;&nbsp; 45743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737 |
|  |  |  | &nbsp;&nbsp; **149999** |
| **Retail REITs (13.0%)** | **Retail REITs (13.0%)** | **Retail REITs (13.0%)** | **Retail REITs (13.0%)** |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 543027 | &nbsp;&nbsp;&nbsp;&nbsp;34444 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group Inc. | 288053 | &nbsp;&nbsp;&nbsp;&nbsp;33841 |
|  | &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 544809 | &nbsp;&nbsp; 11539 |
|  | &nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;135336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8459 |
|  | &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | &nbsp;&nbsp;156038 | &nbsp;&nbsp; 7140 |
|  | &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 63994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6466 |
|  | &nbsp;&nbsp;&nbsp;Brixmor Property Group Inc. | &nbsp;&nbsp;263614 | &nbsp;&nbsp; 5976 |
|  | &nbsp;&nbsp;&nbsp;Agree Realty Corp. | &nbsp;&nbsp; 70129 | &nbsp;&nbsp; 4974 |
|  | &nbsp;&nbsp;&nbsp;Spirit Realty Capital Inc. | &nbsp;&nbsp;119805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4784 |
|  | &nbsp;&nbsp;&nbsp;Kite Realty Group Trust | &nbsp;&nbsp;192741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4057 |
|  | &nbsp;&nbsp;&nbsp;Phillips Edison & Co. Inc. | &nbsp;&nbsp;102796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3273 |
|  | &nbsp;&nbsp;&nbsp;SITE Centers Corp. | &nbsp;&nbsp;170458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2328 |
|  | &nbsp;&nbsp;&nbsp;Macerich Co. | &nbsp;&nbsp;189555 | &nbsp;&nbsp; 2134 |

---

------

Real Estate Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Retail Opportunity Investments Corp. | &nbsp;&nbsp;108997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638 |
|  | &nbsp;&nbsp;&nbsp;Tanger Factory Outlet Centers Inc. | 91250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637 |
|  | &nbsp;&nbsp;&nbsp;Urban Edge Properties | &nbsp;&nbsp;102701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447 |
|  | &nbsp;&nbsp;&nbsp;InvenTrust Properties Corp. | 59063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398 |
|  | &nbsp;&nbsp;&nbsp;Getty Realty Corp. | 35356 | &nbsp;&nbsp; 1197 |
|  | &nbsp;&nbsp;&nbsp;Acadia Realty Trust | &nbsp;&nbsp; 82817 | &nbsp;&nbsp; 1188 |
|  | &nbsp;&nbsp;&nbsp;NETSTREIT Corp. | &nbsp;&nbsp; 44016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807 |
|  | &nbsp;&nbsp;&nbsp;RPT Realty | &nbsp;&nbsp; 74393 | &nbsp;&nbsp; 747 |
|  | &nbsp;&nbsp;&nbsp;Necessity Retail REIT Inc. Class A | &nbsp;&nbsp;116637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692 |
|  | &nbsp;&nbsp;&nbsp;Saul Centers Inc. | &nbsp;&nbsp; 12456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507 |
|  | &nbsp;&nbsp;&nbsp;Urstadt Biddle Properties Inc. Class A | &nbsp;&nbsp; 26104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 |
|  | &nbsp;&nbsp;&nbsp;Alexander's Inc. | &nbsp;&nbsp; 2001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 |
|  | &nbsp;&nbsp;&nbsp;CBL & Associates Properties Inc. | &nbsp;&nbsp; 11286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Spirit MTA REIT | 42040 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; **141869** |
| **Specialized REITs (37.7%)** | **Specialized REITs (37.7%)** | **Specialized REITs (37.7%)** | **Specialized REITs (37.7%)** |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 409584 | &nbsp;&nbsp; 86774 |
|  | &nbsp;&nbsp;&nbsp;Equinix Inc. | &nbsp;&nbsp; 80126 | &nbsp;&nbsp;&nbsp;&nbsp;52485 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle Inc. | 380960 | &nbsp;&nbsp;&nbsp;&nbsp;51673 |
|  | &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;138959 | &nbsp;&nbsp;&nbsp;&nbsp;38935 |
|  | &nbsp;&nbsp;&nbsp;VICI Properties Inc. | 846958 | &nbsp;&nbsp; 27441 |
|  | &nbsp;&nbsp;&nbsp;SBA Communications Corp. Class A | 94908 | &nbsp;&nbsp;&nbsp;&nbsp;26604 |
|  | &nbsp;&nbsp;&nbsp;Digital Realty Trust Inc. | 252932 | &nbsp;&nbsp;&nbsp;&nbsp;25362 |
|  | &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | 651437 | &nbsp;&nbsp; 20195 |
|  | &nbsp;&nbsp;&nbsp;Extra Space Storage Inc. | &nbsp;&nbsp;&nbsp;117834 | &nbsp;&nbsp; 17343 |
|  | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | 255943 | &nbsp;&nbsp; 12759 |
|  | &nbsp;&nbsp;&nbsp;Gaming & Leisure Properties Inc. | &nbsp;&nbsp;225610 | &nbsp;&nbsp; 11752 |
|  | &nbsp;&nbsp;&nbsp;CubeSmart | &nbsp;&nbsp;197293 | &nbsp;&nbsp; 7941 |
|  | &nbsp;&nbsp;&nbsp;Life Storage Inc. | &nbsp;&nbsp; 74137 | &nbsp;&nbsp; 7303 |
|  | &nbsp;&nbsp;&nbsp;Lamar Advertising Co. Class A | &nbsp;&nbsp; 76571 | &nbsp;&nbsp; 7228 |
|  | &nbsp;&nbsp;&nbsp;Rayonier Inc. | &nbsp;&nbsp;128732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4243 |
|  | &nbsp;&nbsp;&nbsp;PotlatchDeltic Corp. | 71008 | &nbsp;&nbsp; 3124 |
|  | &nbsp;&nbsp;&nbsp;National Storage Affiliates Trust | &nbsp;&nbsp; 76831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2775 |
|  | &nbsp;&nbsp;&nbsp;EPR Properties | &nbsp;&nbsp; 66154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495 |
|  | &nbsp;&nbsp;&nbsp;Outfront Media Inc. | &nbsp;&nbsp;123669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050 |
|  | &nbsp;&nbsp;&nbsp;Four Corners Property Trust Inc. | &nbsp;&nbsp; 72188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1872 |
|  | &nbsp;&nbsp;&nbsp;Uniti Group Inc. | &nbsp;&nbsp;207291 | &nbsp;&nbsp; 1146 |
|  | &nbsp;&nbsp;&nbsp;Safehold Inc. | &nbsp;&nbsp; 21776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623 |
|  | &nbsp;&nbsp;&nbsp;Gladstone Land Corp. | &nbsp;&nbsp; 28701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 |
|  |  |  | **412650** |
| **Total Equity Real Estate Investment Trusts (REITs) (Cost $1,157,466)** | **Total Equity Real Estate Investment Trusts (REITs) (Cost $1,157,466)** | **Total Equity Real Estate Investment Trusts (REITs) (Cost $1,157,466)** | **1043724** |
| **Real Estate Management & Development (4.6%)** | **Real Estate Management & Development (4.6%)** | **Real Estate Management & Development (4.6%)** | **Real Estate Management & Development (4.6%)** |
| **Diversified Real Estate Activities (0.1%)** | **Diversified Real Estate Activities (0.1%)** | **Diversified Real Estate Activities (0.1%)** | **Diversified Real Estate Activities (0.1%)** |
|  | &nbsp;&nbsp;&nbsp;St. Joe Co. | &nbsp;&nbsp; 28414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098 |
|  | &nbsp;&nbsp;&nbsp;RMR Group Inc. Class A | &nbsp;&nbsp; 13332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 |
|  |  |  | **1475** |
| **Real Estate Development (0.3%)** | **Real Estate Development (0.3%)** | **Real Estate Development (0.3%)** | **Real Estate Development (0.3%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Howard Hughes Corp. | &nbsp;&nbsp; 33125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2531 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Forestar Group Inc. | &nbsp;&nbsp; 17688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 273 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **2804** |
| **Real Estate Operating Companies (0.4%)** | **Real Estate Operating Companies (0.4%)** | **Real Estate Operating Companies (0.4%)** | **Real Estate Operating Companies (0.4%)** |
|  | &nbsp;&nbsp;&nbsp;Kennedy-Wilson Holdings Inc. | &nbsp;&nbsp;110056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1731 |
|  | &nbsp;&nbsp;&nbsp;DigitalBridge Group Inc. | &nbsp;&nbsp;143271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1567 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Seritage Growth Properties Class A | 31840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 377 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;FRP Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294 |
| <sup>\*,2</sup> | &nbsp;&nbsp;&nbsp;WeWork Inc. | &nbsp;&nbsp;156588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **4193** |
| **Real Estate Services (3.8%)** | **Real Estate Services (3.8%)** | **Real Estate Services (3.8%)** | **Real Estate Services (3.8%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CBRE Group Inc. Class A | &nbsp;&nbsp;282816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21766 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Jones Lang LaSalle Inc. | &nbsp;&nbsp; 42219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6728 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zillow Group Inc. Class C | &nbsp;&nbsp;139571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4496 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zillow Group Inc. Class A | &nbsp;&nbsp; 51769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1616 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cushman & Wakefield plc | &nbsp;&nbsp;128227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1598 |
|  | &nbsp;&nbsp;&nbsp;Newmark Group Inc. Class A | &nbsp;&nbsp;137954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1099 |
|  | &nbsp;&nbsp;&nbsp;Marcus & Millichap Inc. | 22699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 782 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;eXp World Holdings Inc. | 60057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 665 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Anywhere Real Estate Inc. | &nbsp;&nbsp;100008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 639 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Compass Inc. Class A | &nbsp;&nbsp;206156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 |
| <sup>\*,2</sup> | &nbsp;&nbsp;&nbsp;Opendoor Technologies Inc. | 354995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Redfin Corp. | 85350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362 |
|  | &nbsp;&nbsp;&nbsp;RE/MAX Holdings Inc. Class A | &nbsp;&nbsp; 16415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;Douglas Elliman Inc. | 62893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Doma Holdings Inc. | &nbsp;&nbsp;108942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Offerpad Solutions Inc. | 49631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **41277** |
| **Total Real Estate Management & Development (Cost $82,014)** | **Total Real Estate Management & Development (Cost $82,014)** | **Total Real Estate Management & Development (Cost $82,014)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**49749** |
| **Temporary Cash Investments (0.1%)** | **Temporary Cash Investments (0.1%)** | **Temporary Cash Investments (0.1%)** | **Temporary Cash Investments (0.1%)** |
| **Money Market Fund (0.1%)** | **Money Market Fund (0.1%)** | **Money Market Fund (0.1%)** | **Money Market Fund (0.1%)** |
| <sup>3,4</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334%<br> **(Cost $1,595)** | &nbsp;&nbsp; 15956 | **1595** |
| **Total Investments (100.1%)<br> (Cost $1,241,075)** | **Total Investments (100.1%)<br> (Cost $1,241,075)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1095068** |
| **Other Assets and Liabilities—Net (-0.1%)** | **Other Assets and Liabilities—Net (-0.1%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1184)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1093884** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Security value determined using significant unobservable inputs. |
| 2 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,183,000. |
| 3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 4 | Collateral of $1,580,000 was received for securities on loan. |

---

REIT—Real Estate Investment Trust.

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| Dow Jones U.S. Real Estate Index | March 2023 | 20 | 660 | &nbsp;&nbsp;(17) |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Real Estate Index Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $1,239,480) | 1093473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $1,595) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595 |
| Total Investments in Securities | 1095068 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4694 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543 |
| **Total Assets** | &nbsp;&nbsp;**1100419** |
| **Liabilities** |  |
| Due to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005 |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1613 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6535** |
| **Net Assets** | **1093884** |
| 1 Includes $1,183,000 of securities on loan. |  |
| <br> **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;1162052 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;(68168) |
| **Net Assets** | **1093884** |
| **Net Assets** |  |
| **Applicable to 94,840,478 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **1093884** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$11.53** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Real Estate Index Portfolio

Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends | &nbsp;&nbsp;&nbsp;31355 |
| Interest<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Total Income | &nbsp;&nbsp;&nbsp;31381 |
| **Expenses** |  |
| The Vanguard Group—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;2977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;3260 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;3259 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;**28122** |
| **Realized Net Gain (Loss)** |  |
| Capital Gain Distributions Received | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7041 |
| Investment Securities Sold<sup>1</sup> | &nbsp;&nbsp;&nbsp;43244 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(300) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;**49985** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>1</sup> | (476087) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98) |
| **Change in Unrealized Appreciation (Depreciation)** | **(476185)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(398078)** |

---

---

| | |
|:---|:---|
| 1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $5,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Real Estate Index Portfolio

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23366 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55051 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(476185) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357888 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(398078) | &nbsp;&nbsp;&nbsp;&nbsp;436305 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77984) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58868) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;147195 | &nbsp;&nbsp;&nbsp;&nbsp;219715 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58868 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(193133) | &nbsp;&nbsp;&nbsp;&nbsp;(195227) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83356 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;(444016) | &nbsp;&nbsp;&nbsp;&nbsp;460793 |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**1537900** | &nbsp;&nbsp;&nbsp;**1077107** |
| **End of Period** | **1093884** | &nbsp;&nbsp;&nbsp;**1537900** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Real Estate Index Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$16.56** | &nbsp;&nbsp;&nbsp;**$12.43** | &nbsp;&nbsp;&nbsp;**$13.74** | &nbsp;&nbsp;&nbsp;**$11.57** | &nbsp;&nbsp;&nbsp;**$13.14** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.367 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.474) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.054) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.084) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.177) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.795) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.717) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.262) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.316) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.368) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.383) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.591) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.387) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.665) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.470) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.853) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.515) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.033) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.853) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$11.53** | &nbsp;&nbsp;&nbsp;**$16.56** | &nbsp;&nbsp;&nbsp;**$12.43** | &nbsp;&nbsp;&nbsp;**$13.74** | &nbsp;&nbsp;&nbsp;**$11.57** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-26.30%** | &nbsp;&nbsp;&nbsp;**40.21%** | &nbsp;&nbsp;&nbsp;**-4.85%** | &nbsp;&nbsp;&nbsp;**28.81%** | &nbsp;&nbsp;&nbsp;**-5.35%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$1094 | &nbsp;&nbsp;&nbsp;$1538 | &nbsp;&nbsp;&nbsp;$1077 | &nbsp;&nbsp;&nbsp;$1242 | &nbsp;&nbsp;&nbsp;$965 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;0.26%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.26% | &nbsp;&nbsp;&nbsp;0.26% | &nbsp;&nbsp;&nbsp;0.26% | &nbsp;&nbsp;&nbsp;0.26% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;2.25% | &nbsp;&nbsp;&nbsp;1.79% | &nbsp;&nbsp;&nbsp;2.19% | &nbsp;&nbsp;&nbsp;2.52% | &nbsp;&nbsp;&nbsp;3.04% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;11% | &nbsp;&nbsp;&nbsp;12% | &nbsp;&nbsp;&nbsp;10% | &nbsp;&nbsp;&nbsp;7% | &nbsp;&nbsp;&nbsp;35% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.26%. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

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Real Estate Index Portfolio

Notes to Financial Statements

The Real Estate Index Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The portfolio uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The portfolio may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of

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Real Estate Index Portfolio

prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

6. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Distributions received from investment securities are recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Each investment security reports annually the tax character of its distributions. Dividend income, capital gain distributions received, and unrealized appreciation (depreciation) reflect the amounts of taxable income, capital gain, and return of capital reported by the REIT's, and management's estimates of such amounts for REIT distributions for which actual information has not been reported. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $42,000, representing less than 0.01% of the portfolio's net assets and 0.02% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

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Real Estate Index Portfolio

C. The portfolio's custodian bank has agreed to reduce its fees when the portfolio maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset arrangements reduced the portfolio's expenses by $1,000 (an annual rate of less than 0.01% of average net assets).

D. Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

The following table summarizes the market value of the portfolio's investments and derivatives as of December 31, 2022, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks | 1093473 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1093473 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595 |
| Total | 1095068 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1095068 |
| **Derivative Financial Instruments** |  |  |  |  |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

E. Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; the deferral of income from real estate investment trusts; and the recognition of unrealized gains or losses from certain derivative contracts. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;25927 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;49781 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(147456) |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;28357 | &nbsp;&nbsp;&nbsp;&nbsp;25327 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;49627 | &nbsp;&nbsp;&nbsp;&nbsp;33541 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;77984 | &nbsp;&nbsp;&nbsp;&nbsp;58868 |

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\* Includes short-term capital gains, if any.

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Real Estate Index Portfolio

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1242524 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134565 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(282021) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147456) |

---

F. During the year ended December 31, 2022, the portfolio purchased $138,256,000 of investment securities and sold $142,236,000 of investment securities, other than temporary cash investments.

The portfolio purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $354,000 and sales were $117,000, resulting in net realized loss of $24,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

G. Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022 | &nbsp;&nbsp;2021 |
|  | Shares<br> (000) | &nbsp;&nbsp;Shares<br> (000) |
| Issued | &nbsp;&nbsp;11004 | &nbsp;&nbsp;&nbsp;&nbsp;15445 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;5356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4535 |
| Redeemed | (14362) | &nbsp;&nbsp;(13787) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;&nbsp;&nbsp;1998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6193 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 38% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

H. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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#### Report of Independent Registered

#### Public Accounting Firm
To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Real Estate Index ‎Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of ‎investments, of Real Estate Index Portfolio (one of the portfolios constituting Vanguard Variable ‎Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement ‎of operations for the year ended December 31, 2022, the statement of changes in net assets for each of ‎the two years in the period ended December 31, 2022, including the related notes, and the financial ‎highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as ‎the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, ‎the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year ‎then ended, the changes in its net assets for each of the two years in the period ended December 31, ‎‎2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in ‎conformity with accounting principles generally accepted in the United States of America. ‎

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to ‎express an opinion on the Portfolio's financial statements based on our audits. We are a public ‎accounting firm registered with the Public Company Accounting Oversight Board (United States) ‎‎(PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. ‎federal securities laws and the applicable rules and regulations of the Securities and Exchange ‎Commission and the PCAOB. ‎

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. ‎Those standards require that we plan and perform the audit to obtain reasonable assurance about whether ‎the financial statements are free of material misstatement, whether due to error or fraud. ‎

Our audits included performing procedures to assess the risks of material misstatement of the financial ‎statements, whether due to error or fraud, and performing procedures that respond to those risks. Such ‎procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the ‎financial statements. Our audits also included evaluating the accounting principles used and significant ‎estimates made by management, as well as evaluating the overall presentation of the financial ‎statements. Our procedures included confirmation of securities owned as of December 31, 2022 by ‎correspondence with the custodian, transfer agent and brokers; when replies were not received from ‎brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis ‎for our opinion.‎

‎ /s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 16, 2023‎

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds ‎since 1975.‎

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Tax information (unaudited)

The portfolio hereby designates $1,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $49,627,000 as capital gain dividends (from net long-term capital gains) to shareholders during the fiscal year. The portfolio designates $47,652,000 of its capital gain dividends as 20% rate gain distributions and $1,975,000 as unrecaptured section 1250 gain distributions (25% rate gain).

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THESE FUNDS ARE NOT SPONSORED, ENDORSED, SOLD OR PROMOTED BY MSCI INC. ("MSCI"), ANY OF ITS AFFILIATES, ANY OF ITS DIRECT OR INDIRECT INFORMATION PROVIDERS OR ANY OTHER THIRD PARTY INVOLVED IN, OR RELATED TO, COMPILING, COMPUTING OR CREATING ANY MSCI INDEX (COLLECTIVELY, THE "MSCI PARTIES"). THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES ARE SERVICE MARK(S) OF MSCI OR ITS AFFILIATES AND HAVE BEEN LICENSED FOR USE FOR CERTAIN PURPOSES BY VANGUARD. NONE OF THE MSCI PARTIES MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, TO THE OWNERS OF THESE FUNDS OR ANY MEMBER OF THE PUBLIC REGARDING THE ADVISABILITY OF INVESTING IN FUNDS GENERALLY OR IN THESE FUNDS PARTICULARLY OR THE ABILITY OF ANY MSCI INDEX TO TRACK CORRESPONDING STOCK MARKET PERFORMANCE. MSCI OR ITS AFFILIATES ARE THE LICENSORS OF CERTAIN TRADEMARKS, SERVICE MARKS AND TRADE NAMES AND OF THE MSCI INDEXES WHICH ARE DETERMINED, COMPOSED AND CALCULATED BY MSCI WITHOUT REGARD TO THESE FUNDS OR THE ISSUER OR OWNER OF THESE FUNDS. NONE OF THE MSCI PARTIES HAS ANY OBLIGATION TO TAKE THE NEEDS OF THE ISSUERS OR OWNERS OF THESE FUNDS INTO CONSIDERATION IN DETERMINING, COMPOSING OR CALCULATING THE MSCI INDEXES. NONE OF THE MSCI PARTIES IS RESPONSIBLE FOR OR HAS PARTICIPATED IN THE DETERMINATION OF THE TIMING OF, PRICES AT, OR QUANTITIES OF THESE FUNDS TO BE ISSUED OR IN THE DETERMINATION OR CALCULATION OF THE CONSIDERATION INTO WHICH THESE FUNDS ARE REDEEMABLE. NONE OF THE MSCI PARTIES HAS ANY OBLIGATION OR LIABILITY TO THE OWNERS OF THESE FUNDS IN CONNECTION WITH THE ADMINISTRATION, MARKETING OR OFFERING OF THESE FUNDS.

ALTHOUGH MSCI SHALL OBTAIN INFORMATION FOR INCLUSION IN OR FOR USE IN THE CALCULATION OF THE MSCI INDEXES FROM SOURCES WHICH MSCI CONSIDERS RELIABLE, NONE OF THE MSCI PARTIES WARRANTS OR GUARANTEES THE ORIGINALITY, ACCURACY AND/OR THE COMPLETENESS OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. NONE OF THE MSCI PARTIES MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, LICENSEE'S CUSTOMERS OR COUNTERPARTIES, ISSUERS OF THE FUNDS, OWNERS OF THE FUNDS, OR ANY OTHER PERSON OR ENTITY, FROM THE USE OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN IN CONNECTION WITH THE RIGHTS LICENSED HEREUNDER OR FOR ANY OTHER USE. NONE OF THE MSCI PARTIES SHALL HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS OF OR IN CONNECTION WITH ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. FURTHER, NONE OF THE MSCI PARTIES MAKES ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND, AND THE MSCI PARTIES HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO ANY MSCI INDEX AND ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL ANY OF THE MSCI PARTIES HAVE ANY LIABILITY FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES (INCLUDING WITHOUT LIMITATION LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of

IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

------

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services

(2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. McIsaac** | **Lauren Valente** |

---

------

![](tm231735d7relesteindxi006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People<br> Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your portfolio on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690REIT 022023

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![](tm231735d7shttrminvtgrdi001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Short-Term Investment-Grade Portfolio

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*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| Advisor's Report<br>| 2 |
| About Your Portfolio's Expenses<br>| 3 |
| Performance Summary<br>| 4 |
| Financial Statements<br>| 6 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Short-Term Investment-Grade Portfolio returned –5.72%,
lagging the –5.56% return of its benchmark index, the Bloomberg U.S. 1–5 Year Credit Bond Index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive interest rate tightening by many central banks to bring inflation back in check, which caused bond prices to drop sharply and increased fears of recession.

• Over the course of the year, the advisor trimmed exposure to high-yield, emerging markets, and BBB-rated securities. With widened spreads over the period, however, the fund's overweight to overall credit risk
was largely responsible for its modest underperformance.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

Advisor's Report

For the 12 months ended December 31, 2022, the Short-Term Investment-Grade Portfolio returned –5.72%. The portfolio lagged its benchmark, the Bloomberg U.S. 1–5 Year Credit Bond Index, which returned –5.56%.

With interest rates rising sharply, the portfolio's 30-day SEC yield stood at 4.78% as of December 31, up from 1.33% a year earlier. The 30-day SEC yield is a proxy for a portfolio's potential annualized rate of income.

#### Inflation and interest rates take center stage
The period was defined by a historic rise in interest rates, which caused ripple effects across every sector of the financial markets and brought with it renewed volatility.

Concerns that had been weighing on market sentiment in late 2021 carried into 2022. Supply-chain bottlenecks persisted, labor remained in short supply in some sectors of the economy as unemployment rates continued to fall, and year-on-year inflation readings—which had been accelerating—climbed to multidecade highs across much of the world.

In late February, Russia's invasion of Ukraine injected more uncertainty into the markets. Oil headed north of $100 per barrel and staple food prices soared. While energy prices eventually began to cool amid slowing economic growth and the U.S. government's release of some of its strategic oil reserves to boost supply, price increases broadened to other categories of goods and services, heightening concerns that inflation might remain stubbornly high.

#### Central banks showed resolve in tackling rising prices
Major central banks reacted by winding down their bond-purchasing programs and beginning to raise short-term interest rates. The Federal Reserve was especially aggressive, raising the federal funds rate target from near zero in March to a range of 4.25%–4.50% by the end of 2022.

Late in the year, inflation readings did show signs of easing, and in response, the Fed began slowing the pace of its rate hikes.

#### Yields of U.S. Treasuries rose and corporate spreads widened
Monetary policy tightening contributed to a steep rise in Treasury yields across the maturity spectrum, especially at the front end of the curve, and a sharp drop in prices. The 2-year U.S. Treasury yield jumped 3.69 percentage points to end the period at 4.43%, while the 10-year U.S. Treasury yield climbed 2.36 percentage points to 3.87%.

With the chances of a recession in 2023 rising, the average spread in yields between investment-grade corporate bonds and Treasuries widened, from 92 basis points at the beginning of 2022 to 130 basis points at the end, according to the Bloomberg U.S. Aggregate Float Adjusted Index.

#### The portfolio finished a step behind its benchmark index
Because pf our expectation that monetary policy tightening by the Fed would lead to an economic slowdown and wider credit spreads, we reduced credit risk in the portfolio over the course of the year. That included lightening our allocation to corporate securities rated BBB, the lowest rung on the investment-grade credit quality ladder, and trimming our holdings in high-yield and emerging-market debt. We also increased our allocation to U.S. Treasuries and very high-quality consumer asset-backed securities.

The portfolio nevertheless carried more credit risk than its benchmark, which was the primary driver of its relative underperformance as spreads widened. On the other hand, security selection within U.S. investment-grade corporates and emerging markets, as well as a small out-of-benchmark allocation to high-yield corporates, were positives for performance.

#### Better prospects for bonds in 2023
The recent significant negative annual returns have understandably been distressing for bond investors.

With the repricing that has occurred, however, the outlook is substantially better than it was a year ago. That is likely to attract flows back into this asset class, especially as fundamentals are very strong from a credit standpoint.

Although the bond market may continue to see volatility as the Fed likely makes more rate hikes, today's higher yields mean bonds can offer more of a cushion against further price declines.

Energy supply-and-demand concerns, diminishing capital flows, declining trade volumes, and falling output per person will likely lead to a global recession in the coming year. While we had upgraded the portfolio's credit quality based on that outlook, we are open to opportunistically increasing our credit exposure given the widening in spreads that has taken place. At the same time, we also favor some sectors that tend to be more defensive in downturns.

Whatever the markets may bring, our experienced team of portfolio managers, traders, and credit analysts will continue to seek attractive investment opportunities that will add to the portfolio's performance.

Portfolio Managers:

Daniel Shaykevich, Principal

Arvind Narayanan, CFA, Principal

Samuel C. Martinez, CFA

Vanguard Fixed Income Group

January 17, 2023

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Short-Term Investment-Grade Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$997.00 | &nbsp;&nbsp;&nbsp;&nbsp;$0.70 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.14%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

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Short-Term Investment-Grade Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7shttrminvtgrdi002.gif)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7shttrminvtgrdi003.jpg) | &nbsp;&nbsp;&nbsp;Short-Term Investment-Grade Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-5.72% | &nbsp;&nbsp;&nbsp;&nbsp;1.10% | &nbsp;&nbsp;&nbsp;&nbsp;1.44% | &nbsp;&nbsp;&nbsp;&nbsp;$11532 |
| ![](tm231735d7shttrminvtgrdi004.jpg) | &nbsp;&nbsp;&nbsp;Bloomberg U.S. 1-5 Year Credit Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-5.56 | &nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;1.54 | &nbsp;&nbsp;&nbsp;&nbsp;11656 |
| ![](tm231735d7shttrminvtgrdi005.jpg) | &nbsp;&nbsp;&nbsp;Bloomberg U.S. Aggregate Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11108 |

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See Financial Highlights for dividend and capital gains information.

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Short-Term Investment-Grade Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Asset-Backed/Commercial Mortgage-Backed Securities | &nbsp;&nbsp;5.4% |
| Corporate Bonds | 76.4 |
| Floating Rate Loan Interests | &nbsp;&nbsp;0.1 |
| Sovereign Bonds | &nbsp;&nbsp;&nbsp;1.4 |
| Taxable Municipal Bonds | &nbsp;&nbsp;0.0 |
| U.S. Government and Agency Obligations | 16.7 |

---

The table reflects the portfolio's investments, except for short-term investments and derivatives. The agency and mortgage-backed securities may include issues from government-sponsored enterprises; such issues are generally not backed by the full faith and credit of the U.S. government.

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Short-Term Investment-Grade Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| **U.S. Government and Agency Obligations (16.9%)** | **U.S. Government and Agency Obligations (16.9%)** | **U.S. Government and Agency Obligations (16.9%)** | **U.S. Government and Agency Obligations (16.9%)** | **U.S. Government and Agency Obligations (16.9%)** | **U.S. Government and Agency Obligations (16.9%)** |
| **U.S. Government Securities (14.8%)** | **U.S. Government Securities (14.8%)** | **U.S. Government Securities (14.8%)** | **U.S. Government Securities (14.8%)** | **U.S. Government Securities (14.8%)** | **U.S. Government Securities (14.8%)** |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 12/31/23 | 19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18614 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 11/15/24 | 24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22402 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | 65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61394 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/25 | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48102 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | 29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27949 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11593 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | 29500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28638 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 11/15/25 | 55500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55847 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/31/26 | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13376 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/26 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8937 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1957 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 10/31/27 | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20069 |
|  |  |  |  |  | **318878** |
| **Conventional Mortgage-Backed Securities (2.1%)** | **Conventional Mortgage-Backed Securities (2.1%)** | **Conventional Mortgage-Backed Securities (2.1%)** | **Conventional Mortgage-Backed Securities (2.1%)** | **Conventional Mortgage-Backed Securities (2.1%)** | **Conventional Mortgage-Backed Securities (2.1%)** |
| <sup>3,4,5</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 5.000% | 1/12/53–<br> 2/13/53 | &nbsp;&nbsp; 17750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17498 |
| <sup>3,4,5</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 5.500% | 1/12/53–<br> 2/13/53 | &nbsp;&nbsp; 27250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27330 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp; **44828** |
| **Total U.S. Government and Agency Obligations (Cost $374,518)** | **Total U.S. Government and Agency Obligations (Cost $374,518)** | **Total U.S. Government and Agency Obligations (Cost $374,518)** | **Total U.S. Government and Agency Obligations (Cost $374,518)** | **Total U.S. Government and Agency Obligations (Cost $374,518)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**363706** |
| **Asset-Backed/Commercial Mortgage-Backed Securities (5.5%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (5.5%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (5.5%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (5.5%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (5.5%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (5.5%)** |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A3 Series 2022-3 | 5.070% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A4 Series 2022-3 | 5.070% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;American Express Credit Account Class A Series 2022-2 | 3.390% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 864 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;American Express Credit Account Master Trust Class A Series 2022-3 | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2490 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;American Express Credit Account Master Trust Class A Series 2022-4 | 4.950% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 644 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;American Homes 4 Rent Trust Class A Series 2014-SFR2 | 3.786% | 10/17/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;American Homes 4 Rent Trust Class A Series 2015-SFR2 | 3.732% | 10/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;American Homes 4 Rent Trust Class B Series 2014-SFR2 | 4.290% | 10/17/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;American Homes 4 Rent Trust Class B Series 2015-SFR2 | 4.295% | 10/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class C Series 2020-2 | 1.480% | &nbsp;&nbsp;&nbsp;&nbsp;2/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class D Series 2019-1 | 3.620% | &nbsp;&nbsp;&nbsp;&nbsp;3/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp; 482 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class D Series 2020-2 | 2.130% | &nbsp;&nbsp;&nbsp;&nbsp;3/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 251 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Avis Budget Rental Car Funding AESOP LLC Class A Series 2018-2A | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp; 314 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Avis Budget Rental Car Funding AESOP LLC Class A Series 2019-2A | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 444 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BA Credit Card Trust Class A1 Series 2021-A1 | 0.440% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 122 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BA Credit Card Trust Class A1 Series 2022-A1 | 3.530% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp; 408 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BA Credit Card Trust Class A2 Series 2022-A2 | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 555 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Banc of America Commercial Mortgage Trust Class A4 Series 2017-BNK3 | 3.574% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/50 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Banc of America Commercial Mortgage Trust Class C Series 2015-UBS7 | 4.339% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 36 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Banc of America Funding Trust Class 2A2 Series 2006-H | 3.893% | &nbsp;&nbsp;&nbsp;&nbsp;9/20/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp; 57 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK4 | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK7 | 3.175% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 27 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK8 | 3.488% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 332 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK9 | 3.538% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 231 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2017-BNK7 | 3.435% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 249 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2017-BNK6 | 3.741% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 72 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BANK Class ASB Series 2018-BNK14 | 4.185% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp; 467 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BANK Class ASB Series 2019-BNK17 | 3.623% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164 | &nbsp;&nbsp;&nbsp; 154 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A1 Series 2022-C16 | 4.021% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp; 248 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Bear Stearns ARM Trust Class 1A1 Series 2007-3 | 3.255% | &nbsp;&nbsp;&nbsp;&nbsp;5/25/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp; 81 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Bear Stearns ARM Trust Class 2A1 Series 2006-4 | 3.625% | 10/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp; 79 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2018-B8 | 3.963% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B1 | 3.666% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 177 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B2 | 3.882% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AM Series 2018-B1 | 3.878% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 144 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class ASB Series 2019-B10 | 3.615% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177 | &nbsp;&nbsp;&nbsp; 166 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Brazos Higher Education Authority Inc. Class A2 Series 2011-1, 3M USD LIBOR + 0.800% | 5.499% | &nbsp;&nbsp;&nbsp;&nbsp;2/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 40 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;BX Trust Class A Series 2019-OC11 | 3.202% | &nbsp;&nbsp;&nbsp;&nbsp;12/9/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 309 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Canadian Pacer Auto Receivables Trust Class A4 Series 2019-1A | 2.960% | &nbsp;&nbsp;&nbsp;&nbsp;6/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp; 88 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Canadian Pacer Auto Receivables Trust Class A4 Series 2020-1A | 1.890% | &nbsp;&nbsp;&nbsp;&nbsp;3/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A Series 2022-A2 | 3.490% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1310 | &nbsp;&nbsp;&nbsp; 1274 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A Series 2022-A3 | 4.949% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp; 715 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A3 Series 2019-A3 | 2.060% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 237 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A3 Series 2021-A3 | 1.040% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1340 | &nbsp;&nbsp; 1251 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A3 Series 2021-1 | 0.770% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 376 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A3 Series 2022-2 | 3.660% | &nbsp;&nbsp;&nbsp;&nbsp;5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 547 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A4 Series 2021-1 | 1.040% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 337 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A4 Series 2022-2 | 3.690% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp; 488 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;CARDS II Trust Class A Series 2021-1A | 0.602% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1460 | &nbsp;&nbsp; 1378 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class C Series 2020-3 | 1.690% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 150 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class C Series 2020-4 | 1.300% | &nbsp;&nbsp;&nbsp;&nbsp;8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust Class A3 Series 2021-P3 | 0.700% | 11/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 559 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust Class A4 Series 2021-P3 | 1.030% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 252 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A3 Series 2018-CD7 | 4.013% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2016-CD1 | 2.724% | &nbsp;&nbsp;&nbsp;&nbsp;8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 86 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2017-CD3 | 3.631% | &nbsp;&nbsp;&nbsp;&nbsp;2/10/50 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 102 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2017-CD4 | 3.514% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 167 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2018-CD7 | 4.279% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A5 Series 2017-CD6 | 3.456% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AM Series 2016-CD1 | 2.926% | &nbsp;&nbsp;&nbsp;&nbsp;8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 71 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AM Series 2017-CD4 | 3.747% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AM Series 2017-CD6 | 3.709% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AS Series 2016-CD1 | 3.684% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 54 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class C Series 2016-CD1 | 3.631% | &nbsp;&nbsp;&nbsp;&nbsp;8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 34 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class C Series 2018-CD7 | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 75 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class A4 Series 2016-C4 | 3.283% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp; 94 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;CHL Mortgage Class 1A1 Series 2006-HYB1 Pass-Through Trust | 3.324% | &nbsp;&nbsp;&nbsp;&nbsp;3/20/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 69 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;CHL Mortgage Class 3A1 Series 2007-HYB2 Pass-Through Trust | 3.255% | &nbsp;&nbsp;&nbsp;&nbsp;2/25/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 70 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A3 Series 2017-P8 | 3.203% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 54 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2014-GC25 | 3.635% | 10/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp; 627 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2015-GC31 | 3.762% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;1315 | &nbsp;&nbsp; 1250 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2016-GC36 | 3.349% | &nbsp;&nbsp;&nbsp;&nbsp;2/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 160 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2017-C4 | 3.471% | 10/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2014-GC23 | 3.863% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 296 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2017-P8 | 3.789% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class B Series 2014-GC23 | 4.175% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 123 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class B Series 2017-P8 | 4.192% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp; 211 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class C Series 2014-GC23 | 4.427% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp; 143 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class C Series 2015-GC33 | 4.573% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class C Series 2017-P8 | 4.263% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Citigroup Mortgage Loan Trust Class 2A1A Series 2007-AR8 | 3.595% | &nbsp;&nbsp;&nbsp;&nbsp;7/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 36 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CNH Equipment Trust Class A2 Series 2022-B | 3.940% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 365 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CNH Equipment Trust Class A3 Series 2022-B | 3.890% | &nbsp;&nbsp;&nbsp;&nbsp;8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 318 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CNH Equipment Trust Class A4 Series 2022-B | 3.910% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 163 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2013-CR12 | 3.765% | 10/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp; 155 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2014-CR14 | 3.955% | &nbsp;&nbsp;&nbsp;&nbsp;2/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2013-CR13 | 4.194% | 11/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp; 75 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2013-CR9 | 4.266% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp; 241 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR25 | 3.759% | &nbsp;&nbsp;&nbsp;&nbsp;8/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp; 242 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR26 | 3.630% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753 | &nbsp;&nbsp;&nbsp; 713 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR27 | 3.612% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp; 777 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2015-CR24 | 3.696% | &nbsp;&nbsp;&nbsp;&nbsp;8/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp; 306 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2013-CR6 | 3.147% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 249 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2013-CR9 | 4.289% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2013-LC13 | 4.557% | &nbsp;&nbsp;&nbsp;&nbsp;8/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp; 430 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-CR17 | 4.174% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 626 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class B Series 2013-CR6 | 3.397% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 70 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class C Series 2013-CR9 | 4.289% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 269 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class C Series 2015-CR27 | 4.449% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp; 743 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A3 Series 2015-C3 | 3.447% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp; 188 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2015-C2 | 3.504% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp; 312 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A5 Series 2016-C7 | 3.502% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp; 114 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class C Series 2015-C3 | 4.359% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 207 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;DBGS Mortgage Trust Class A4 Series 2018-C1 | 4.466% | 10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp; 390 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A4 Series 2016-C3 | 2.632% | &nbsp;&nbsp;&nbsp;&nbsp;8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 272 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A5 Series 2017-C6 | 3.328% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 119 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A Series 2022-A2 | 3.320% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1290 | &nbsp;&nbsp; 1244 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A Series 2022-A4 | 5.030% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;&nbsp; 616 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A2 Series 2021-A2 | 1.030% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 288 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A3 Series 2022-A3 | 3.560% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;2880 | &nbsp;&nbsp; 2791 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;DLLAD 2021-1 LLC Class A3 | 0.640% | &nbsp;&nbsp;&nbsp;&nbsp;9/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 373 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;DLLMT 2021-1 LLC Class A3 | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 334 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;DLLMT 2021-1 LLC Class A4 | 1.240% | &nbsp;&nbsp;&nbsp;&nbsp;6/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 212 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class C Series 2020-2 | 2.280% | &nbsp;&nbsp;&nbsp;&nbsp;8/17/26 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 114 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class D Series 2018-5 | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp; 316 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class D Series 2019-4 | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp; 153 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class D Series 2020-1 | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 177 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class D Series 2020-2 | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;Edsouth Indenture No. 9 LLC Class A Series 2015-1, 1M USD LIBOR + 0.800% | 5.189% | 10/25/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp; 181 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;EDvestinU Private Education Loan Issue No. 1 LLC Class A Series 2019-A | 3.580% | 11/25/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp; 91 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing LLC Class A2 Series 2021-2 | 0.480% | &nbsp;&nbsp;&nbsp;&nbsp;5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp; 290 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing LLC Class A2 Series 2021-3 | 0.770% | &nbsp;&nbsp;&nbsp;&nbsp;8/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp; 368 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;First Horizon Mortgage Class 1A1 Series 2006-AR3 Pass-Through Trust | 3.390% | 11/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 27 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;First Horizon Mortgage Class 1A1 Series 2006-AR4 Pass-Through Trust | 3.803% | &nbsp;&nbsp;&nbsp;&nbsp;1/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp; 52 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A Series 2020-1 | 2.040% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp; 404 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A Series 2022-1 | 3.880% | 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 334 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2022-B | 3.740% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 487 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2022-B | 3.930% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2022-D | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 283 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class B Series 2018-1 | 3.340% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp; 489 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class B Series 2020-1 | 2.290% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class B Series 2020-2 | 1.490% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 187 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class C Series 2018-2 | 3.760% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class C Series 2020-1 | 2.540% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 212 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class C Series 2020-C | 1.040% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 154 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class C Series 2021-1 | 1.910% | 10/17/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2018-4 | 4.060% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 159 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2020-2 | 1.060% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 63 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class D Series 2020-1 | 2.120% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp; 185 |
| <sup>3,4,6,7</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac STACR REMIC Trust Class M1A Series 2022-HQA1, SOFR30A + 2.100% | 6.028% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A4 Series 2021-2 | 0.410% | &nbsp;&nbsp;&nbsp;&nbsp;5/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class B Series 2022-2 | 4.020% | &nbsp;&nbsp;&nbsp;&nbsp;5/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 252 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class C Series 2020-2 | 2.560% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 150 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class D Series 2020-2 | 3.210% | 12/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 209 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2021-4 | 0.680% | &nbsp;&nbsp;&nbsp;&nbsp;9/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2022-3 | 3.640% | &nbsp;&nbsp;&nbsp;&nbsp;4/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp; 929 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2021-2 | 0.820% | 10/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 305 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2021-3 | 0.730% | &nbsp;&nbsp;&nbsp;&nbsp;8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp; 380 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2021-4 | 0.990% | 10/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp; 309 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2022-3 | 3.710% | 12/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp; 495 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2022-4 | 4.880% | &nbsp;&nbsp;&nbsp;&nbsp;8/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp; 747 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class B Series 2020-3 | 0.810% | &nbsp;&nbsp;&nbsp;&nbsp;1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class B Series 2020-4 | 0.730% | &nbsp;&nbsp;&nbsp;&nbsp;3/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 223 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class B Series 2021-1 | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class B Series 2021-2 | 1.090% | 12/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 210 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class B Series 2021-4 | 1.250% | 10/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 72 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class B Series 2022-2 | 3.770% | &nbsp;&nbsp;&nbsp;&nbsp;4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 476 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class C Series 2020-3 | 1.370% | &nbsp;&nbsp;&nbsp;&nbsp;1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class C Series 2020-4 | 1.050% | &nbsp;&nbsp;&nbsp;&nbsp;5/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 84 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class C Series 2021-1 | 1.040% | &nbsp;&nbsp;&nbsp;&nbsp;5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 64 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class C Series 2021-2 | 1.280% | &nbsp;&nbsp;&nbsp;&nbsp;1/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class D Series 2020-3 | 1.910% | &nbsp;&nbsp;&nbsp;&nbsp;9/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;GM Financial Revolving Receivables Trust Class A Series 2021-1 | 1.170% | &nbsp;&nbsp;&nbsp;&nbsp;6/12/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp; 382 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;GM Financial Revolving Receivables Trust Class B Series 2021-1 | 1.490% | &nbsp;&nbsp;&nbsp;&nbsp;6/12/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 52 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;GM Financial Revolving Receivables Trust Class C Series 2021-1 | 1.670% | &nbsp;&nbsp;&nbsp;&nbsp;6/12/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;GMACM Mortgage Loan Trust Class 3A1 Series 2005-AR6 | 3.600% | 11/19/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;GMF Floorplan Owner Revolving Trust Class A Series 2020-2 | 0.690% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp; 636 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;GMF Floorplan Owner Revolving Trust Class B Series 2020-1 | 1.030% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;GMF Floorplan Owner Revolving Trust Class B Series 2020-2 | 0.960% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 270 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;GMF Floorplan Owner Revolving Trust Class C Series 2020-1 | 1.480% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 107 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;GMF Floorplan Owner Revolving Trust Class C Series 2020-2 | 1.310% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Golden Credit Card Trust Class A Series 2021-1A | 1.140% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp; 736 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Corp. II Class A5 Series 2018-GS10 | 4.155% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A3 Series 2017-GS6 | 3.433% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2013-GC12 | 3.135% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp; 303 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2015-GC30 | 3.382% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp; 390 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2015-GC32 | 3.764% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp; 218 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2015-GC34 | 3.506% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588 | &nbsp;&nbsp; 553 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2016-GS3 | 2.850% | 10/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp; 482 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2018-GS9 | 3.992% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 9 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GC38 | 3.968% | &nbsp;&nbsp;&nbsp;&nbsp;2/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GC40 | 3.160% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/52 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 97 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2014-GC24 | 3.931% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607 | &nbsp;&nbsp; 585 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2014-GC20 | 4.258% | &nbsp;&nbsp;&nbsp;&nbsp;4/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2014-GC24 | 4.162% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 361 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class B Series 2013-GC12 | 3.777% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class B Series 2014-GC24 | 4.511% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 254 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class C Series 2013-GC13 | 4.078% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class C Series 2014-GC24 | 4.532% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp; 374 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class C Series 2015-GC34 | 4.639% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 281 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Motorcycle Trust Class A3 Series 2021-B | 0.560% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp; 725 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Motorcycle Trust Class A4 Series 2020-A | 1.930% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 236 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Hertz Vehicle Financing III LLC Class A Series 2022-1A | 1.990% | &nbsp;&nbsp;&nbsp;&nbsp;6/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 304 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Hertz Vehicle Financing III LLC Class A Series 2022-1A | 2.630% | &nbsp;&nbsp;&nbsp;&nbsp;6/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 126 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Hertz Vehicle Financing III LLC Class A Series 2022-3A | 3.370% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Hertz Vehicle Financing III LLC Class C Series 2022-3A | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A2 Series 2022-2 | 3.810% | &nbsp;&nbsp;&nbsp;&nbsp;3/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 397 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2021-4 | 1.140% | &nbsp;&nbsp;&nbsp;&nbsp;6/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 229 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2022-2 | 3.730% | &nbsp;&nbsp;&nbsp;&nbsp;7/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 440 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A4 Series 2021-2 | 0.550% | &nbsp;&nbsp;&nbsp;&nbsp;8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A4 Series 2021-3 | 0.600% | 12/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 320 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A4 Series 2022-2 | 3.760% | 12/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp; 184 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;HPEFS Equipment Trust Class A3 Series 2022-2A | 3.760% | &nbsp;&nbsp;&nbsp;&nbsp;9/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 225 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Hudson Yards Mortgage Trust Class A Series 2019-30HY | 3.228% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 283 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Hudsons Bay Simon JV Trust Class A7 Series 2015-HB7 | 3.914% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 446 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Lease Securitization Trust Class B Series 2021-C | 0.760% | &nbsp;&nbsp;&nbsp;&nbsp;2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 596 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2021-C | 0.740% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 226 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2022-B | 3.720% | 11/16/26 | &nbsp;&nbsp; 1010 | &nbsp;&nbsp; 990 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A4 Series 2021-B | 0.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 571 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A4 Series 2021-C | 1.030% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 344 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A4 Series 2022-B | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp; 525 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class B Series 2019-B | 2.210% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 117 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class B Series 2020-C | 0.810% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 256 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class B Series 2021-A | 1.090% | &nbsp;&nbsp;&nbsp;&nbsp;5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 244 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class B Series 2021-B | 0.910% | &nbsp;&nbsp;&nbsp;&nbsp;2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 204 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class C Series 2020-C | 1.080% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 226 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class C Series 2021-B | 1.120% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 219 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A3 Series 2013-C16 | 3.881% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp; 28 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A4 Series 2013-C13 | 3.994% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 54 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A5 Series 2013-LC11 | 2.960% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class AS Series 2013-C16 | 4.517% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 394 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class B Series 2013-C16 | 4.943% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 541 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class C Series 2013-C13 | 4.122% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 69 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class C Series 2013-C16 | 5.008% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 264 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class D Series 2010-C2 | 5.767% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp; 54 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A3 Series 2015-C31 | 3.801% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp; 489 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2013-C17 | 4.199% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2014-C21 | 3.493% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp; 90 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C27 | 3.179% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp; 392 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C32 | 3.329% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 116 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2013-C12 | 3.664% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 39 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2013-C15 | 4.131% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C24 | 3.639% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;1204 | &nbsp;&nbsp;&nbsp; 1158 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2015-C32 | 3.598% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 537 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2013-C12 | 4.052% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 178 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C18 | 4.439% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 291 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2015-C30 | 4.226% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp; 359 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class B Series 2014-C18 | 4.735% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 289 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class C Series 2014-C18 | 4.735% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 234 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A4 Series 2017-JP6 | 3.224% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A5 Series 2017-JP5 | 3.723% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A3 Series 2016-C4 | 3.141% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A4 Series 2018-C8 | 4.211% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 9 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A5 Series 2017-C7 | 3.409% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 147 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class AS Series 2017-C7 | 3.713% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 223 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Laurel Road Prime Student Loan Trust Class A2B Series 2017-C | 2.810% | 11/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp; 38 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Laurel Road Prime Student Loan Trust Class A2FX Series 2018-B | 3.540% | &nbsp;&nbsp;&nbsp;&nbsp;5/26/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 63 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Master Credit Card Trust Class A Series 2021-1A | 0.530% | 11/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;1420 | &nbsp;&nbsp; 1334 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Master Credit Card Trust II Class A2 Series 2022-1 | 1.660% | &nbsp;&nbsp;&nbsp;&nbsp;7/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp; 411 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;MASTR Adjustable Rate Mortgages Trust Class 5A1 Series 2004-3 | 3.091% | &nbsp;&nbsp;&nbsp;&nbsp;4/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Receivables Trust Class A4 Series 2022-1 | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp; 857 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Merrill Lynch Mortgage Investors Trust MLMI Class 2A Series 2003-A4 | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;7/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Merrill Lynch Mortgage Investors Trust MLMI Class 2A2 Series 2003-A2, 6M USD LIBOR + 1.500% | 6.709% | &nbsp;&nbsp;&nbsp;&nbsp;2/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;MMAF Equipment Finance LLC Class A4 Series 2018-A | 3.390% | &nbsp;&nbsp;&nbsp;&nbsp;1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 53 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;MMAF Equipment Finance LLC Class A5 Series 2018-A | 3.610% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/42 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 107 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;MMAF Equipment Finance LLC Class A5 Series 2019-A | 3.080% | 11/12/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp; 211 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A3 Series 2015-C23 | 3.451% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/50 | &nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp; 111 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A3 Series 2016-C32 | 3.459% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp; 102 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2013-C13 | 4.039% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C23 | 3.719% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932 | &nbsp;&nbsp; 883 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2016-C29 | 3.325% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779 | &nbsp;&nbsp; 724 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2016-C32 | 3.720% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904 | &nbsp;&nbsp; 837 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2017-C34 | 3.536% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2015-C25 | 3.635% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp; 1001 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class AS Series 2013-C7 | 3.214% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class AS Series 2014-C14 | 4.384% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 438 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class AS Series 2014-C16 | 4.094% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 221 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class AS Series 2014-C17 | 4.011% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 153 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class B Series 2014-C16 | 4.315% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 533 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class C Series 2013-C10 | 4.070% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 64 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class C Series 2014-C15 | 4.892% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class C Series 2014-C16 | 4.748% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 280 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class C Series 2016-C29 | 4.722% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 158 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A Series 2014-150E | 3.912% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 337 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A Series 2015-420 | 3.727% | 10/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp; 341 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A3 Series 2016-BNK2 | 2.791% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 284 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2015-UBS8 | 3.809% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916 | &nbsp;&nbsp; 861 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2016-BNK2 | 3.049% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 365 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2016-UB11 | 2.782% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class ASB Series 2017-HR2 | 3.509% | 12/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp; 133 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class C Series 2015-UBS8 | 4.580% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Mortgage Loan Trust Class 5A1 Series 2006-8AR | 4.386% | &nbsp;&nbsp;&nbsp;&nbsp;6/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 41 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;MSBAM Commercial Mortgage Securities Trust Class A2 Series 2012-CKSV | 3.277% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Navient Private Education Loan Trust Class A2A Series 2017-A | 2.880% | 12/16/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 70 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Navient Private Education Loan Trust Class A2A Series 2018-BA | 3.610% | 12/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp; 219 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;Navient Student Loan Trust Class A2 Series 2016-6A, 1M USD LIBOR + 0.750% | 5.139% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp; 51 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;One Bryant Park Trust Class A Series 2019-OBP | 2.516% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Palisades Center Trust Class A Series 2016-PLSD | 2.713% | &nbsp;&nbsp;&nbsp;&nbsp;4/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 157 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;Pepper Residential Securities Trust Class A1U Series 21A, 1M USD LIBOR + 0.880% | 5.206% | &nbsp;&nbsp;&nbsp;&nbsp;1/16/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp; 34 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;Pepper Residential Securities Trust No. 22 Class A1U Series 22A, 1M USD LIBOR + 1.000% | 5.353% | &nbsp;&nbsp;&nbsp;&nbsp;6/20/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 28 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;Pepper Residential Securities Trust No. 23 Class A1U Series 23A, 1M USD LIBOR + 0.950% | 5.289% | &nbsp;&nbsp;&nbsp;&nbsp;8/18/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp; 27 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;PHEAA Student Loan Trust Class A Series 2016-2A, 1M USD LIBOR + 0.950% | 5.339% | 11/25/65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp; 203 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Progress Residential Trust Class A Series 2022-SFR3 | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/17/39 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 99 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Progress Residential Trust Class A Series 2022-SFR5 | 4.451% | &nbsp;&nbsp;&nbsp;&nbsp;6/17/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Progress Residential Trust Class B Series 2022-SFR3 | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/17/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Progress Residential Trust Class B Series 2022-SFR5 | 4.896% | &nbsp;&nbsp;&nbsp;&nbsp;6/17/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;RESIMAC Bastille Trust Class A1 Series 2018-1NCA, 1M USD LIBOR + 0.850% | 5.022% | &nbsp;&nbsp;&nbsp;&nbsp;12/5/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp; 51 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;RESIMAC MBS Trust Class A1A Series 2018-2A, 1M USD LIBOR + 0.850% | 5.124% | &nbsp;&nbsp;&nbsp;&nbsp;4/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;RFMSI Series Trust Class 2A1 Series 2006-SA3 | 5.145% | &nbsp;&nbsp;&nbsp;&nbsp;9/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 21 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;RFMSI Trust Class 2A1 Series 2006-SA2 | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp; 82 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class A3 Series 2022-3 | 3.400% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 226 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class A3 Series 2022-5 | 4.110% | &nbsp;&nbsp;&nbsp;&nbsp;8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp; 803 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class A3 Series 2022-6 | 4.490% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp; 647 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2022-2 | 3.440% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp; 686 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2022-3 | 4.130% | &nbsp;&nbsp;&nbsp;&nbsp;8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 390 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2022-2 | 3.760% | &nbsp;&nbsp;&nbsp;&nbsp;7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 364 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2022-3 | 4.490% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 607 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class D Series 2020-2 | 2.220% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp; 857 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Santander Retail Auto Lease Trust Class A3 Series 2021-B | 0.510% | &nbsp;&nbsp;&nbsp;&nbsp;8/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 542 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Santander Retail Auto Lease Trust Class A4 Series 2021-B | 0.540% | &nbsp;&nbsp;&nbsp;&nbsp;6/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp; 274 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Santander Retail Auto Lease Trust Class A4 Series 2021-C | 0.590% | &nbsp;&nbsp;&nbsp;&nbsp;3/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 255 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Santander Retail Auto Lease Trust Class B Series 2022-B | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 173 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Santander Retail Auto Lease Trust Class C Series 2020-B | 1.180% | 12/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 295 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Santander Retail Auto Lease Trust Class C Series 2021-C | 1.110% | &nbsp;&nbsp;&nbsp;&nbsp;3/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp; 380 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Santander Retail Auto Lease Trust Class D Series 2020-A | 2.520% | 11/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 464 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Santander Retail Auto Lease Trust Class D Series 2020-B | 1.980% | 10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 570 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Santander Retail Auto Lease Trust Class D Series 2021-B | 1.410% | 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 437 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust Class A2A Series 2016-A | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp; 64 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust Class A2A Series 2017-B | 2.820% | 10/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 176 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust Class A2A Series 2018-B | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp; 347 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust Class A2A Series 2018-C | 3.630% | 11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp; 467 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program LLC Class A1 Series 2016-D, 1M USD LIBOR + 0.950% | 5.339% | &nbsp;&nbsp;&nbsp;&nbsp;1/25/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program LLC Class A1 Series 2017-C, 1M USD LIBOR + 0.600% | 4.989% | &nbsp;&nbsp;&nbsp;&nbsp;7/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program LLC Class A2B Series 2016-D | 2.340% | &nbsp;&nbsp;&nbsp;&nbsp;4/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp; 17 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program LLC Class A2B Series 2017-A | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/26/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program LLC Class A2B Series 2017-E | 2.720% | 11/26/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program LLC Class A2FX Series 2017-B | 2.740% | &nbsp;&nbsp;&nbsp;&nbsp;5/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program LLC Class A2FX Series 2017-D | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp; 63 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program LLC Class A2FX Series 2017-F | 2.840% | &nbsp;&nbsp;&nbsp;&nbsp;1/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 63 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Synchrony Card Funding Trust LLC Class A Series 2022-A2 | 3.860% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp; 848 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust Class A3 Series 2021-B | 0.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 443 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust Class A4 Series 2020-A | 0.780% | 12/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 130 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust Class A4 Series 2021-B | 0.630% | &nbsp;&nbsp;&nbsp;&nbsp;9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 216 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust Class B Series 2021-B | 0.910% | &nbsp;&nbsp;&nbsp;&nbsp;9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp; 316 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust Class C Series 2020-A | 1.680% | &nbsp;&nbsp;&nbsp;&nbsp;2/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust Class C Series 2021-B | 1.120% | &nbsp;&nbsp;&nbsp;&nbsp;9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 213 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Tidewater Auto Receivables Trust Class D Series 2018-AA | 4.300% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;T-Mobile US Trust Class A Series 2022-1A | 4.910% | &nbsp;&nbsp;&nbsp;&nbsp;5/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp; 707 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;TMSQ Mortgage Trust Class A Series 2014-1500 | 3.680% | 10/10/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp; 506 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Loan Extended Note Trust Class A Series 2019-1A | 2.560% | 11/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Loan Extended Note Trust Class A Series 2020-1A | 1.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp; 539 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Loan Extended Note Trust Class A Series 2021-1A | 1.070% | &nbsp;&nbsp;&nbsp;&nbsp;2/27/34 | &nbsp;&nbsp;&nbsp;&nbsp;1280 | &nbsp;&nbsp;&nbsp; 1135 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Loan Extended Note Trust Class A Series 2022-1A | 3.820% | &nbsp;&nbsp;&nbsp;&nbsp;4/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp; 610 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A2A Series 2022-C | 3.830% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; 604 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2021-C | 0.720% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp; 514 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2022-C | 3.760% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp; 699 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2021-D | 1.020% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 297 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2022-C | 3.770% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp; 319 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2022-D | 5.430% | &nbsp;&nbsp;&nbsp;&nbsp;4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp; 447 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;Trinity Rail Leasing LLC Class A2 Series 2018-1A | 4.620% | &nbsp;&nbsp;&nbsp;&nbsp;6/17/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp; 599 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C7 | 3.679% | 12/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class ASB Series 2019-C16 | 3.460% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp; 155 |
| <sup>3,6</sup> | &nbsp;&nbsp;&nbsp;UBS-BAMLL Trust Class A Series 2012-WRM | 3.663% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp; 18 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;UBS-Barclays Commercial Mortgage Trust Class AS Series 2013-C6 | 3.469% | &nbsp;&nbsp;&nbsp;&nbsp;4/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2021-1 | 0.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;1540 | &nbsp;&nbsp; 1448 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2021-2 | 0.990% | &nbsp;&nbsp;&nbsp;&nbsp;4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp; 494 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2022-6 | 3.670% | &nbsp;&nbsp;&nbsp;&nbsp;1/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp; 560 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A1a Series 2022-7 | 5.230% | 11/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp; 583 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class B Series 2021-1 | 0.690% | &nbsp;&nbsp;&nbsp;&nbsp;5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp; 684 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class B Series 2021-2 | 1.280% | &nbsp;&nbsp;&nbsp;&nbsp;4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 530 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class C Series 2021-1 | 0.890% | &nbsp;&nbsp;&nbsp;&nbsp;5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 367 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Verizon Owner Trust Class B Series 2020-B | 0.680% | &nbsp;&nbsp;&nbsp;&nbsp;2/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 607 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;WaMu Mortgage Pass-Through Certificates Class 1A7 Series 2003-AR9 Trust | 4.124% | &nbsp;&nbsp;&nbsp;&nbsp;9/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 5 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;WaMu Mortgage Pass-Through Certificates Class A Series 2002-AR18 Trust | 4.343% | &nbsp;&nbsp;&nbsp;&nbsp;1/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;WaMu Mortgage Pass-Through Certificates Class A7 Series 2003-AR7 Trust | 3.819% | &nbsp;&nbsp;&nbsp;&nbsp;8/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A3 Series 2016-BNK1 | 2.652% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 289 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A3 Series 2017-C40 | 3.317% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C30 | 3.664% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 522 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2016-C37 | 3.525% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 159 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2017-C39 | 3.157% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 110 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2017-C40 | 3.581% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2017-RC1 | 3.631% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2018-C46 | 4.152% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 85 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2018-C44 | 4.212% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 303 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2013-LC12 | 4.296% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/46 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 108 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2014-LC16 | 4.020% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2015-C30 | 4.067% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 328 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2015-LC22 | 4.207% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 258 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2019-C49 | 3.933% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 200 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class B Series 2014-LC16 | 4.322% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class C Series 2014-LC16 | 4.458% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp; 148 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class C Series 2015-LC22 | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp; 284 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class C Series 2018-C43 | 4.514% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 67 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Mortgage Backed Securities Trust Class 2A1 Series 2006-AR14 | 4.511% | 10/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 56 |
| <sup>3,6,7</sup> | &nbsp;&nbsp;&nbsp;WFLD Mortgage Trust Class A Series 2014-MONT | 3.755% | &nbsp;&nbsp;&nbsp;&nbsp;8/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 834 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A4 Series 2013-C15 | 4.153% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp; 349 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A4 Series 2014-C21 | 3.410% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp; 61 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A4 Series 2014-LC14 | 3.766% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C21 | 3.678% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589 | &nbsp;&nbsp; 568 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C13 | 3.345% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2014-C21 | 3.891% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 162 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class B Series 2013-C18 | 4.838% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 134 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class B Series 2014-C20 | 4.378% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 251 |
| <sup>3,7</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class C Series 2014-C20 | 4.513% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 78 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2022-C | 3.660% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 377 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A4 Series 2021-D | 1.100% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 345 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A4 Series 2022-C | 3.680% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp; 412 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A4 Series 2022-D | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 278 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class B Series 2020-B | 1.220% | &nbsp;&nbsp;&nbsp;&nbsp;3/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class B Series 2021-B | 1.040% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 127 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class B Series 2021-C | 0.840% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 125 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class C Series 2020-C | 1.390% | &nbsp;&nbsp;&nbsp;&nbsp;5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class C Series 2021-B | 1.290% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class C Series 2021-C | 1.060% | &nbsp;&nbsp;&nbsp;&nbsp;4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 64 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class C Series 2021-D | 1.720% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 128 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Automobile Lease Securitization Trust Class A4 Series 2021-A | 0.500% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 304 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;World Omni Automobile Lease Securitization Trust Class B Series 2022-A | 3.670% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $126,164)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $126,164)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $126,164)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $126,164)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $126,164)** | &nbsp;&nbsp;&nbsp;&nbsp;**118740** |
| **Corporate Bonds (77.5%)** | **Corporate Bonds (77.5%)** | **Corporate Bonds (77.5%)** | **Corporate Bonds (77.5%)** | **Corporate Bonds (77.5%)** | **Corporate Bonds (77.5%)** |
| **Communications (5.9%)** | **Communications (5.9%)** | **Communications (5.9%)** | **Communications (5.9%)** | **Communications (5.9%)** | **Communications (5.9%)** |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/24 | &nbsp;&nbsp; 6116 | &nbsp;&nbsp;&nbsp; 5812 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;6960 | &nbsp;&nbsp; 6282 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;2990 | &nbsp;&nbsp; 2664 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 0.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp; 712 |
|  | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 479 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 4.000% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 146 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp. | 6.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;2246 | &nbsp;&nbsp;&nbsp; 2219 |
|  | &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.908% | &nbsp;&nbsp;&nbsp;&nbsp;7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;9670 | &nbsp;&nbsp; 9483 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;3395 | &nbsp;&nbsp; 3275 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.950% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1640 | &nbsp;&nbsp; 1605 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp; 1667 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Comcast Corp. | 0.010% | &nbsp;&nbsp;&nbsp;&nbsp;9/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;1440 | &nbsp;&nbsp; 1345 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp; 1638 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 5.350% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 1022 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp; 1014 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Cox Communications Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp; 1396 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Deutsche Telekom International Finance BV | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;1/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329 | &nbsp;&nbsp;&nbsp; 311 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Directv Financing LLC / Directv Financing Co-Obligor Inc. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;2065 | &nbsp;&nbsp;&nbsp; 2017 |
|  | &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.900% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1492 | &nbsp;&nbsp; 1444 |
|  | &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;2825 | &nbsp;&nbsp; 2739 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;DISH DBS Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;Expedia Group Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp; 702 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. | 4.030% | &nbsp;&nbsp;&nbsp;&nbsp;1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;1685 | &nbsp;&nbsp; 1665 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;2888 | &nbsp;&nbsp;&nbsp; 2764 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Frontier Communications Holdings LLC | 5.875% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 33 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Frontier Communications Holdings LLC | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Level 3 Financing Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Level 3 Financing Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp; 16 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Level 3 Financing Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 58 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 3.428% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp; 3009 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 3.638% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2485 | &nbsp;&nbsp; 2364 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 3.755% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;6759 | &nbsp;&nbsp;&nbsp; 6100 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/27 | &nbsp;&nbsp; 7946 | &nbsp;&nbsp;&nbsp; 7406 |
|  | &nbsp;&nbsp;&nbsp;Netflix Inc. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 45 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Netflix Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp; 436 |
|  | &nbsp;&nbsp;&nbsp;Netflix Inc. | 4.375% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 205 |
|  | &nbsp;&nbsp;&nbsp;Netflix Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 282 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Netflix Inc. | 5.875% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nexstar Media Inc. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nexstar Media Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;NTT Finance Corp. | 1.162% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;3360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2974 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. / Omnicom Capital Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1018 |
|  | &nbsp;&nbsp;&nbsp;Ooredoo International Finance Ltd. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/21/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 509 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1802 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1184 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Sirius XM Radio Inc. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Sky Ltd. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;1580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1543 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Sky Ltd. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662 |
|  | &nbsp;&nbsp;&nbsp;Sprint LLC | 7.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;Sprint LLC | 7.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 703 |
|  | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;1690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1627 |
|  | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 4.103% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;1256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1190 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;8460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8144 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1550 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1453 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;4592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4330 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252 |
|  | &nbsp;&nbsp;&nbsp;VeriSign Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 506 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 0.850% | 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;1220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1090 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;3965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3564 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 526 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;1510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1471 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2115 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;1580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1371 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Videotron Ltd. | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;4315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4261 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1329 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;1905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1845 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1452 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.375% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1418 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 |
|  |  |  |  |  | **125739** |
| **Consumer Discretionary (5.5%)** | **Consumer Discretionary (5.5%)** | **Consumer Discretionary (5.5%)** | **Consumer Discretionary (5.5%)** | **Consumer Discretionary (5.5%)** | **Consumer Discretionary (5.5%)** |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;1011778 BC ULC / New Red Finance Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 471 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;5810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5793 |
|  | &nbsp;&nbsp;&nbsp;Amazon.Com Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/25 | &nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6991 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 0.550% | &nbsp;&nbsp;&nbsp;&nbsp;7/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;3125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2922 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 463 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 797 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 1.950% | 10/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;1658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1516 |
|  | &nbsp;&nbsp;&nbsp;Asbury Automotive Group Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1696 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;BMW US Capital LLC | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;BMW US Capital LLC | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;BMW US Capital LLC | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;Brunswick Corp. | 0.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 693 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Caesars Entertainment Inc. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Caesars Resort Collection LLC / CRC Finco Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Carnival Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Churchill Downs Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Churchill Downs Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Clarios Global LP | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Daimler Finance North America LLC | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 983 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Daimler Finance North America LLC | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;3335 | &nbsp;&nbsp;&nbsp; 3168 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Daimler Finance North America LLC | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;1621 | &nbsp;&nbsp; 1565 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Daimler Finance North America LLC | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp; 501 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 5.900% | 11/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp; 619 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1331 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 5.950% | 11/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; 628 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;ERAC USA Finance LLC | 3.850% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1355 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;ERAC USA Finance LLC | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp; 636 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;ERAC USA Finance LLC | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 4.134% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 3.375% | 11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp; 476 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 205 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC | 3.815% | &nbsp;&nbsp;&nbsp;&nbsp;11/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 31 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;10/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp; 934 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;3475 | &nbsp;&nbsp; 3543 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 5.100% | &nbsp;&nbsp;&nbsp;&nbsp;1/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;2750 | &nbsp;&nbsp;&nbsp; 2742 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp; 1323 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 1.200% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1297 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;11/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp; 1543 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;1180 | &nbsp;&nbsp;&nbsp; 1120 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp; 886 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 656 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 6.050% | 10/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;4140 | &nbsp;&nbsp;&nbsp; 4212 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp; 5378 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 1083 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 352 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;10/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp; 252 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;1/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 595 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;1135 | &nbsp;&nbsp; 992 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;1501 | &nbsp;&nbsp; 1455 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;1775 | &nbsp;&nbsp; 1550 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Financial Services Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 468 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Financial Services Inc. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;2/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;3469 | &nbsp;&nbsp;&nbsp; 3100 |
|  | &nbsp;&nbsp;&nbsp;Harley-Davidson Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 856 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Hilton Domestic Operating Co. Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 258 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Hilton Domestic Operating Co. Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 29 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp; 899 |
|  | &nbsp;&nbsp;&nbsp;Honda Motor Co. Ltd. | 2.271% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp; 677 |
|  | &nbsp;&nbsp;&nbsp;Honda Motor Co. Ltd. | 2.534% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;1410 | &nbsp;&nbsp; 1290 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 1085 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. | 5.875% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 603 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp; 811 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1755 | &nbsp;&nbsp; 1756 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Live Nation Entertainment Inc. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 342 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Live Nation Entertainment Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;1135 | &nbsp;&nbsp;&nbsp; 1120 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 480 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 5.000% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 840 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Mattel Inc. | 5.875% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 270 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp; 948 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 643 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 854 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Meritage Homes Corp. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 47 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;NCL Corp Ltd. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp; 33 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance Co. LLC | 1.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1499 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance Co. LLC | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance Co. LLC | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;2210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1902 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nissan Motor Co. Ltd. | 3.043% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;3815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3728 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nissan Motor Co. Ltd. | 3.522% | &nbsp;&nbsp;&nbsp;&nbsp;9/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 921 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Penn National Gaming Inc. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
|  | &nbsp;&nbsp;&nbsp;Ross Stores Inc. | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 821 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | 11.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/12/27 | &nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Toll Brothers Finance Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Toll Brothers Finance Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;1565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1522 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 898 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2181 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;1/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;1845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1728 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1874 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;1430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1403 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 0.800% | 10/16/25 | &nbsp;&nbsp; 2115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1896 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 5.400% | 11/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1198 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;1/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2414 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;3695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3447 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;9/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;2240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2210 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Volkswagen Financial Services Australia Pty Ltd. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Volkswagen Financial Services NV | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/18/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 942 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Volkswagen Group of America Finance LLC | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Volkswagen Leasing GmbH | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 809 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Volkswagen Leasing GmbH | 0.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 674 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;William Carter Co. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
|  |  |  |  |  | **118219** |
| **Consumer Staples (4.8%)** | **Consumer Staples (4.8%)** | **Consumer Staples (4.8%)** | **Consumer Staples (4.8%)** | **Consumer Staples (4.8%)** | **Consumer Staples (4.8%)** |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;7-Eleven Inc. | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;3924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3733 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;7-Eleven Inc. | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2012 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;1719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1617 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;1089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1067 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 916 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;2503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2411 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597 |
|  | &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.222% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/24 | &nbsp;&nbsp; 1740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1678 |
|  | &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 2.789% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326 |
|  | &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.215% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;2316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2139 |
|  | &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3074 |
|  | &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.557% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;BAT International Finance plc | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2358 |
|  | &nbsp;&nbsp;&nbsp;BAT International Finance plc | 1.668% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;5180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4586 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;BAT International Finance plc | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 655 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Cargill Inc. | 4.875% | 10/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 887 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;CK Hutchison Europe Finance 18 Ltd. | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376 |
|  | &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1055 |
|  | &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 |
|  | &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.750% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 907 |
|  | &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.400% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 712 |
|  | &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;12/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 856 |
|  | &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;1770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1722 |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;1340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1175 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 5.200% | 10/24/25 | &nbsp;&nbsp; 740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 5.300% | 10/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1064 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1228 |
|  | &nbsp;&nbsp;&nbsp;Fomento Economico Mexicano SAB de CV | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;GSK Consumer Healthcare Capital US LLC | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;4875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4643 |
|  | &nbsp;&nbsp;&nbsp;GSK Consumer Healthcare Capital US LLC | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1808 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 804 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;JDE Peet's NV | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 769 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 556 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.417% | &nbsp;&nbsp;&nbsp;&nbsp;5/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 |
|  | &nbsp;&nbsp;&nbsp;Kimberly-Clark de Mexico SAB de CV | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 331 |
|  | &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562 |
|  | &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1647 |
|  | &nbsp;&nbsp;&nbsp;Kroger Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 |
|  | &nbsp;&nbsp;&nbsp;Kroger Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1403 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Lamb Weston Holdings Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Louis Dreyfus Co. Finance BV | 2.375% | 11/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 |
|  | &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 |
|  | &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560 |
|  | &nbsp;&nbsp;&nbsp;Mead Johnson Nutrition Co. | 4.125% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1017 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Mondelez International Holdings Netherlands BV | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2163 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Mondelez International Holdings Netherlands BV | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Mondelez International Holdings Netherlands BV | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1730 |
|  | &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;2483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2301 |
|  | &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 881 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nestle Holdings Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025 |
|  | &nbsp;&nbsp;&nbsp;Pepsico Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1446 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Performance Food Group Inc. | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Performance Food Group Inc. | 5.500% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.125% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1817 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1110 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.000% | 11/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;2305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2317 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 667 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1011 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.125% | 11/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;3655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3690 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Reckitt Benckiser Treasury Services plc | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;3825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3693 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Reckitt Benckiser Treasury Services plc | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 464 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;5506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5388 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2639 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1804 |
|  | &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/25 | &nbsp;&nbsp; 7260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7154 |
|  | &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;4695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4638 |
|  |  |  |  |  | **103790** |
| **Energy (5.8%)** | **Energy (5.8%)** | **Energy (5.8%)** | **Energy (5.8%)** | **Energy (5.8%)** | **Energy (5.8%)** |
|  | &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc. | 2.061% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 717 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.796% | &nbsp;&nbsp;&nbsp;&nbsp;9/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1473 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.410% | &nbsp;&nbsp;&nbsp;&nbsp;2/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1038 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.119% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1897 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.017% | &nbsp;&nbsp;&nbsp;&nbsp;1/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;1085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1012 |
|  | &nbsp;&nbsp;&nbsp;BP Capital Markets plc | 3.279% | &nbsp;&nbsp;&nbsp;&nbsp;9/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1468 |
|  | &nbsp;&nbsp;&nbsp;Buckeye Partners LP | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 692 |
|  | &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 418 |
|  | &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 577 |
|  | &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;2375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2242 |
|  | &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 7.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;4635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4717 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;4430 | &nbsp;&nbsp; 4455 |
|  | &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;2070 | &nbsp;&nbsp; 2049 |
|  | &nbsp;&nbsp;&nbsp;Cheniere Energy Inc. | 4.625% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Chevron Corp. | 1.554% | &nbsp;&nbsp;&nbsp;&nbsp;5/11/25 | &nbsp;&nbsp; 1116 | &nbsp;&nbsp; 1038 |
|  | &nbsp;&nbsp;&nbsp;Chevron Corp. | 2.954% | &nbsp;&nbsp;&nbsp;&nbsp;5/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;CNX Resources Corp. | 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp; 14 |
|  | &nbsp;&nbsp;&nbsp;ConocoPhillips Co. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp; 742 |
|  | &nbsp;&nbsp;&nbsp;Continental Resources Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429 | &nbsp;&nbsp;&nbsp; 417 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Continental Resources Inc. | 2.268% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 694 |
|  | &nbsp;&nbsp;&nbsp;Coterra Energy Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp; 478 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;CrownRock LP / CrownRock Finance Inc. | 5.625% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;DCP Midstream Operating LP | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp; 58 |
|  | &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2315 | &nbsp;&nbsp;&nbsp; 2315 |
|  | &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.850% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 408 |
|  | &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp; 2422 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;DT Midstream Inc. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/29 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 3.600% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;Ecopetrol SA | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/18/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762 | &nbsp;&nbsp; 758 |
|  | &nbsp;&nbsp;&nbsp;Empresa Nacional del Petroleo | 4.375% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771 | &nbsp;&nbsp; 751 |
|  | &nbsp;&nbsp;&nbsp;Empresa Nacional del Petroleo | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp; 464 |
|  | &nbsp;&nbsp;&nbsp;Empresa Nacional del Petroleo | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;11/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 205 |
|  | &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp; 1617 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP | 5.875% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp; 833 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;1085 | &nbsp;&nbsp; 1056 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1528 | &nbsp;&nbsp; 1446 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856 | &nbsp;&nbsp; 808 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 1.600% | &nbsp;&nbsp;&nbsp;&nbsp;10/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 788 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp; 1022 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 7.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 684 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599 | &nbsp;&nbsp; 598 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 652 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1310 | &nbsp;&nbsp; 1294 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp; 1478 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp; 1484 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1910 | &nbsp;&nbsp; 1851 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.550% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;1220 | &nbsp;&nbsp; 1209 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP / Regency Energy Finance Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;2153 | &nbsp;&nbsp;&nbsp; 2134 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Eni SpA | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/12/23 | &nbsp;&nbsp;&nbsp;&nbsp;1845 | &nbsp;&nbsp; 1826 |
|  | &nbsp;&nbsp;&nbsp;EnLink Midstream Partners LP | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 862 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp; 920 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 34 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;EQM Midstream Partners LP | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp; 625 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 5.678% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 334 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;EQT Corp. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 923 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.992% | &nbsp;&nbsp;&nbsp;&nbsp;3/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp; 833 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.043% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1909 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Gazprom PJSC Via Gaz Capital SA | 3.125% | 11/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Gazprom PJSC Via Gaz Capital SA | 2.949% | &nbsp;&nbsp;&nbsp;&nbsp;1/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 427 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Gazprom PJSC Via Gaz Capital SA | 2.250% | 11/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Harvest Operations Corp. | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 529 |
|  | &nbsp;&nbsp;&nbsp;KazMunayGas National Co. JSC | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;KazMunayGas National Co. JSC | 6.375% | 10/24/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 330 |
|  | &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 365 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp; 499 |
|  | &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp; 1374 |
|  | &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp; 820 |
|  | &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 1.750% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 794 |
|  | &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp; 1017 |
|  | &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;3492 | &nbsp;&nbsp; 3441 |
|  | &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 5.125% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1830 | &nbsp;&nbsp; 1823 |
|  | &nbsp;&nbsp;&nbsp;MPLX LP | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp; 912 |
|  | &nbsp;&nbsp;&nbsp;MPLX LP | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp; 919 |
|  | &nbsp;&nbsp;&nbsp;MPLX LP | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;3260 | &nbsp;&nbsp;&nbsp; 2910 |
|  | &nbsp;&nbsp;&nbsp;Newfield Exploration Co. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1211 | &nbsp;&nbsp;&nbsp; 1199 |
|  | &nbsp;&nbsp;&nbsp;Nustar Logistics LP | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 6.950% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;ONEOK Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp; 460 |
|  | &nbsp;&nbsp;&nbsp;ONEOK Inc. | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp; 675 |
|  | &nbsp;&nbsp;&nbsp;ONEOK Inc. | 5.850% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;3196 | &nbsp;&nbsp; 3240 |
|  | &nbsp;&nbsp;&nbsp;ONEOK Partners LP | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp; 316 |
|  | &nbsp;&nbsp;&nbsp;Pertamina Persero PT | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;1688 | &nbsp;&nbsp; 1675 |
|  | &nbsp;&nbsp;&nbsp;Pertamina Persero PT | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567 | &nbsp;&nbsp; 505 |
|  | &nbsp;&nbsp;&nbsp;Petroleos Mexicanos | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/21/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp; 780 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 658 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 1.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 894 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 3.605% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp; 644 |
|  | &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1290 | &nbsp;&nbsp;&nbsp; 1150 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp; 1114 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 4.650% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2013 | &nbsp;&nbsp; 1971 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 4.500% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1129 | &nbsp;&nbsp; 1085 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;SA Global Sukuk Ltd. | 0.946% | &nbsp;&nbsp;&nbsp;&nbsp;6/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp; 978 |
|  | &nbsp;&nbsp;&nbsp;SA Global Sukuk Ltd. | 0.946% | &nbsp;&nbsp;&nbsp;&nbsp;6/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp; 869 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1736 | &nbsp;&nbsp; 1737 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;3925 | &nbsp;&nbsp; 3934 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;2906 | &nbsp;&nbsp; 2940 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 466 |
|  | &nbsp;&nbsp;&nbsp;Saudi Arabian Oil Co. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 388 |
|  | &nbsp;&nbsp;&nbsp;Schlumberger Finance Canada Ltd. | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp; 692 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;1807 | &nbsp;&nbsp; 1751 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Sinopec Group Overseas Development 2013 Ltd. | 4.375% | 10/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 796 |
|  | &nbsp;&nbsp;&nbsp;Solar Applied Materials Technology Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/27 | &nbsp;&nbsp; 741 | &nbsp;&nbsp; 693 |
| <sup>11</sup> | &nbsp;&nbsp;&nbsp;Southern Gas Corridor CJSC | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 409 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp; 338 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp; 351 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 3.375% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596 | &nbsp;&nbsp; 556 |
|  | &nbsp;&nbsp;&nbsp;State Oil Co. of the Azerbaijan Republic | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/13/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 224 |
|  | &nbsp;&nbsp;&nbsp;Suvidhaa Infoserve Ltd. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA | 2.434% | &nbsp;&nbsp;&nbsp;&nbsp;1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1798 | &nbsp;&nbsp; 1718 |
|  | &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 1.000% | 10/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;3210 | &nbsp;&nbsp; 2973 |
|  | &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 871 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;Western Midstream Operating LP | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 4.500% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp; 657 |
|  | &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;3770 | &nbsp;&nbsp; 3728 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 |
|  | &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 |
|  |  |  |  |  | **125561** |
| **Financials (28.5%)** | **Financials (28.5%)** | **Financials (28.5%)** | **Financials (28.5%)** | **Financials (28.5%)** | **Financials (28.5%)** |
|  | &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/27/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 784 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1940 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.150% | 10/29/23 | &nbsp;&nbsp; 1740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1674 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1891 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;8/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;1680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1589 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.650% | 10/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5264 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.750% | 10/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2674 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 888 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 782 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1810 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 2.450% | 10/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;3233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2827 |
|  | &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;7/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 541 |
|  | &nbsp;&nbsp;&nbsp;Affiliated Managers Group Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Aflac Inc. | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 |
|  | &nbsp;&nbsp;&nbsp;Air Lease Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 |
|  | &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1370 |
|  | &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1174 |
|  | &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2116 |
|  | &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 937 |
|  | &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 786 |
|  | &nbsp;&nbsp;&nbsp;Aircastle Ltd. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 |
|  | &nbsp;&nbsp;&nbsp;Allstate Corp. | 0.750% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293 |
|  | &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1467 |
|  | &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 5.800% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 939 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;1999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1924 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | 3.000% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 884 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;3975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3896 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;11/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;1843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1678 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | 5.850% | &nbsp;&nbsp;&nbsp;&nbsp;11/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2286 |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;1731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1631 |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289 |
|  | &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/25 | &nbsp;&nbsp; 740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 709 |
|  | &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Antares Holdings LP | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 849 |
|  | &nbsp;&nbsp;&nbsp;Aon Corp. / Aon Global Holdings plc | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 916 |
|  | &nbsp;&nbsp;&nbsp;Aon plc | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1221 |
|  | &nbsp;&nbsp;&nbsp;Aon plc | 3.875% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Apollo Management Holdings LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Athene Global Funding | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1052 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Athene Global Funding | 0.914% | &nbsp;&nbsp;&nbsp;&nbsp;8/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Athene Global Funding | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1461 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;2155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1946 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd., 3M Australian Bank Bill Rate + 2.000% | 5.029% | &nbsp;&nbsp;&nbsp;&nbsp;7/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;1424 | &nbsp;&nbsp; 972 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Aviva plc | 6.125% | 11/14/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 290 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Avolon Holdings Funding Ltd. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp; 762 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 2.706% | &nbsp;&nbsp;&nbsp;&nbsp;6/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp; 576 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 0.701% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp; 404 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 2.746% | &nbsp;&nbsp;&nbsp;&nbsp;5/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;2040 | &nbsp;&nbsp;&nbsp; 1910 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 5.147% | &nbsp;&nbsp;&nbsp;&nbsp;8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 792 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 1.849% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 666 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 5.294% | &nbsp;&nbsp;&nbsp;&nbsp;8/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 390 |
|  | &nbsp;&nbsp;&nbsp;Banco Santander SA | 1.722% | &nbsp;&nbsp;&nbsp;&nbsp;9/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 855 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Banco Santander SA, 3M Australian Bank Bill Rate + 1.650% | 4.612% | &nbsp;&nbsp;&nbsp;&nbsp;1/19/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 409 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;8/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp; 807 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;1/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;3104 | &nbsp;&nbsp; 3038 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.843% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;3430 | &nbsp;&nbsp; 3286 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.458% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;2690 | &nbsp;&nbsp; 2621 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 0.976% | &nbsp;&nbsp;&nbsp;&nbsp;4/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;1890 | &nbsp;&nbsp; 1771 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.841% | &nbsp;&nbsp;&nbsp;&nbsp;4/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp; 1074 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 0.981% | &nbsp;&nbsp;&nbsp;&nbsp;9/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 1568 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.093% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;2446 | &nbsp;&nbsp; 2343 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.456% | 10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 709 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.366% | &nbsp;&nbsp;&nbsp;&nbsp;1/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp; 1601 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.015% | &nbsp;&nbsp;&nbsp;&nbsp;2/13/26 | &nbsp;&nbsp; 1974 | &nbsp;&nbsp; 1830 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;2071 | &nbsp;&nbsp; 2029 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.384% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp; 3724 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.319% | &nbsp;&nbsp;&nbsp;&nbsp;6/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;2695 | &nbsp;&nbsp; 2428 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.827% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;2930 | &nbsp;&nbsp; 2897 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.250% | 10/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp; 812 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.197% | 10/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;1440 | &nbsp;&nbsp; 1283 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.658% | &nbsp;&nbsp;&nbsp;&nbsp;3/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;1485 | &nbsp;&nbsp;&nbsp; 1312 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.559% | &nbsp;&nbsp;&nbsp;&nbsp;4/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871 | &nbsp;&nbsp;&nbsp; 816 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.734% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;4675 | &nbsp;&nbsp; 4098 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.248% | 10/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp; 1941 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.824% | &nbsp;&nbsp;&nbsp;&nbsp;1/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 1587 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.551% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/28 | &nbsp;&nbsp;&nbsp;&nbsp;3089 | &nbsp;&nbsp;&nbsp; 2743 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.705% | &nbsp;&nbsp;&nbsp;&nbsp;4/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 556 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.376% | &nbsp;&nbsp;&nbsp;&nbsp;4/27/28 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 956 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.948% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;2440 | &nbsp;&nbsp; 2384 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 6.204% | 11/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;4190 | &nbsp;&nbsp;&nbsp; 4313 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.419% | 12/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 317 |
|  | &nbsp;&nbsp;&nbsp;Bank of Montreal | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp; 2367 |
|  | &nbsp;&nbsp;&nbsp;Bank of Montreal | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 679 |
|  | &nbsp;&nbsp;&nbsp;Bank of Montreal | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 701 |
|  | &nbsp;&nbsp;&nbsp;Bank of Montreal | 0.949% | &nbsp;&nbsp;&nbsp;&nbsp;1/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp; 817 |
|  | &nbsp;&nbsp;&nbsp;Bank of Montreal | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;9/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 396 |
|  | &nbsp;&nbsp;&nbsp;Bank of Montreal | 4.338% | &nbsp;&nbsp;&nbsp;&nbsp;10/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;3138 | &nbsp;&nbsp;&nbsp; 3076 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 1.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp; 588 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 5.224% | 11/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;2490 | &nbsp;&nbsp; 2488 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 4.414% | &nbsp;&nbsp;&nbsp;&nbsp;7/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp; 1774 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 276 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.442% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;1498 | &nbsp;&nbsp; 1406 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 5.802% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;1370 | &nbsp;&nbsp;&nbsp; 1415 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 0.650% | &nbsp;&nbsp;&nbsp;&nbsp;7/31/24 | &nbsp;&nbsp; 740 | &nbsp;&nbsp; 690 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;12/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 2002 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 465 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp; 2166 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1349 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;1470 | &nbsp;&nbsp; 1347 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 4.500% | 12/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;1470 | &nbsp;&nbsp; 1442 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 370 |
|  | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp; 748 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;1780 | &nbsp;&nbsp;&nbsp; 1742 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;1487 | &nbsp;&nbsp; 1427 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 3.932% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;1965 | &nbsp;&nbsp; 1905 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;1796 | &nbsp;&nbsp; 1733 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 2.852% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/26 | &nbsp;&nbsp;&nbsp;&nbsp;1240 | &nbsp;&nbsp;&nbsp; 1151 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp; 948 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.304% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 1291 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 7.325% | &nbsp;&nbsp;&nbsp;&nbsp;11/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;3890 | &nbsp;&nbsp; 4033 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 2.279% | 11/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 277 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.501% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 778 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 7.385% | &nbsp;&nbsp;&nbsp;&nbsp;11/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;2290 | &nbsp;&nbsp; 2382 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Inc. | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;BPCE SA | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 932 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;BPCE SA, 3M Australian Bank Bill Rate + 1.100% | 4.129% | &nbsp;&nbsp;&nbsp;&nbsp;4/26/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp; 1099 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;1192 | &nbsp;&nbsp;&nbsp; 1144 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.945% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1467 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;2460 | &nbsp;&nbsp;&nbsp; 2163 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 564 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 508 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.300% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 483 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 4.166% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;1534 | &nbsp;&nbsp; 1498 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 4.200% | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp; 706 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 2.636% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp; 2438 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp; 693 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 1.878% | &nbsp;&nbsp;&nbsp;&nbsp;11/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;4750 | &nbsp;&nbsp;&nbsp; 4154 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 4.927% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1356 |
|  | &nbsp;&nbsp;&nbsp;Capital One NA | 2.280% | &nbsp;&nbsp;&nbsp;&nbsp;1/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;1535 | &nbsp;&nbsp; 1435 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1530 | &nbsp;&nbsp; 1490 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;1765 | &nbsp;&nbsp; 1724 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp; 784 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 756 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;1370 | &nbsp;&nbsp; 1252 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp; 628 |
|  | &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1278 | &nbsp;&nbsp; 1251 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 0.300% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp; 682 |
|  | &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;1718 | &nbsp;&nbsp; 1646 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp; 774 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.352% | &nbsp;&nbsp;&nbsp;&nbsp;4/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 873 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 382 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 0.981% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1105 | &nbsp;&nbsp; 1034 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.140% | &nbsp;&nbsp;&nbsp;&nbsp;5/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;3723 | &nbsp;&nbsp; 3666 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1087 | &nbsp;&nbsp; 1067 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 1.281% | &nbsp;&nbsp;&nbsp;&nbsp;11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 553 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.014% | &nbsp;&nbsp;&nbsp;&nbsp;1/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;1310 | &nbsp;&nbsp;&nbsp; 1213 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;1984 | &nbsp;&nbsp; 1952 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.290% | &nbsp;&nbsp;&nbsp;&nbsp;3/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 761 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.106% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp; 2100 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 760 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.610% | &nbsp;&nbsp;&nbsp;&nbsp;9/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 802 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.200% | 10/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;2391 | &nbsp;&nbsp;&nbsp; 2216 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.300% | 11/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;1228 | &nbsp;&nbsp; 1185 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 1.122% | &nbsp;&nbsp;&nbsp;&nbsp;1/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp; 1046 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 1.462% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;2860 | &nbsp;&nbsp; 2482 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;1104 | &nbsp;&nbsp; 1055 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.887% | &nbsp;&nbsp;&nbsp;&nbsp;1/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;1290 | &nbsp;&nbsp; 1206 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.070% | &nbsp;&nbsp;&nbsp;&nbsp;2/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;1850 | &nbsp;&nbsp; 1669 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.658% | &nbsp;&nbsp;&nbsp;&nbsp;5/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp; 948 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.668% | &nbsp;&nbsp;&nbsp;&nbsp;7/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;2294 | &nbsp;&nbsp;&nbsp; 2107 |
|  | &nbsp;&nbsp;&nbsp;CNO Financial Group Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp; 745 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia, 3M Australian Bank Bill Rate + 1.800% | 4.942% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 405 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;1015 | &nbsp;&nbsp;&nbsp; 974 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;8/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 732 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1470 | &nbsp;&nbsp; 1384 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;1735 | &nbsp;&nbsp; 1663 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;2928 | &nbsp;&nbsp; 2728 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse AG | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 860 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse AG | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp; 812 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse AG | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 496 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Credit Suisse AG | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;2026 | &nbsp;&nbsp; 1830 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;4/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp; 929 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG, 3M Australian Bank Bill Rate + 1.250% | 4.372% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 203 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Danske Bank A/S | 0.976% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp; 1139 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Danske Bank A/S | 1.549% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp; 254 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Danske Bank A/S | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;de Volksbank NV | 0.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 742 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 0.898% | &nbsp;&nbsp;&nbsp;&nbsp;5/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp; 1169 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 2.222% | &nbsp;&nbsp;&nbsp;&nbsp;9/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp; 903 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 1.447% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp; 985 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 6.119% | &nbsp;&nbsp;&nbsp;&nbsp;7/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 995 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 2.129% | 11/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;2250 | &nbsp;&nbsp; 1985 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 2.311% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;1424 | &nbsp;&nbsp;&nbsp; 1210 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 2.552% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 851 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp; 998 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;1140 | &nbsp;&nbsp; 1050 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 4.682% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 529 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;11/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;DNB Bank ASA | 1.127% | &nbsp;&nbsp;&nbsp;&nbsp;9/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;1420 | &nbsp;&nbsp; 1254 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;F&G Global Funding | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 293 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;F&G Global Funding | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp; 526 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Fidelity & Guaranty Life Holdings Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp; 260 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;First-Citizens Bank & Trust Co. | 3.929% | &nbsp;&nbsp;&nbsp;&nbsp;6/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 248 |
|  | &nbsp;&nbsp;&nbsp;First-Citizens Bank & Trust Co. | 2.969% | &nbsp;&nbsp;&nbsp;&nbsp;9/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp; 486 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Five Corners Funding Trust | 4.419% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp; 858 |
|  | &nbsp;&nbsp;&nbsp;FS KKR Capital Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;GATX Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;GATX Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp; 456 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;1720 | &nbsp;&nbsp; 1691 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp; 1010 | &nbsp;&nbsp; 985 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp; 554 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 0.657% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;5275 | &nbsp;&nbsp;&nbsp; 5076 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 2023 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;1845 | &nbsp;&nbsp; 1785 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.757% | &nbsp;&nbsp;&nbsp;&nbsp;1/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;1865 | &nbsp;&nbsp; 1785 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;2960 | &nbsp;&nbsp; 2850 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;2621 | &nbsp;&nbsp; 2537 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.272% | &nbsp;&nbsp;&nbsp;&nbsp;9/29/25 | &nbsp;&nbsp; 1747 | &nbsp;&nbsp; 1680 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.250% | 10/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;1895 | &nbsp;&nbsp; 1854 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 0.855% | &nbsp;&nbsp;&nbsp;&nbsp;2/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp; 927 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp; 877 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp; 794 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.093% | &nbsp;&nbsp;&nbsp;&nbsp;12/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;2985 | &nbsp;&nbsp; 2635 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.431% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;3375 | &nbsp;&nbsp; 2953 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.542% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;1850 | &nbsp;&nbsp; 1598 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.948% | 10/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;2310 | &nbsp;&nbsp;&nbsp; 2016 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 2.640% | &nbsp;&nbsp;&nbsp;&nbsp;2/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;2267 | &nbsp;&nbsp;&nbsp; 2017 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.615% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;3696 | &nbsp;&nbsp; 3432 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.691% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1393 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.482% | &nbsp;&nbsp;&nbsp;&nbsp;8/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp; 1530 |
|  | &nbsp;&nbsp;&nbsp;Hanover Insurance Group Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp; 1204 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 0.976% | &nbsp;&nbsp;&nbsp;&nbsp;5/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp; 1665 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 1637 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.633% | &nbsp;&nbsp;&nbsp;&nbsp;11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;1584 | &nbsp;&nbsp; 1492 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp; 745 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.999% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;1590 | &nbsp;&nbsp; 1494 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 1.645% | &nbsp;&nbsp;&nbsp;&nbsp;4/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;3780 | &nbsp;&nbsp;&nbsp; 3413 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;5/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;1248 | &nbsp;&nbsp;&nbsp; 1190 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.099% | &nbsp;&nbsp;&nbsp;&nbsp;6/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;4181 | &nbsp;&nbsp;&nbsp; 3811 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.292% | &nbsp;&nbsp;&nbsp;&nbsp;9/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;2070 | &nbsp;&nbsp; 1986 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 1.589% | &nbsp;&nbsp;&nbsp;&nbsp;5/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;2680 | &nbsp;&nbsp;&nbsp; 2310 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.251% | 11/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp; 1040 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.041% | &nbsp;&nbsp;&nbsp;&nbsp;3/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;2320 | &nbsp;&nbsp;&nbsp; 2140 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.755% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1326 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 5.210% | &nbsp;&nbsp;&nbsp;&nbsp;8/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;1680 | &nbsp;&nbsp; 1618 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.390% | &nbsp;&nbsp;&nbsp;&nbsp;11/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;2350 | &nbsp;&nbsp; 2466 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;HSBC Holdings plc, 3M Australian Bank Bill Rate + 1.100% | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686 | &nbsp;&nbsp; 466 |
|  | &nbsp;&nbsp;&nbsp;Huntington Bancshares Inc. | 4.443% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp; 608 |
|  | &nbsp;&nbsp;&nbsp;ING Groep NV | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;ING Groep NV | 1.726% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp; 511 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;5/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 783 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp; 1057 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 1642 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 758 |
|  | &nbsp;&nbsp;&nbsp;Invesco Finance plc | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;1/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;1370 | &nbsp;&nbsp; 1359 |
|  | &nbsp;&nbsp;&nbsp;Invesco Finance plc | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp; 390 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;JAB Holdings BV | 1.000% | 12/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Jackson Financial Inc. | 1.125% | 11/22/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp; 612 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.220% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;4167 | &nbsp;&nbsp; 4050 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 0.824% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;4048 | &nbsp;&nbsp;&nbsp; 3776 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 0.969% | &nbsp;&nbsp;&nbsp;&nbsp;6/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp; 2518 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp; 1204 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.301% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;3610 | &nbsp;&nbsp; 3398 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.561% | 12/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1295 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.005% | &nbsp;&nbsp;&nbsp;&nbsp;3/13/26 | &nbsp;&nbsp; 3174 | &nbsp;&nbsp; 2938 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.083% | &nbsp;&nbsp;&nbsp;&nbsp;4/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;3680 | &nbsp;&nbsp;&nbsp; 3415 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.080% | &nbsp;&nbsp;&nbsp;&nbsp;4/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;2075 | &nbsp;&nbsp;&nbsp; 2017 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1138 | &nbsp;&nbsp;&nbsp; 1076 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.045% | 11/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;4934 | &nbsp;&nbsp; 4356 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.125% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688 | &nbsp;&nbsp; 665 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.040% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;2460 | &nbsp;&nbsp;&nbsp; 2142 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.578% | &nbsp;&nbsp;&nbsp;&nbsp;4/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp; 3257 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.470% | &nbsp;&nbsp;&nbsp;&nbsp;9/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;2150 | &nbsp;&nbsp; 1858 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.782% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp; 851 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.947% | &nbsp;&nbsp;&nbsp;&nbsp;2/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.323% | &nbsp;&nbsp;&nbsp;&nbsp;4/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;3414 | &nbsp;&nbsp; 3255 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.182% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 436 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.851% | &nbsp;&nbsp;&nbsp;&nbsp;7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;2420 | &nbsp;&nbsp; 2363 |
|  | &nbsp;&nbsp;&nbsp;Kemper Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;KeyBank NA | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 685 |
|  | &nbsp;&nbsp;&nbsp;KeyBank NA | 5.850% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp; 751 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Lazard Group LLC | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 222 |
| <sup>12,13</sup> | &nbsp;&nbsp;&nbsp;Lehman Brothers E-Capital Trust I | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/19/65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 491 |
|  | &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.582% | 12/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1475 | &nbsp;&nbsp; 1425 |
|  | &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.716% | &nbsp;&nbsp;&nbsp;&nbsp;8/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp; 1172 |
|  | &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp; 949 |
|  | &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 1.627% | &nbsp;&nbsp;&nbsp;&nbsp;5/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp; 506 |
|  | &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 277 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;LSEGA Financing plc | 0.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp; 1127 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Luminor Bank A/S | 0.792% | &nbsp;&nbsp;&nbsp;&nbsp;12/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;M&T Bank Corp. | 4.553% | &nbsp;&nbsp;&nbsp;&nbsp;8/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp; 2323 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Macquarie Bank Ltd., 3M Australian Bank Bill Rate + 2.900% | 6.010% | &nbsp;&nbsp;&nbsp;&nbsp;5/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;1460 | &nbsp;&nbsp;&nbsp; 1010 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Macquarie Group Ltd. | 1.340% | &nbsp;&nbsp;&nbsp;&nbsp;1/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;1270 | &nbsp;&nbsp;&nbsp; 1104 |
|  | &nbsp;&nbsp;&nbsp;Manufacturers & Traders Trust Co. | 5.400% | 11/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 463 |
|  | &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp; 856 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Metropolitan Life Global Funding I | 0.400% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp; 629 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.801% | &nbsp;&nbsp;&nbsp;&nbsp;7/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; 587 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.193% | &nbsp;&nbsp;&nbsp;&nbsp;2/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp; 866 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.777% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/25 | &nbsp;&nbsp; 1115 | &nbsp;&nbsp; 1085 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 1.412% | &nbsp;&nbsp;&nbsp;&nbsp;7/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;1430 | &nbsp;&nbsp; 1299 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 4.788% | &nbsp;&nbsp;&nbsp;&nbsp;7/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 594 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 0.953% | &nbsp;&nbsp;&nbsp;&nbsp;7/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;2440 | &nbsp;&nbsp; 2268 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 5.063% | &nbsp;&nbsp;&nbsp;&nbsp;9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp; 1590 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 0.962% | 10/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp; 1011 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.757% | &nbsp;&nbsp;&nbsp;&nbsp;9/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 1.538% | &nbsp;&nbsp;&nbsp;&nbsp;7/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;2185 | &nbsp;&nbsp; 1897 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 1.640% | 10/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 692 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.341% | &nbsp;&nbsp;&nbsp;&nbsp;1/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp; 1586 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 5.017% | &nbsp;&nbsp;&nbsp;&nbsp;7/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 488 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc., 3M Australian Bank Bill Rate + 1.250% | 4.515% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.555% | &nbsp;&nbsp;&nbsp;&nbsp;9/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;1052 | &nbsp;&nbsp; 993 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 3.477% | &nbsp;&nbsp;&nbsp;&nbsp;4/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 281 |
|  | &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.226% | &nbsp;&nbsp;&nbsp;&nbsp;5/25/26 | &nbsp;&nbsp; 1110 | &nbsp;&nbsp; 1022 |
|  | &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 1.234% | &nbsp;&nbsp;&nbsp;&nbsp;5/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;1630 | &nbsp;&nbsp;&nbsp; 1411 |
|  | &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 1.554% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp; 1131 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.529% | &nbsp;&nbsp;&nbsp;&nbsp;1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;1105 | &nbsp;&nbsp; 1098 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.731% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;1055 | &nbsp;&nbsp; 1040 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.700% | 10/23/24 | &nbsp;&nbsp; 1115 | &nbsp;&nbsp; 1089 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.791% | &nbsp;&nbsp;&nbsp;&nbsp;1/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp; 1705 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.790% | &nbsp;&nbsp;&nbsp;&nbsp;5/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;5715 | &nbsp;&nbsp; 5325 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.720% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;3933 | &nbsp;&nbsp;&nbsp; 3762 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;2362 | &nbsp;&nbsp; 2308 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.864% | 10/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 358 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.164% | 10/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp; 1104 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 5.000% | 11/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;2820 | &nbsp;&nbsp;&nbsp; 2811 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp; 3002 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.188% | &nbsp;&nbsp;&nbsp;&nbsp;4/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp; 2598 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.103% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp; 680 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.679% | &nbsp;&nbsp;&nbsp;&nbsp;7/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 689 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 368 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp; 1463 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.138% | 10/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 2045 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.985% | 12/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;1842 | &nbsp;&nbsp;&nbsp; 1617 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;1/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp; 2011 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856 | &nbsp;&nbsp;&nbsp; 810 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.593% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;2005 | &nbsp;&nbsp;&nbsp; 1760 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.512% | &nbsp;&nbsp;&nbsp;&nbsp;7/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;2450 | &nbsp;&nbsp;&nbsp; 2128 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.406% | 10/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp; 290 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.475% | &nbsp;&nbsp;&nbsp;&nbsp;1/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;2670 | &nbsp;&nbsp; 2372 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.210% | &nbsp;&nbsp;&nbsp;&nbsp;4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 855 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.591% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 460 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.296% | 10/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp; 4123 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nationwide Building Society | 1.500% | 10/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 259 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Nationwide Building Society | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;1485 | &nbsp;&nbsp; 1497 |
|  | &nbsp;&nbsp;&nbsp;Natwest Group plc | 3.073% | &nbsp;&nbsp;&nbsp;&nbsp;5/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 357 |
|  | &nbsp;&nbsp;&nbsp;NatWest Group plc | 4.269% | &nbsp;&nbsp;&nbsp;&nbsp;3/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;2553 | &nbsp;&nbsp; 2493 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;NatWest Group plc | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 403 |
|  | &nbsp;&nbsp;&nbsp;NatWest Group plc | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 880 |
|  | &nbsp;&nbsp;&nbsp;NatWest Group plc | 1.642% | &nbsp;&nbsp;&nbsp;&nbsp;6/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 607 |
|  | &nbsp;&nbsp;&nbsp;NatWest Group plc | 5.516% | &nbsp;&nbsp;&nbsp;&nbsp;9/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 297 |
|  | &nbsp;&nbsp;&nbsp;NatWest Group plc | 3.754% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;1180 | &nbsp;&nbsp; 1095 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;NatWest Group plc | 2.105% | 11/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;NatWest Markets plc | 0.125% | 11/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 287 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;NIBC Bank NV | 3.125% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 1181 |
|  | &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 1.851% | &nbsp;&nbsp;&nbsp;&nbsp;7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 273 |
|  | &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.329% | &nbsp;&nbsp;&nbsp;&nbsp;1/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp; 614 |
|  | &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 5.386% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 592 |
|  | &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 1075 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Nuveen Finance LLC | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488 | &nbsp;&nbsp; 475 |
|  | &nbsp;&nbsp;&nbsp;OneMain Finance Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;ORIX Corp. | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1286 | &nbsp;&nbsp;&nbsp; 1126 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Pension Insurance Corp. plc | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp; 712 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;2070 | &nbsp;&nbsp; 1998 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp. | 1.200% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp; 1637 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Phoenix Group Holdings plc | 6.625% | 12/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp; 937 |
|  | &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 5.354% | &nbsp;&nbsp;&nbsp;&nbsp;12/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp; 877 |
|  | &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 3.100% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Progressive Corp. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1317 | &nbsp;&nbsp; 1208 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Protective Life Global Funding | 0.473% | &nbsp;&nbsp;&nbsp;&nbsp;1/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Protective Life Global Funding | 1.618% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp; 599 |
|  | &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/45 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 106 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Reliance Standard Life Global Funding II | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;9/19/23 | &nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp;&nbsp; 1104 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc. | 2.875% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Rothesay Life plc | 8.000% | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp; 805 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;7/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;2437 | &nbsp;&nbsp; 2352 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 3.970% | &nbsp;&nbsp;&nbsp;&nbsp;7/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp; 1233 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727 | &nbsp;&nbsp;&nbsp; 676 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1623 | &nbsp;&nbsp; 1548 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.600% | &nbsp;&nbsp;&nbsp;&nbsp;1/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 842 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 871 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp; 806 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 4.784% | 12/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830 | &nbsp;&nbsp; 827 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp; 1976 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;1605 | &nbsp;&nbsp;&nbsp; 1414 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;11/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp; 435 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 476 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 4.240% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp; 4374 |
|  | &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;1410 | &nbsp;&nbsp; 1371 |
|  | &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;1315 | &nbsp;&nbsp; 1252 |
|  | &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 3.373% | &nbsp;&nbsp;&nbsp;&nbsp;1/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;2227 | &nbsp;&nbsp; 2227 |
|  | &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 4.796% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp; 806 |
|  | &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 1.532% | &nbsp;&nbsp;&nbsp;&nbsp;8/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp; 990 |
|  | &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 6.833% | 11/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1770 | &nbsp;&nbsp; 1794 |
|  | &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 1.673% | &nbsp;&nbsp;&nbsp;&nbsp;6/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;2085 | &nbsp;&nbsp;&nbsp; 1768 |
|  | &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 2.469% | &nbsp;&nbsp;&nbsp;&nbsp;1/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;1498 | &nbsp;&nbsp; 1281 |
|  | &nbsp;&nbsp;&nbsp;Santander UK plc | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;1730 | &nbsp;&nbsp; 1709 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Scottish Widows Ltd. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/16/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911 | &nbsp;&nbsp;&nbsp; 1102 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Security Benefit Global Funding | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 380 |
|  | &nbsp;&nbsp;&nbsp;Sixth Street Specialty Lending Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 263 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Standard Chartered plc, 3M Australian Bank Bill Rate + 1.850% | 5.096% | &nbsp;&nbsp;&nbsp;&nbsp;6/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp; 511 |
|  | &nbsp;&nbsp;&nbsp;State Street Corp. | 2.354% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1861 | &nbsp;&nbsp; 1775 |
|  | &nbsp;&nbsp;&nbsp;State Street Corp. | 5.751% | &nbsp;&nbsp;&nbsp;&nbsp;11/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 411 |
|  | &nbsp;&nbsp;&nbsp;State Street Corp. | 5.820% | &nbsp;&nbsp;&nbsp;&nbsp;11/4/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp; 475 |
|  | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.696% | &nbsp;&nbsp;&nbsp;&nbsp;7/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;5096 | &nbsp;&nbsp; 4892 |
|  | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.448% | &nbsp;&nbsp;&nbsp;&nbsp;9/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.784% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp; 1494 |
|  | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.632% | &nbsp;&nbsp;&nbsp;&nbsp;7/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;1830 | &nbsp;&nbsp;&nbsp; 1676 |
|  | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 1.402% | &nbsp;&nbsp;&nbsp;&nbsp;9/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 1475 |
|  | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.446% | &nbsp;&nbsp;&nbsp;&nbsp;1/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp; 635 |
|  | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.174% | &nbsp;&nbsp;&nbsp;&nbsp;1/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 531 |
|  | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.364% | &nbsp;&nbsp;&nbsp;&nbsp;7/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 277 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc., 3M Australian Bank Bill Rate + 1.250% | 4.191% | 10/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp; 601 |
|  | &nbsp;&nbsp;&nbsp;SVB Financial Group | 1.800% | 10/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 877 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB | 0.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 656 |
|  | &nbsp;&nbsp;&nbsp;Synchrony Bank | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 888 |
|  | &nbsp;&nbsp;&nbsp;Synchrony Financial | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp; 801 |
|  | &nbsp;&nbsp;&nbsp;Synchrony Financial | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;1006 | &nbsp;&nbsp; 967 |
|  | &nbsp;&nbsp;&nbsp;Synchrony Financial | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp; 678 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 0.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 4.285% | &nbsp;&nbsp;&nbsp;&nbsp;9/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;2370 | &nbsp;&nbsp; 2341 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 3.766% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp; 1165 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 501 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;1945 | &nbsp;&nbsp;&nbsp; 1740 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp; 2710 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;3085 | &nbsp;&nbsp; 2825 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 4.108% | &nbsp;&nbsp;&nbsp;&nbsp;6/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp; 1545 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 4.693% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 147 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank, 3M Australian Bank Bill Rate + 1.000% | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;7/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp; 354 |
|  | &nbsp;&nbsp;&nbsp;Trinity Acquisition plc | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;12/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp; 516 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1180 | &nbsp;&nbsp; 1095 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp; 611 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 2.636% | &nbsp;&nbsp;&nbsp;&nbsp;9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp; 533 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp; 672 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.267% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 738 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 5.727% | 10/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1980 | &nbsp;&nbsp;&nbsp; 2018 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 4.548% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp; 4703 |
| <sup>12,13</sup> | &nbsp;&nbsp;&nbsp;Washington Mutual Bank / Debt not acquired by JPMorgan | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp; — |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 675 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;2707 | &nbsp;&nbsp; 2594 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;9/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;2751 | &nbsp;&nbsp; 2646 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.406% | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;4685 | &nbsp;&nbsp; 4437 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.164% | &nbsp;&nbsp;&nbsp;&nbsp;2/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;2290 | &nbsp;&nbsp;&nbsp; 2137 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp; 2058 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.188% | &nbsp;&nbsp;&nbsp;&nbsp;4/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;2190 | &nbsp;&nbsp; 2038 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;2995 | &nbsp;&nbsp; 2894 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.540% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 834 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 10/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;2140 | &nbsp;&nbsp; 1978 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 1.375% | 10/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;1410 | &nbsp;&nbsp; 1354 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.196% | &nbsp;&nbsp;&nbsp;&nbsp;6/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1392 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 771 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.526% | &nbsp;&nbsp;&nbsp;&nbsp;3/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp; 2109 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.584% | &nbsp;&nbsp;&nbsp;&nbsp;5/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;2715 | &nbsp;&nbsp;&nbsp; 2515 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.393% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;1019 | &nbsp;&nbsp; 899 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.808% | &nbsp;&nbsp;&nbsp;&nbsp;7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp; 2106 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp; 1211 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.894% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/30 | &nbsp;&nbsp;&nbsp;&nbsp;1966 | &nbsp;&nbsp; 1802 |
|  | &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 4.322% | 11/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp; 867 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Westpac Banking Corp., 3M Australian Bank Bill Rate + 1.400% | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Westpac Banking Corp., 3M Australian Bank Bill Rate + 1.550% | 4.636% | &nbsp;&nbsp;&nbsp;&nbsp;1/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Westpac Banking Corp., 3M Australian Bank Bill Rate + 1.800% | 5.010% | &nbsp;&nbsp;&nbsp;&nbsp;6/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1074 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Westpac Banking Corp., 3M Australian Bank Bill Rate + 1.980% | 5.090% | &nbsp;&nbsp;&nbsp;&nbsp;8/27/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
|  | &nbsp;&nbsp;&nbsp;Willis North America Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2243 |
|  | &nbsp;&nbsp;&nbsp;Willis North America Inc. | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 580 |
|  |  |  |  |  | **614862** |
| **Health Care (6.9%)** | **Health Care (6.9%)** | **Health Care (6.9%)** | **Health Care (6.9%)** | **Health Care (6.9%)** | **Health Care (6.9%)** |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1392 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 2.600% | 11/21/24 | &nbsp;&nbsp; 7547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7226 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;3785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3690 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1163 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | 2.950% | 11/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;5245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4888 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 3.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Alcon Finance Corp. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 595 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;American Medical Systems Europe BV | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;1458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1463 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 3.450% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 673 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 542 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 899 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;11/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 578 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1263 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1978 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 3.375% | 11/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1933 |
|  | &nbsp;&nbsp;&nbsp;Baxalta Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1169 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 1.322% | 11/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;4825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4492 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 1.915% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;6085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5404 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Bayer US Finance II LLC | 3.875% | 12/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;2995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2949 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Bayer US Finance LLC | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;10/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 705 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 3.363% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;1076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;2520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2384 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 787 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1270 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.450% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;2145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2072 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 3.079% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 481 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 0.613% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 569 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1238 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.125% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2904 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 624 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1877 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 2.760% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1534 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 1.547% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 967 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;CSL UK Holdings Ltd. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1824 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 759 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;7/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1655 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 747 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1401 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1827 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 1.300% | &nbsp;&nbsp;&nbsp;&nbsp;8/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289 |
|  | &nbsp;&nbsp;&nbsp;DH Europe Finance II Sarl | 2.200% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;3035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2890 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;DH Europe Finance II Sarl | 0.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;Dignity Health | 3.812% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | 5.350% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405 |
|  | &nbsp;&nbsp;&nbsp;Encompass Health Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.550% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 657 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.600% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;4455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4482 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.650% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;3775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3830 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1890 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;2667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2584 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;3120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3012 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2406 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 809 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1690 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1225 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/27 | &nbsp;&nbsp; 1113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1071 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1051 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Highmark Inc. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;1760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1549 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 825 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1485 |
|  | &nbsp;&nbsp;&nbsp;McKesson Corp. | 3.796% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2264 |
|  | &nbsp;&nbsp;&nbsp;McKesson Corp. | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;12/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 890 |
|  | &nbsp;&nbsp;&nbsp;McKesson Corp. | 1.300% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1010 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Medtronic Global Holdings SCA | 2.625% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;1535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1363 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Organon & Co. / Organon Foreign Debt Co.-Issuer BV | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | 0.850% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1776 |
|  | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 2.746% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Roche Holdings Inc. | 2.132% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Roche Holdings Inc. | 2.314% | &nbsp;&nbsp;&nbsp;&nbsp;3/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;1490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1357 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1164 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 849 |
|  | &nbsp;&nbsp;&nbsp;Shire Acquisitions Investments Ireland DAC | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;4970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4672 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 823 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 0.797% | 10/18/23 | &nbsp;&nbsp;&nbsp;&nbsp;2940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2845 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 1.215% | 10/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;5315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4988 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 4.800% | 11/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1367 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;2335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2390 |
|  | &nbsp;&nbsp;&nbsp;Utah Acquisition Sub Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2579 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1834 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 892 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2282 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 4.500% | 11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1194 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 5.400% | 11/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 954 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 730 |
|  |  |  |  |  | **148030** |
| **Industrials (5.7%)** | **Industrials (5.7%)** | **Industrials (5.7%)** | **Industrials (5.7%)** | **Industrials (5.7%)** | **Industrials (5.7%)** |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Air Canada | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;American Airlines Inc. | 11.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;American Airlines Inc. / AAdvantage Loyalty IP Ltd. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 231 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;AP Moller - Maersk A/S | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 771 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Aurizon Network Pty Ltd. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 4.508% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;4882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4866 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 1.433% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/24 | &nbsp;&nbsp; 7850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7509 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 847 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.850% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;6990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6934 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.600% | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348 | &nbsp;&nbsp; 324 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp; 966 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.196% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/26 | 11989 | &nbsp;&nbsp;&nbsp; 10897 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp; 849 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Brisbane Airport Corp. Pty Ltd. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 264 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 7.000% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471 | &nbsp;&nbsp; 503 |
|  | &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 473 |
|  | &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp; 316 |
|  | &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;12/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp; 971 |
|  | &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945 | &nbsp;&nbsp; 904 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Cargo Aircraft Management Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.242% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp; 579 |
|  | &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;1/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;1280 | &nbsp;&nbsp; 1282 |
|  | &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 530 |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial Capital LLC | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2527 | &nbsp;&nbsp; 2300 |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial Capital LLC | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1670 | &nbsp;&nbsp;&nbsp; 1476 |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial NV | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp; 338 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Dover Corp. | 3.150% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Embraer Overseas Ltd. | 5.696% | &nbsp;&nbsp;&nbsp;&nbsp;9/16/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 0.875% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 368 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 1.800% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 437 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1660 | &nbsp;&nbsp;&nbsp; 1610 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp; 614 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 957 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 2.625% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 455 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Heathrow Funding Ltd. | 1.500% | 10/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Heathrow Funding Ltd. | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;12/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp; 352 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 4.849% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;5250 | &nbsp;&nbsp; 5268 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp; 4063 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | 3.844% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;2105 | &nbsp;&nbsp; 2028 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | 3.483% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1175 | &nbsp;&nbsp; 1067 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp; 1845 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;1130 | &nbsp;&nbsp;&nbsp; 1113 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 1.300% | 10/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp; 1110 | &nbsp;&nbsp;&nbsp; 1012 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp; 2553 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp; 297 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp; 660 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 3.832% | &nbsp;&nbsp;&nbsp;&nbsp;4/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 3.850% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp; 745 |
|  | &nbsp;&nbsp;&nbsp;Lennox International Inc. | 1.350% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Lennox International Inc. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.950% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp; 1028 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp; 505 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.100% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp;&nbsp; 1147 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Lonsdale Finance Pty Ltd. | 2.450% | 11/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp; 418 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;6802 | &nbsp;&nbsp; 6777 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Misc Capital Two Labuan Ltd. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp; 1383 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Misc Capital Two Labuan Ltd. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 187 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;New Terminal Financing Co. Pty Ltd., 3M Australian Bank Bill Rate + 1.450% | 4.357% | &nbsp;&nbsp;&nbsp;&nbsp;7/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 262 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp; 487 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 2.930% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1987 | &nbsp;&nbsp; 1907 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 2.056% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;3585 | &nbsp;&nbsp; 3357 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Pacific National Finance Pty Ltd. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp; 751 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2650 | &nbsp;&nbsp; 2593 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1370 | &nbsp;&nbsp; 1331 |
|  | &nbsp;&nbsp;&nbsp;Quanta Services Inc. | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 322 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;3365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3291 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;8/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;3180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3108 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 918 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 0.875% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 3.375% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 466 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Rolls-Royce plc | 3.625% | 10/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Rolls-Royce plc | 5.750% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;2405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2356 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 626 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 807 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Siemens Financieringsmaatschappij NV | 0.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;1189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1130 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Siemens Financieringsmaatschappij NV | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1824 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;1265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1269 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 3.000% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1552 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 3.450% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;TransDigm Inc. | 8.000% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 481 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;TransDigm Inc. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;TransDigm Inc. | 5.500% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 693 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 646 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1126 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 452 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class B Series 2020-1 Pass Through Trust | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;United Airlines Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;United Rentals North America Inc. | 3.875% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205 |
| <sup>3,13</sup> | &nbsp;&nbsp;&nbsp;US Airways Series 2001-1C Pass Through Trust | 7.346% | &nbsp;&nbsp;&nbsp;&nbsp;9/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 0.750% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 707 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 3.150% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;WSO Finance Pty Ltd. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/14/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 |
|  |  |  |  |  | **122544** |
| **Materials (1.9%)** | **Materials (1.9%)** | **Materials (1.9%)** | **Materials (1.9%)** | **Materials (1.9%)** | **Materials (1.9%)** |
|  | &nbsp;&nbsp;&nbsp;Albemarle Corp. | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489 |
|  | &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Arconic Corp. | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Arconic Corp. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Ardagh Packaging Finance plc / Ardagh Holdings USA Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Ardagh Packaging Finance plc / Ardagh Holdings USA Inc. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | 0.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 608 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Ball Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Ball Corp. | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Berry Global Inc. | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2248 |
|  | &nbsp;&nbsp;&nbsp;Berry Global Inc. | 1.570% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;3717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3319 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Berry Global Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442 |
|  | &nbsp;&nbsp;&nbsp;Berry Global Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Berry Global Inc. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 691 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Berry Global Inc. Term Loan 1M USD LIBOR + 1.750% | 6.024% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Big River Steel LLC / BRS Finance Corp. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;1/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Canpack SA / Canpack US LLC | 3.875% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 5.900% | &nbsp;&nbsp;&nbsp;&nbsp;7/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;1240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1239 |
|  | &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 6.165% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Chevron Phillips Chemical Co. LLC / Chevron Phillips Chemical Co. LP | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1123 |
|  | &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 4.550% | 11/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 781 |
|  | &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | 4.493% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2057 |
|  | &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 |
|  | &nbsp;&nbsp;&nbsp;EI du Pont de Nemours and Co. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Element Solutions Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;FMC Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Freeport Indonesia PT | 4.763% | &nbsp;&nbsp;&nbsp;&nbsp;4/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
|  | &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.550% | 11/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 780 |
|  | &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 0.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2223 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;2375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2170 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2273 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;1770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1588 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC | 0.821% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 447 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Hudbay Minerals Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Indonesia Asahan Aluminium Persero PT | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 772 |
|  | &nbsp;&nbsp;&nbsp;Indonesia Asahan Aluminium Persero PT | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;INEOS Quattro Finance 2 plc | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Ingevity Corp. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;LYB International Finance III LLC | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1617 |
|  | &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1218 |
|  | &nbsp;&nbsp;&nbsp;Nucor Corp. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293 |
|  | &nbsp;&nbsp;&nbsp;Nucor Corp. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 774 |
|  | &nbsp;&nbsp;&nbsp;Nucor Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.900% | &nbsp;&nbsp;&nbsp;&nbsp;11/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1015 |
|  | &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;PPG Industries Inc. | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 747 |
|  | &nbsp;&nbsp;&nbsp;PPG Industries Inc. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 847 |
|  | &nbsp;&nbsp;&nbsp;RPM International Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1268 |
|  | &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 944 |
|  | &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 2.800% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 423 |
|  | &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 496 |
|  | &nbsp;&nbsp;&nbsp;WRKCo Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 896 |
|  | &nbsp;&nbsp;&nbsp;WRKCo Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261 |
|  | &nbsp;&nbsp;&nbsp;WRKCo Inc. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
|  |  |  |  |  | **40588** |
| **Real Estate (4.0%)** | **Real Estate (4.0%)** | **Real Estate (4.0%)** | **Real Estate (4.0%)** | **Real Estate (4.0%)** | **Real Estate (4.0%)** |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Akelius Residential Property AB | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 872 |
|  | &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 |
|  | &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 0.600% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;4060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3869 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 905 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1800 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1969 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1032 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 1.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1974 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.375% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 973 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;American Tower Corp. | 0.450% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 515 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1067 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;American Tower Corp. | 0.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Aroundtown SA | 0.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Aroundtown SA | 3.375% | Perpetual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 559 |
|  | &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.900% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Blackstone Property Partners Europe Holdings Sarl | 0.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/12/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 845 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Blackstone Property Partners Europe Holdings Sarl | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 268 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties LP | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties LP | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 516 |
|  | &nbsp;&nbsp;&nbsp;Brandywine Operating Partnership LP | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;Brandywine Operating Partnership LP | 3.950% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2335 | &nbsp;&nbsp; 2267 |
|  | &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1041 | &nbsp;&nbsp; 999 |
|  | &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 309 |
|  | &nbsp;&nbsp;&nbsp;Camden Property Trust | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1518 | &nbsp;&nbsp; 1498 |
|  | &nbsp;&nbsp;&nbsp;Camden Property Trust | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Corporate Office Properties LP | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1913 | &nbsp;&nbsp; 1691 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;2430 | &nbsp;&nbsp; 2348 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 1.350% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp; 964 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1530 | &nbsp;&nbsp; 1494 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp; 2091 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 1.050% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1435 | &nbsp;&nbsp; 1242 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp; 519 |
|  | &nbsp;&nbsp;&nbsp;CubeSmart LP | 4.000% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 231 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Digital Dutch Finco BV | 0.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp; 401 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Digital Euro Finco LLC | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Digital Realty Trust LP | 5.550% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp; 1460 |
|  | &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 255 |
|  | &nbsp;&nbsp;&nbsp;Equinix Inc. | 2.900% | 11/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp; 439 |
|  | &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.800% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 386 |
|  | &nbsp;&nbsp;&nbsp;ERP Operating LP | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 769 |
|  | &nbsp;&nbsp;&nbsp;ERP Operating LP | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp; 227 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Fastighets AB Balder | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 271 |
|  | &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724 | &nbsp;&nbsp;&nbsp; 715 |
|  | &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp; 295 |
|  | &nbsp;&nbsp;&nbsp;Healthcare Realty Holdings LP Co. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Healthcare Trust of America Holdings LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp; 645 |
|  | &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 1.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 607 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Heimstaden Bostad AB | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 446 |
|  | &nbsp;&nbsp;&nbsp;Highwoods Realty LP | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762 | &nbsp;&nbsp; 704 |
|  | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp; 352 |
|  | &nbsp;&nbsp;&nbsp;IIP Operating Partnership LP | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 3.450% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp; 1215 |
|  | &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp; 336 |
|  | &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp; 857 |
|  | &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1770 | &nbsp;&nbsp; 1696 |
|  | &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp; 295 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Kojamo OYJ | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 152 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Logicor Financing Sarl | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Logicor Financing Sarl | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 4.000% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 1.100% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp; 666 |
|  | &nbsp;&nbsp;&nbsp;MPT Operating Partnership LP / MPT Finance Corp. | 5.000% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
|  | &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp; 787 |
|  | &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 4.000% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp; 593 |
|  | &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp; 520 |
|  | &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401 | &nbsp;&nbsp; 390 |
|  | &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp; 952 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Ontario Teachers' Cadillac Fairview Properties Trust | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Prologis LP | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp; 408 |
|  | &nbsp;&nbsp;&nbsp;Prologis LP | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp; 520 |
|  | &nbsp;&nbsp;&nbsp;Prologis LP | 3.375% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 374 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Public Storage | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;11/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;1305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1296 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 924 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2529 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;3380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3364 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.125% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1356 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Realty Income Corp. | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 396 |
|  | &nbsp;&nbsp;&nbsp;Regency Centers LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Sabra Health Care LP | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 722 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1045 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1549 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1369 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1539 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.250% | 11/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 749 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group LP | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 |
|  | &nbsp;&nbsp;&nbsp;UDR Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Uniti Group LP / Uniti Fiber Holdings Inc. / CSL Capital LLC | 7.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1259 |
|  | &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582 |
|  | &nbsp;&nbsp;&nbsp;Ventas Realty LP | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369 |
|  | &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.250% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 708 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;VICI Properties LP / VICI Note Co. Inc. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;VICI Properties LP / VICI Note Co. Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;Vornado Realty LP | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Wea Finance LLC / Westfield UK & Europe Finance plc | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 199 |
|  | &nbsp;&nbsp;&nbsp;Welltower Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 822 |
|  | &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;2218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2161 |
|  | &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Westfield America Management Ltd. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 |
|  |  |  |  |  | **86030** |
| **Technology (4.7%)** | **Technology (4.7%)** | **Technology (4.7%)** | **Technology (4.7%)** | **Technology (4.7%)** | **Technology (4.7%)** |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 452 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;9/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 869 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1803 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Corp. / Broadcom Cayman Finance Ltd. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Corp. / Broadcom Cayman Finance Ltd. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1486 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.625% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2811 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.150% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1479 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.459% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 781 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Clarivate Science Holdings Corp. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 829 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 5.850% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/25 | &nbsp;&nbsp; 2010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2035 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 6.020% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;5720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5839 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 6.100% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 935 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;DXC Technology Co. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;DXC Technology Co. | 1.800% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 670 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Entegris Escrow Corp. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;Equifax Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;2976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2839 |
|  | &nbsp;&nbsp;&nbsp;Equifax Inc. | 2.600% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1490 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 0.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 890 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 |
|  | &nbsp;&nbsp;&nbsp;Fiserv Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;5885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5676 |
|  | &nbsp;&nbsp;&nbsp;Fiserv Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1784 |
|  | &nbsp;&nbsp;&nbsp;Global Payments Inc. | 1.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1107 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Global Payments Inc. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;2717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2369 |
|  | &nbsp;&nbsp;&nbsp;Global Payments Inc. | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;2875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2511 |
|  | &nbsp;&nbsp;&nbsp;HP Inc. | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;6/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;2920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2733 |
|  | &nbsp;&nbsp;&nbsp;HP Inc. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;3275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2872 |
|  | &nbsp;&nbsp;&nbsp;HP Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 594 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3077 |
|  | &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;3960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3769 |
|  | &nbsp;&nbsp;&nbsp;Juniper Networks Inc. | 1.200% | 12/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 617 |
|  | &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;2360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2341 |
|  | &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC | 5.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 516 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1009 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.950% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1342 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;4228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3987 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1491 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 5.800% | 11/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1359 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;4191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3756 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;3202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2944 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1186 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.250% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Qorvo Inc. | 1.750% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 406 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1095 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 3.800% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1973 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Sabre GLBL Inc. | 7.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Skyworks Solutions Inc. | 1.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp; 7875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6932 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;SS&C Technologies Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | 1.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2369 |
|  | &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;11/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1062 |
|  | &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1732 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Visa Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 959 |
|  | &nbsp;&nbsp;&nbsp;Visa Inc. | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427 |
|  | &nbsp;&nbsp;&nbsp;VMware Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;4929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4833 |
|  | &nbsp;&nbsp;&nbsp;VMware Inc. | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;2460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2143 |
|  | &nbsp;&nbsp;&nbsp;Workday Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 814 |
|  |  |  |  |  | **101073** |
| **Utilities (3.8%)** | **Utilities (3.8%)** | **Utilities (3.8%)** | **Utilities (3.8%)** | **Utilities (3.8%)** | **Utilities (3.8%)** |
|  | &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;AGI Finance Pty Ltd., 3M Australian Bank Bill Rate + 1.000% | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1633 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1013 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 2.031% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1232 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 515 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Australian Gas Networks Ltd., 3M Australian Bank Bill Rate + 0.400% | 3.651% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 336 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582 |
|  | &nbsp;&nbsp;&nbsp;Black Hills Corp. | 1.037% | &nbsp;&nbsp;&nbsp;&nbsp;8/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 933 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Calpine Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 556 |
|  | &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1386 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;DBNGP Finance Co. Pty Ltd. | 4.225% | &nbsp;&nbsp;&nbsp;&nbsp;5/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1479 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1059 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp;DTE Energy Co. | 1.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1019 |
|  | &nbsp;&nbsp;&nbsp;DTE Energy Co. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1143 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas NC Storm Funding LLC | 1.679% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp; 868 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509 | &nbsp;&nbsp; 470 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 696 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp; 815 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;E.ON International Finance BV | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;12/6/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 122 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;East Ohio Gas Co. | 1.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Eastern Energy Gas Holdings LLC | 3.600% | 12/15/24 | &nbsp;&nbsp; 574 | &nbsp;&nbsp; 557 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Electricite de France SA | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Energias de Portugal SA | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 311 |
|  | &nbsp;&nbsp;&nbsp;Entergy Arkansas LLC | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp; 663 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1760 | &nbsp;&nbsp; 1568 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;3170 | &nbsp;&nbsp; 2951 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp; 503 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp; 1092 |
|  | &nbsp;&nbsp;&nbsp;Evergy Inc. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1425 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647 | &nbsp;&nbsp; 595 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 361 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 659 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1435 | &nbsp;&nbsp; 1322 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 789 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp; 698 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 475 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1363 | &nbsp;&nbsp; 1253 |
|  | &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | 1.600% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 328 |
|  | &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp; 782 |
|  | &nbsp;&nbsp;&nbsp;ITC Holdings Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 281 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;ITC Holdings Corp. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp; 435 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Mid-Atlantic Interstate Transmission LLC | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; 294 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;National Grid Electricity Distribution plc | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;11/6/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp;&nbsp; 511 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;National Grid Electricity Transmission plc | 0.190% | &nbsp;&nbsp;&nbsp;&nbsp;1/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp; 393 |
|  | &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp; 666 |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp; 770 |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 986 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;NextEra Energy Operating Partners LP | 3.875% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 41 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;NRG Energy Inc. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628 | &nbsp;&nbsp; 560 |
|  | &nbsp;&nbsp;&nbsp;NRG Energy Inc. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 3.250% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp; 274 |
|  | &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1375 | &nbsp;&nbsp; 1292 |
|  | &nbsp;&nbsp;&nbsp;NTPC Ltd. | 4.375% | 11/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1520 | &nbsp;&nbsp; 1472 |
|  | &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 0.550% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp; 276 |
|  | &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp; 487 |
|  | &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;3312 | &nbsp;&nbsp; 3080 |
|  | &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp; 331 |
|  | &nbsp;&nbsp;&nbsp;PacifiCorp | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 575 |
|  | &nbsp;&nbsp;&nbsp;PECO Energy Co. | 3.150% | 10/15/25 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;PG&E Recovery Funding LLC | 5.045% | &nbsp;&nbsp;&nbsp;&nbsp;7/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp; 1905 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 264 |
|  | &nbsp;&nbsp;&nbsp;Public Service Enterprise Group Inc. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;2295 | &nbsp;&nbsp;&nbsp; 2219 |
|  | &nbsp;&nbsp;&nbsp;Public Service Enterprise Group Inc. | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1755 | &nbsp;&nbsp;&nbsp; 1576 |
|  | &nbsp;&nbsp;&nbsp;Public Service Enterprise Group Inc. | 5.850% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp; 2153 |
|  | &nbsp;&nbsp;&nbsp;Puget Energy Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp; 375 |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Rayburn Country Securitization LLC | 2.307% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Sempra Energy | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 998 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630 |
|  | &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. | 4.475% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1106 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;10/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 534 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. | 5.113% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1396 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Southern Power Co. | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 |
|  | &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 923 |
|  | &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1378 |
|  | &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;7/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 559 |
|  | &nbsp;&nbsp;&nbsp;Union Electric Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 498 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;United Energy Distribution Pty Ltd. | 3.850% | 10/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 535 |
| <sup>7,9</sup> | &nbsp;&nbsp;&nbsp;Victoria Power Networks Finance Pty Ltd., 3M Australian Bank Bill Rate + 0.500% | 3.570% | &nbsp;&nbsp;&nbsp;&nbsp;8/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 608 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 516 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 649 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.950% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1523 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 758 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 526 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/27 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1374 |
|  | &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 921 |
|  | &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 830 |
|  | &nbsp;&nbsp;&nbsp;Wisconsin Public Service Corp. | 5.350% | 11/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1011 |
|  | &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 692 |
|  | &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 855 |
|  |  |  |  |  | **82261** |
| **Total Corporate Bonds (Cost $1,778,210)** | **Total Corporate Bonds (Cost $1,778,210)** | **Total Corporate Bonds (Cost $1,778,210)** | **Total Corporate Bonds (Cost $1,778,210)** | **Total Corporate Bonds (Cost $1,778,210)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1668697** |
| **Floating Rate Loan Interests (0.1%)** | **Floating Rate Loan Interests (0.1%)** | **Floating Rate Loan Interests (0.1%)** | **Floating Rate Loan Interests (0.1%)** | **Floating Rate Loan Interests (0.1%)** | **Floating Rate Loan Interests (0.1%)** |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;AAdvantage Loyalty IP Ltd. Term Loan, 3M USD LIBOR + 4.750% | 8.993% | &nbsp;&nbsp;&nbsp;&nbsp;4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;CDK Global Inc. Term Loan B, TSFR3M + 4.500% | 9.080% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Churchill Downs Inc. Term Loan B, 1M USD LIBOR + 2.000% | 6.390% | 12/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;DaVita Inc. Term Loan B, 1M USD LIBOR +1.750% | 5.623% | 11/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;DirecTV Financing LLC Term Loan, 1M USD LIBOR + 5.000% | 9.384% | &nbsp;&nbsp;&nbsp;&nbsp;8/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Hilton Worldwide Finance LLC Term Loan B-2, 1M USD LIBOR + 1.750% | 6.173% | &nbsp;&nbsp;&nbsp;&nbsp;6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 199 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;McAfee Corp. Term Loan B, TSFR1M + 3.750% | 7.974% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Medline Borrower LP Term Loan B, 1M USD LIBOR + 3.250% | 7.634% | 10/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;SBA Senior Finance II LLC. Term Loan B, 1M USD LIBOR + 1.750% | 6.140% | &nbsp;&nbsp;&nbsp;&nbsp;4/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Setanta Aircraft Leasing DAC Term Loan B, 3M USD LIBOR + 2.000% | 6.730% | &nbsp;&nbsp;&nbsp;&nbsp;11/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1038 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;SkyMiles IP Ltd. Term Loan B, 3M USD LIBOR + 3.750% | 7.993% | 10/20/27 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Spirit Aerosystems, Inc. Term Loan B, TSFR1M + 4.500% | 8.823% | &nbsp;&nbsp;&nbsp;&nbsp;1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;SS&C Technologies Inc. Term Loan B-6, TSFR1M + 2.250% | 6.673% | &nbsp;&nbsp;&nbsp;&nbsp;3/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp; 26 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;SS&C Technologies Inc. Term Loan B-7, TSFR1M + 2.250% | 6.673% | &nbsp;&nbsp;&nbsp;&nbsp;3/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts Inc. Term Loan B, 1M USD LIBOR + 1.750% | 6.134% | &nbsp;&nbsp;&nbsp;&nbsp;5/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp; 88 |
| **Total Floating Rate Interests (Cost $2,003)** | **Total Floating Rate Interests (Cost $2,003)** | **Total Floating Rate Interests (Cost $2,003)** | **Total Floating Rate Interests (Cost $2,003)** | **Total Floating Rate Interests (Cost $2,003)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1995** |
| **Sovereign Bonds (1.4%)** | **Sovereign Bonds (1.4%)** | **Sovereign Bonds (1.4%)** | **Sovereign Bonds (1.4%)** | **Sovereign Bonds (1.4%)** | **Sovereign Bonds (1.4%)** |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Arab Petroleum Investments Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/18/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp; 438 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Banque Ouest Africaine de Developpement | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 215 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;CDP Financial Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp; 653 |
|  | &nbsp;&nbsp;&nbsp;Corp. Andina de Fomento | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/12/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp; 653 |
|  | &nbsp;&nbsp;&nbsp;Corp. Andina de Fomento | 1.250% | 10/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;2292 | &nbsp;&nbsp;&nbsp; 2129 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Corp. Financiera de Desarrollo SA | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Dominican Republic | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp; 509 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Dominican Republic | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 437 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of India | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484 | &nbsp;&nbsp; 475 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Fondo MIVIVIENDA SA | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689 | &nbsp;&nbsp; 651 |
| <sup>6,8</sup> | &nbsp;&nbsp;&nbsp;Kingdom of Morocco | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596 | &nbsp;&nbsp; 579 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Kingdom of Morocco | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; 290 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Korea Electric Power Corp. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Korea National Oil Corp. | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;10/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 532 |
| <sup>8,14</sup> | &nbsp;&nbsp;&nbsp;MFB Magyar Fejlesztesi Bank Zrt | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541 | &nbsp;&nbsp; 522 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Perusahaan Penerbit SBSN Indonesia III | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp; 465 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 246 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Republic of Chile | 0.100% | &nbsp;&nbsp;&nbsp;&nbsp;1/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 521 |
|  | &nbsp;&nbsp;&nbsp;Republic of Colombia | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp; 461 |
|  | &nbsp;&nbsp;&nbsp;Republic of Croatia | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/4/23 | &nbsp;&nbsp;&nbsp;&nbsp;1988 | &nbsp;&nbsp; 1988 |
|  | &nbsp;&nbsp;&nbsp;Republic of Hungary | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/21/23 | &nbsp;&nbsp;&nbsp;&nbsp;2601 | &nbsp;&nbsp;&nbsp; 2601 |
|  | &nbsp;&nbsp;&nbsp;Republic of Hungary | 5.750% | 11/22/23 | &nbsp;&nbsp;&nbsp;&nbsp;2152 | &nbsp;&nbsp;&nbsp; 2155 |
|  | &nbsp;&nbsp;&nbsp;Republic of Hungary | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp; 1217 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Republic of Hungary | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 951 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Republic of Korea | 0.000% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;1362 | &nbsp;&nbsp;&nbsp; 1317 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 7.350% | &nbsp;&nbsp;&nbsp;&nbsp;7/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;1096 | &nbsp;&nbsp;&nbsp; 1149 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 2.844% | &nbsp;&nbsp;&nbsp;&nbsp;6/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp; 954 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 2.783% | &nbsp;&nbsp;&nbsp;&nbsp;1/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333 | &nbsp;&nbsp;&nbsp; 276 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Republic of Philippines | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/23 | &nbsp;&nbsp;&nbsp;&nbsp;1199 | &nbsp;&nbsp; 1277 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Republic of Philippines | 0.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 277 |
|  | &nbsp;&nbsp;&nbsp;Republic of Poland | 5.500% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp; 452 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Republic of Serbia | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;1589 | &nbsp;&nbsp; 1456 |
|  | &nbsp;&nbsp;&nbsp;Republic of Uzbekistan | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Romania | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/22/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 368 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Romania | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp; 313 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Romania | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp; 489 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Romania | 5.250% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp; 705 |
|  | &nbsp;&nbsp;&nbsp;Romania | 5.250% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp; 291 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Romania | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp; 124 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Romania | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp; 161 |
| <sup>6,8</sup> | &nbsp;&nbsp;&nbsp;Romania | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/14/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp; 66 |
|  | &nbsp;&nbsp;&nbsp;Sharjah Sukuk Program Ltd. | 3.854% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp; 734 |
| **Total Sovereign Bonds (Cost $32,729)** | **Total Sovereign Bonds (Cost $32,729)** | **Total Sovereign Bonds (Cost $32,729)** | **Total Sovereign Bonds (Cost $32,729)** | **Total Sovereign Bonds (Cost $32,729)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30214** |
| **Taxable Municipal Bonds (0.0%)** | **Taxable Municipal Bonds (0.0%)** | **Taxable Municipal Bonds (0.0%)** | **Taxable Municipal Bonds (0.0%)** | **Taxable Municipal Bonds (0.0%)** | **Taxable Municipal Bonds (0.0%)** |
| <sup>15</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 7.425% | &nbsp;&nbsp;&nbsp;&nbsp;2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 457 |
|  | &nbsp;&nbsp;&nbsp;New York Transportation Development Corp. Miscellaneous Revenue | 4.248% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 149 |
| **Total Taxable Municipal Bonds (Cost $665)** | **Total Taxable Municipal Bonds (Cost $665)** | **Total Taxable Municipal Bonds (Cost $665)** | **Total Taxable Municipal Bonds (Cost $665)** | **Total Taxable Municipal Bonds (Cost $665)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**606** |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | Coupon |  | &nbsp;&nbsp;Shares | Market<br> Value• ($000) |
| **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** | **Temporary Cash Investments (0.7%)** |
| **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** | **Money Market Fund (0.7%)** |
| <sup>16</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund **(Cost** $**15,569**) | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund **(Cost** $**15,569**) | 4.334% |  | 155703 | &nbsp;&nbsp; **15569** |
|  |  | Counterparty | Expiration<br> Date | Exercise<br> Rate | &nbsp;&nbsp;Notional<br> Amount on<br> Underlying<br> Swap<br> ($000) |  |
| **Options Purchased (0.0%)** | **Options Purchased (0.0%)** | **Options Purchased (0.0%)** | **Options Purchased (0.0%)** | **Options Purchased (0.0%)** | **Options Purchased (0.0%)** | **Options Purchased (0.0%)** |
| **Over-the-Counter Swaptions (0.0%)** | **Over-the-Counter Swaptions (0.0%)** | **Over-the-Counter Swaptions (0.0%)** | **Over-the-Counter Swaptions (0.0%)** | **Over-the-Counter Swaptions (0.0%)** | **Over-the-Counter Swaptions (0.0%)** | **Over-the-Counter Swaptions (0.0%)** |
| **Call Swaptions** | **Call Swaptions** | **Call Swaptions** | **Call Swaptions** | **Call Swaptions** | **Call Swaptions** | **Call Swaptions** |
|  | &nbsp;&nbsp;&nbsp;2-Year Interest Rate Swap, Pays 3M USD LIBOR Quarterly, Receives 0.603% Semiannually | NGFP | 1/13/23 | &nbsp;&nbsp;&nbsp;&nbsp;0.603% | &nbsp;&nbsp; 19049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp;2-Year Interest Rate Swap, Pays 3M USD LIBOR Quarterly, Receives 0.608% Semiannually | CITNA | 1/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;0.608% | &nbsp;&nbsp;&nbsp; 19102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp;2-Year Interest Rate Swap, Pays 3M USD LIBOR Quarterly, Receives 0.603% Semiannually | BNPSW | 2/3/23 | &nbsp;&nbsp;&nbsp;&nbsp;0.603% | &nbsp;&nbsp;&nbsp; 19119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Counterparty | Expiration<br> Date | Exercise<br> Rate | &nbsp;&nbsp;Notional<br> Amount on<br> Underlying<br> Swap<br> ($000) | Market<br> Value•  ($000) |
| &nbsp;&nbsp;&nbsp;2-Year Interest Rate Swap, Pays 3M USD LIBOR Quarterly, Receives 0.630% Semiannually | MSCS | 2/3/23 | &nbsp;&nbsp;&nbsp;&nbsp;0.630% | &nbsp;&nbsp; 19119 | &nbsp;&nbsp; — |
| **Total Options Purchased (Cost $338)** | **Total Options Purchased (Cost $338)** | **Total Options Purchased (Cost $338)** | **Total Options Purchased (Cost $338)** | **Total Options Purchased (Cost $338)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Total Investments (102.1%) (Cost $2,330,196)** | **Total Investments (102.1%) (Cost $2,330,196)** | **Total Investments (102.1%) (Cost $2,330,196)** | **Total Investments (102.1%) (Cost $2,330,196)** | **Total Investments (102.1%) (Cost $2,330,196)** | &nbsp;&nbsp;**2199527** |
| **Other Assets and Liabilities—Net (-2.1%)** | **Other Assets and Liabilities—Net (-2.1%)** | **Other Assets and Liabilities—Net (-2.1%)** | **Other Assets and Liabilities—Net (-2.1%)** | **Other Assets and Liabilities—Net (-2.1%)** | &nbsp;&nbsp;&nbsp;&nbsp;**(44403)** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **2155124** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. |  |  |  |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| 1 | Securities with a value of $65,000 have been segregated as initial margin for open centrally cleared swap contracts. |
| 2 | Securities with a value of $1,389,000 have been segregated as initial margin for open futures contracts. |
| 3 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
| 4 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
| 5 | Includes securities purchased on a when-issued or delayed-delivery basis for which the portfolio has not taken delivery as of December 31, 2022. |
| 6 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, the aggregate value was $184,193,000, representing 8.5% of net assets. |
| 7 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
| 8 | Face amount denominated in euro. |
| 9 | Face amount denominated in Australian dollars. |
| 10 | Face amount denominated in British pounds. |
| 11 | Guaranteed by the Republic of Azerbaijan. |
| 12 | Non-income-producing security—security in default. |
| 13 | Security value determined using significant unobservable inputs. |
| 14 | Guaranteed by the Republic of Hungary. |
| 15 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
| 16 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
|  | 1M—1-month. |
|  | 3M—3-month. |
|  | 6M—6-month. |
|  | BNPSW—BNP Paribas. |
|  | CITNA—Citibank NA. |
|  | DAC—Designated Activity Company. |
|  | LIBOR—London Interbank Offered Rate. |
|  | MSCS—Morgan Stanley Capital Services LLC. |
|  | NGFP—Nomura Global Financial Products Inc. |
|  | REMIC—Real Estate Mortgage Investment Conduits. |
|  | SOFR30A—30 Day Average Secured Overnight Financing Rate. |
|  | TSFR1M—CME Term Secured Overnight Financing Rate 1-Month. |
|  | TSFR3M—CME Term Secured Overnight Financing Rate 3-Month. |
|  | UMBS—Uniform Mortgage-Backed Securities. |
|  | USD—U.S. dollar. |

---

------

Short-Term Investment-Grade Portfolio

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| 5-Year U.S. Treasury Note | March 2023 | 996 | 107498 | &nbsp;&nbsp;(361) |
| Euro-Schatz | March 2023 | 19 | 2144 | &nbsp;&nbsp;(24) |
|  |  |  |  | &nbsp;&nbsp;(385) |
| Short Futures Contracts |  |  |  |  |
| 10-Year U.S. Treasury Note | March 2023 | (126) | (14149) | &nbsp;&nbsp;245 |
| 2-Year U.S. Treasury Note | March 2023 | (226) | (46348) | &nbsp;&nbsp;39 |
| 5-Year Government of Canada Bond | March 2023 | (6) | (494) | &nbsp;&nbsp;2 |
| AUD 10-Year Treasury Bond | March 2023 | (8) | (630) | &nbsp;&nbsp;35 |
| AUD 3-Year Treasury Bond | March 2023 | (31) | (2254) | &nbsp;&nbsp;31 |
| Euro-Bobl | March 2023 | (136) | (16851) | &nbsp;&nbsp;524 |
| Euro-Bund | March 2023 | (2) | (285) | &nbsp;&nbsp;18 |
| Long Gilt | March 2023 | (15) | (1812) | &nbsp;&nbsp;99 |
| Long U.S. Treasury Bond | March 2023 | (1) | (125) | &nbsp;&nbsp;1 |
| Ultra 10-Year U.S. Treasury Note | March 2023 | (73) | (8635) | &nbsp;&nbsp;62 |
| Ultra Long U.S. Treasury Bond | March 2023 | (9) | (1209) | &nbsp;&nbsp;6 |
|  |  |  |  | &nbsp;&nbsp;1062 |
|  |  |  |  | &nbsp;&nbsp;677 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts |
|  | Contract<br> Settlement<br> Date | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Depreciation<br> ($000) |  |
| Counterparty | Contract<br> Settlement<br> Date |  | &nbsp;&nbsp;&nbsp;Receive | &nbsp;&nbsp;&nbsp;Receive | &nbsp;&nbsp;&nbsp;Deliver | &nbsp;&nbsp;&nbsp;Deliver | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Depreciation<br> ($000) |
| BNP Paribas | 1/31/23 | &nbsp;&nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |  |
| Bank of America, N.A. | 1/11/23 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1141 | &nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;— |  |
| UBS AG | 1/11/23 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |  |
| Morgan Stanley Capital Services Inc. | 1/11/23 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |  |
| Toronto-Dominion Bank | 1/11/23 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |  |
| Morgan Stanley Capital Services Inc. | 1/11/23 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |  |
| UBS AG | 1/31/23 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;744 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;— |  |
| Bank of America, N.A. | 1/31/23 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;— |  |
| HSBC Bank plc | 1/31/23 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;707 | &nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;— |  |
| Royal Bank of Canada | 1/31/23 | &nbsp;&nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;608 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(14) |  |
| Morgan Stanley Capital Services Inc. | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;12249 | &nbsp;&nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;18112 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(99) |  |
| BNP Paribas | &nbsp;&nbsp;&nbsp;1/4/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |  |
| BNP Paribas | 1/11/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;611 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;— |  |
| Wells Fargo Bank N.A. | 1/11/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;— |  |
| Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;1/4/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |  |
| Standard Chartered Bank | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;34554 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;32542 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(357) |  |
| Bank of America, N.A. | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(11) |  |
| Credit Agricole CIB | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1) |  |
| State Street Bank & Trust Co. | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;12178 | &nbsp;&nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;9949 | &nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;— |  |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Forward Currency Contracts (continued) | Forward Currency Contracts (continued) | Forward Currency Contracts (continued) | Forward Currency Contracts (continued) | Forward Currency Contracts (continued) | Forward Currency Contracts (continued) | Forward Currency Contracts (continued) | Forward Currency Contracts (continued) | Forward Currency Contracts (continued) |
|  | Contract<br> Settlement<br> Date | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Depreciation<br> ($000) |  |
|  | Contract<br> Settlement<br> Date |  | &nbsp;&nbsp;&nbsp;Receive | &nbsp;&nbsp;&nbsp;Receive | &nbsp;&nbsp;&nbsp;Deliver | &nbsp;&nbsp;&nbsp;Deliver | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Depreciation<br> ($000) |
| HSBC Bank plc | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;— |  |
| Royal Bank of Canada | 1/31/23 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;471 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;(482) |  |

---

---

| |
|:---|
| AUD—Australian dollar. |
| CAD—Canadian dollar. |
| EUR—euro. |
| GBP—British pound. |
| JPY—Japanese yen. |
| USD—U.S. dollar. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps | Centrally Cleared Credit Default Swaps |
| Reference Entity | Termination<br> Date | &nbsp;&nbsp;&nbsp;Notional Amount<br> (000) | &nbsp;&nbsp;&nbsp;Notional Amount<br> (000) | &nbsp;&nbsp;&nbsp;Periodic<br> Premium<br> Received<br> (Paid)<sup>1</sup><br> (%) | &nbsp;&nbsp;&nbsp;Value<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> (Depreciation)<br> ($000) |
| Credit Protection Sold |  |  |  |  |  |  |
| iTraxx Europe-S38-V1 | 12/21/27 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;1.000 | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;1 |
| Credit Protection Purchased |  |  |  |  |  |  |
| CDX-NA-HY-S37-V2 | 12/22/26 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1124 | &nbsp;&nbsp;&nbsp;(5.000) | &nbsp;&nbsp;&nbsp;(35) | &nbsp;&nbsp;&nbsp;72 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;(33) | &nbsp;&nbsp;&nbsp;73 |

---

1 Periodic premium received/paid quarterly. <br> EUR—euro. <br> USD—U.S. dollar.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Credit Default Swaps | Over-the-Counter Credit Default Swaps | Over-the-Counter Credit Default Swaps | Over-the-Counter Credit Default Swaps | Over-the-Counter Credit Default Swaps | Over-the-Counter Credit Default Swaps | Over-the-Counter Credit Default Swaps | Over-the-Counter Credit Default Swaps | Over-the-Counter Credit Default Swaps |
| Reference<br> Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Periodic<br> Premium<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value<br> ($000) | Remaining<br> Up-Front<br> Premium<br> Paid<br> (Received)<br> ($000) | Unrealized<br> Appreciation<br> ($000) | Unrealized<br> Depreciation<br> ($000) |
| Credit Protection Sold/Moody's Rating | Credit Protection Sold/Moody's Rating | Credit Protection Sold/Moody's Rating | Credit Protection Sold/Moody's Rating | Credit Protection Sold/Moody's Rating | Credit Protection Sold/Moody's Rating | Credit Protection Sold/Moody's Rating | Credit Protection Sold/Moody's Rating | Credit Protection Sold/Moody's Rating |
| Ally Financial Inc./Baa3 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | (5) |  |  | (5) |
| American Express Co./A2 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 2 |  |  |
| American International Group Inc./Baa2 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 1 | 1 |  |  |
| AT&T Inc./Baa2 | 12/21/23 | BARC | 5240 | &nbsp;&nbsp;1.000 | 8 | 31 |  | (23) |
| AT&T Inc./Baa2 | 12/21/23 | BARC | 1320 | &nbsp;&nbsp;1.000 | 2 | 8 |  | (6) |
| Boeing Co./Baa2 | &nbsp;&nbsp;6/21/24 | GSI | 635 | &nbsp;&nbsp;1.000 |  | 4 |  | (4) |
| Boeing Co./Baa2 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 |  |  |  |  |
| Chubb INA Holdings Inc./A3 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 2 |  |  |
| Comcast Corp./A3 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 2 |  |  |
| CVS Health Corp./Baa2 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 1 | 1 |  |  |
| Dominion Energy Inc./Baa2 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 2 |  |  |
| Dow Chemical Co./Baa1 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 |  | 1 |  | (1) |
| Enbridge Inc./Baa1 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 1 | 1 |  |  |
| Federation of Malaysia/A3 | 12/21/27 | MSCS | 167 | &nbsp;&nbsp;1.000 | 2 | (1) | 3 |  |
| General Electric Co./Baa1 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 1 |  | 1 |  |
| General Motors Co./Baa3 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | (2) |  |  | (2) |

---

------

Short-Term Investment-Grade Portfolio

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Credit Default Swaps (continued) | Over-the-Counter Credit Default Swaps (continued) | Over-the-Counter Credit Default Swaps (continued) | Over-the-Counter Credit Default Swaps (continued) | Over-the-Counter Credit Default Swaps (continued) | Over-the-Counter Credit Default Swaps (continued) | Over-the-Counter Credit Default Swaps (continued) | Over-the-Counter Credit Default Swaps (continued) | Over-the-Counter Credit Default Swaps (continued) |
| Reference<br> Entity | Termination<br> Date | Counterparty | Notional<br> Amount<br> ($000) | Periodic<br> Premium<br> Received<br> (Paid)<sup>1</sup><br> (%) | Value<br> ($000) | Remaining<br> Up-Front<br> Premium<br> Paid<br> (Received)<br> ($000) | Unrealized<br> Appreciation<br> ($000) | Unrealized<br> Depreciation<br> ($000) |
| International Business Machines Corp./A3 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 2 |  |  |
| Kroger Co./Baa1 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 1 | 1 |  |  |
| Lincoln National Corp./Baa1 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 |  | 1 |  | (1) |
| Lowe's Cos. Inc./Baa1 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 2 |  |  |
| Marathon Petroleum Corp./Baa2 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 1 | 1 |  |
| Marsh & McLennan Cos. Inc./Baa1 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 2 |  |  |
| Metlife Inc./A3 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 1 | 1 |  |  |
| Mondelez International Inc./Baa1 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 2 |  |  |
| People's Republic of China/A1 | &nbsp;&nbsp;6/21/24 | GSI | 295 | &nbsp;&nbsp;1.000 | 3 | 2 | 1 |  |
| Prudential Financial Inc./A3 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 1 | 1 |  |  |
| Republic of Chile/A2 | 12/21/27 | CITNA | 1235 | &nbsp;&nbsp;1.000 | (5) | (30) | 25 |  |
| Republic of Chile/A2 | 12/21/27 | JPMC | 300 | &nbsp;&nbsp;1.000 | (1) | (8) | 7 |  |
| Republic of Chile/A2 | 12/21/27 | MSCS | 460 | &nbsp;&nbsp;1.000 | (2) | (10) | 8 |  |
| Republic of Philippines/Baa2 | 12/21/27 | BARC | 700 | &nbsp;&nbsp;1.000 | 1 | (11) | 12 |  |
| Simon Property Group LP/A3 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 1 | 1 |  |  |
| UnitedHealth Group Inc./A3 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 | 2 | 2 |  |  |
| Verizon Communications Inc./Baa1 | 12/23/25 | GSI | 100 | &nbsp;&nbsp;1.000 |  | 1 |  | (1) |
|  |  |  |  |  | 29 | 14 | 58 | (43) |
| Credit Protection Purchased | Credit Protection Purchased | Credit Protection Purchased | Credit Protection Purchased | Credit Protection Purchased | Credit Protection Purchased | Credit Protection Purchased | Credit Protection Purchased | Credit Protection Purchased |
| Bank of China Ltd. | &nbsp;&nbsp;6/21/23 | BNPSW | 515 | (1.000) | (2) | (1) |  | (1) |
| Boeing Co. | 12/21/24 | JPMC | 310 | (1.000) | 1 | 11 |  | (10) |
| Republic of Colombia | &nbsp;&nbsp;6/22/27 | MSCS | 300 | (1.000) | 17 | 12 | 5 |  |
|  |  |  |  |  | 16 | 22 | 5 | (11) |
|  |  |  |  |  | 45 | 36 | 63 | (54) |

---

1 Periodic premium received/paid quarterly.

---

| |
|:---|
| BARC—Barclays Bank plc. |
| BNPSW—BNP Paribas. |
| CITNA—Citibank NA. |
| GSI—Goldman Sachs International. |
| JPMC—JPMorgan Chase Bank, N.A. |
| MSCS—Morgan Stanley Capital Services LLC. |

---

The notional amount represents the maximum potential amount the portfolio could be required to pay as a seller of credit protection if the reference entity was subject to a credit event.

See accompanying Notes, which are an integral part of the Financial Statements.

------

Short-Term Investment-Grade Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $2,314,627) | &nbsp;&nbsp;2183958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $15,569) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15569 |
| Total Investments in Securities | &nbsp;&nbsp;2199527 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 |
| Foreign Currency, at Value (Cost $590) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51310 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17180 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902 |
| Swap Premiums Paid | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 |
| Variation Margin Receivable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 |
| Variation Margin Receivable—Centrally Cleared Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Unrealized Appreciation—Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 |
| Unrealized Appreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 |
| **Total Assets** | **2269967** |
| **Liabilities** |  |
| Due to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289 |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96413 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17410 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 |
| Swap Premiums Received | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 |
| Unrealized Depreciation—Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482 |
| Unrealized Depreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;**114843** |
| **Net Assets** | &nbsp;&nbsp;**2155124** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | 2288678 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;(133554) |
| **Net Assets** | &nbsp;&nbsp;**2155124** |
| **Net Assets** |  |
| **Applicable to 217,228,740 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**2155124** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$9.92** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Short-Term Investment-Grade Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends—Affiliated Issuers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Interest—Unaffiliated Issuers | &nbsp;&nbsp;&nbsp;46440 |
| Interest—Affiliated Issuers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;47089 |
| **Expenses** |  |
| The Vanguard Group—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;2617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;3081 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;3078 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;**44011** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold—Unaffiliated Issuers | &nbsp;&nbsp;(38906) |
| Investment Securities Sold—Affiliated Issuers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(224) |
| Futures Contracts | &nbsp;&nbsp;(14388) |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68) |
| Options Written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117) |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;5515 |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(373) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;**(48466)** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities—Unaffiliated Issuers | (128795) |
| Investment Securities—Affiliated Issuers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55) |
| Options Written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846 |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| **Change in Unrealized Appreciation (Depreciation)** | **(127566)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(132021)** |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34911 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;(48466) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25623 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(127566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69853) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(132021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9319) |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(52370) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58920) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;556971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600620 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58667 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(557470) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(537274) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122013 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(132520) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53774 |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**2287644** | &nbsp;&nbsp;&nbsp;**2233870** |
| **End of Period** | **2155124** | &nbsp;&nbsp;&nbsp;**2287644** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Short-Term Investment-Grade Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$10.78** | &nbsp;&nbsp;&nbsp;**$11.12** | &nbsp;&nbsp;&nbsp;**$10.84** | &nbsp;&nbsp;&nbsp;**$10.54** | &nbsp;&nbsp;&nbsp;**$10.63** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.284 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.216) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.187) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.613) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.050) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.097 |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.167) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.233) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.294) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.289) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.187) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.057) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.247) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.290) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.294) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.289) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.187) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;&nbsp;**$9.92** | &nbsp;&nbsp;&nbsp;**$10.78** | &nbsp;&nbsp;&nbsp;**$11.12** | &nbsp;&nbsp;&nbsp;**$10.84** | &nbsp;&nbsp;&nbsp;**$10.54** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-5.72%** | &nbsp;&nbsp;&nbsp;**-0.45%** | &nbsp;&nbsp;&nbsp;**5.49%** | &nbsp;&nbsp;&nbsp;**5.69%** | &nbsp;&nbsp;&nbsp;**0.94%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$2155 | &nbsp;&nbsp;&nbsp;$2288 | &nbsp;&nbsp;&nbsp;$2234 | &nbsp;&nbsp;&nbsp;$1907 | &nbsp;&nbsp;&nbsp;$1683 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;0.14%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;2.00% | &nbsp;&nbsp;&nbsp;1.52% | &nbsp;&nbsp;&nbsp;2.18% | &nbsp;&nbsp;&nbsp;2.83% | &nbsp;&nbsp;&nbsp;2.72% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;86%<sup>3</sup> | &nbsp;&nbsp;&nbsp;78%<sup>3</sup> | &nbsp;&nbsp;&nbsp;89%<sup>3</sup> | &nbsp;&nbsp;&nbsp;67%<sup>3</sup> | &nbsp;&nbsp;&nbsp;78% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.14%. |
| 3 | Includes 10%, 5%, 7% and 1%, respectively, attributable to mortgage-dollar-roll activity. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Short-Term Investment-Grade Portfolio

Notes to Financial Statements

The Short-Term Investment-Grade Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts. Certain of the portfolio's investments are in corporate debt instruments; the issuers' abilities to meet their obligations may be affected by economic developments in their respective industries. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer, tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral, as furnished by independent pricing services.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the portfolio's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. To Be Announced (TBA) Transactions: A TBA transaction is an agreement to buy or sell mortgage-backed securities with agreed-upon characteristics (face amount, coupon, maturity) for settlement at a future date. The portfolio may be a seller of TBA transactions to reduce its exposure to the mortgage-backed securities market or in order to sell mortgage-backed securities it owns under delayed-delivery arrangements. When the portfolio is a buyer of TBA transactions, it maintains cash or short-term investments in an amount sufficient to meet the purchase price at the settlement date of the TBA transaction. The primary risk associated with TBA transactions is that a counterparty may default on its obligations. The portfolio mitigates its counterparty risk by, among other things, performing a credit analysis of counterparties, allocating transactions among numerous counterparties, and monitoring its exposure to each counterparty. The portfolio may also enter into a Master Securities Forward Transaction Agreement (MSFTA) with certain counterparties and require them to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. Under an MSFTA, upon a counterparty default (including bankruptcy), the portfolio may terminate any TBA transactions with that counterparty, determine the net amount owed by either party in accordance with its MSFTA, and sell or retain any collateral held up to the net amount owed to the portfolio under the MSFTA.

4. Mortgage Dollar Rolls: The portfolio enters into mortgage-dollar-roll transactions, in which the portfolio sells mortgage-backed securities to a dealer and simultaneously agrees to purchase similar securities in the future at a predetermined price. The proceeds of the securities sold in mortgage-dollar-roll transactions are typically invested in high-quality short-term fixed income securities. The portfolio forgoes principal and interest paid on the securities sold, and is compensated by interest earned on the proceeds of the sale and by a lower price on the securities to be repurchased. The portfolio also enters into mortgage-dollar-roll transactions in which the portfolio buys mortgage-backed securities from a dealer pursuant to a TBA transaction and simultaneously agrees to sell similar securities in the future at a predetermined price. The securities bought in

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Short-Term Investment-Grade Portfolio

mortgage-dollar-roll transactions are used to cover an open TBA sell position. The portfolio continues to earn interest on mortgage-backed security pools already held and receives a lower price on the securities to be sold in the future. The portfolio accounts for mortgage-dollar-roll transactions as purchases and sales; as such, these transactions may increase the portfolio's portfolio turnover rate. Amounts to be received or paid in connection with open mortgage dollar rolls are included in Receivables for Investment Securities Sold or Payables for Investment Securities Purchased in the Statement of Assets and Liabilities.

5. Floating Rate Loan Interests: Floating rate loan interests represent interests in amounts owed by corporate or other borrowers. These instruments may be in the form of loans, trade claims or other receivables and may include standby financing commitments such as revolving credit facilities that obligate the portfolio to supply additional cash to the borrower on demand. Floating rate loan interests may be made directly with a borrower or acquired through assignment or participation. The portfolio's right to enforce a borrower's compliance with the terms of the loan agreement, or benefit directly from the collateral supporting the loan, varies when the loan is a direct borrowing, an assignment, or a participation. Floating rate loan interests involve various risks including risk of loss in case of default, insolvency, or the bankruptcy of the borrower and are generally subject to restrictions on transfer with limited opportunities to sell them in secondary markets. The portfolio may also invest in loan commitments, which are contractual obligations for a future funding. The portfolio may earn a commitment fee on any unfunded portion of these commitments which is amortized to interest income over the commitment period. Both the funded portion of a floating rate loan interest as well as its unfunded commitment, if any, is reflected on the Schedule of Investments.

6. Swaptions: The portfolio invests in options on swaps, which are transacted over-the-counter (OTC) and not on an exchange. The portfolio enters into swaptions to adjust the portfolio's sensitivity to interest rates or to adjust its exposure to the underlying investments. The portfolio may purchase a swaption from a counterparty whereby the portfolio has the right to enter into a swap in which the portfolio will pay either a fixed percentage rate or a floating rate, which is reset periodically based on short-term interest rates, and receive a different floating rate, each applied to a notional amount. The portfolio may also sell a swaption to a counterparty whereby the portfolio grants the counterparty the right to enter into a swap in which the portfolio will pay a floating rate and receive a fixed rate, each applied to a notional amount. Swaptions also include options that allow an existing swap to be terminated or extended by one of the counterparties. Unlike exchange-traded options, which are standardized with respect to the underlying instrument, expiration date, contract size, and strike price, the terms of OTC options generally are established through negotiation with the other party to the option contract. Although this type of arrangement allows the purchaser or writer greater flexibility to tailor an option to its needs, OTC options generally involve greater credit risk than exchange-traded options. Credit risk involves the possibility that a counterparty may default on its obligation to pay net amounts due to the portfolio. The portfolio mitigates its counterparty risk by entering into swaptions with a diverse group of prequalified counterparties and monitoring their financial strength.

The primary risk associated with purchasing swaptions is that interest rates or the value of the underlying investments move in such a way that the exercise price of the swaption exceeds the value of the underlying investment, the position is worthless at expiration, and the portfolio loses the premium paid. The primary risk associated with selling swaptions is that interest rates or the value of the underlying investments move in such a way that the exercise price of the swaption exceeds the value of the underlying investment, the counterparty exercises the swaption, and the resulting interest rate swap results in a negative cash flow to the portfolio in an amount greater than the premium received. A risk associated with all types of swaptions is the possibility that a counterparty may default on its obligations under the swaption contract.

Swaptions are valued based on market quotations received from independent pricing services or recognized dealers. The premium paid for a purchased swaption is recorded in the Statement of Assets and Liabilities as an asset and is subsequently adjusted daily based on the current market value of the swaption. The premium received for a written swaption is recorded in the Statement of Assets and Liabilities as an asset with an equal liability and is subsequently adjusted daily based on the current market value of the swaption. The notional amounts of option contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of swaptions are recorded in the Statement of Operations as unrealized appreciation (depreciation) until expired, closed, or exercised, at which time realized gains (losses) are recognized.

During the year ended December 31, 2022, the portfolio's average value of investments in swaptions purchased and swaptions written each represented less than 1% of net assets, respectively, based on the average market values at each quarter-end during the period.

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Short-Term Investment-Grade Portfolio

7. Futures Contracts: The portfolio uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 8% and 3% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

8. Forward Currency Contracts: The portfolio enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. The portfolio's risks in using these contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts. The portfolio mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate the forward currency contracts, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the portfolio under the master netting arrangements. The forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the portfolio's net assets decline below a certain level, triggering a payment by the portfolio if the portfolio is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the portfolio has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

Forward currency contracts are valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on forward currency contracts.

During the year ended December 31, 2022, the portfolio's average investment in forward currency contracts represented 4% of net assets, based on the average of the notional amounts at each quarter-end during the period.

9. Swap Contracts: The portfolio invests in credit default swaps to adjust the overall credit risk of the portfolio or to actively overweight or underweight credit risk to a specific issuer or group of issuers. The portfolio may sell credit protection through credit default swaps to simulate investments in long positions that are either unavailable or considered to be less attractively priced in the bond market. The portfolio may purchase credit protection through credit default swaps to reduce credit exposure to a given issuer or issuers. Under the terms of the swaps, an up-front payment may be exchanged between the seller and buyer. In addition, the seller of the credit protection receives a periodic payment of premium from the buyer that is a fixed percentage applied to a notional amount. If, for example, the reference entity is subject to a credit event (such as bankruptcy, failure to pay, or obligation acceleration) during the term of the swap, the seller agrees to either physically settle or cash settle the swap contract. If the swap is physically settled, the seller agrees to pay the buyer an amount equal to the notional amount and take delivery of a debt instrument of the reference issuer

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Short-Term Investment-Grade Portfolio

with a par amount equal to such notional amount. If the swap is cash settled, the seller agrees to pay the buyer the difference between the notional amount and the final price for the relevant debt instrument, as determined either in a market auction or pursuant to a pre-agreed-upon valuation procedure.

The portfolio enters into centrally cleared credit default swaps to achieve the same objectives specified with respect to the equivalent over-the-counter swaps but with less counterparty risk because a regulated clearinghouse is the counterparty instead of the clearing broker or executing broker. The clearinghouse imposes initial margin requirements to secure the portfolio's performance, and requires daily settlement of variation margin representing changes in the market value of each contract. To further mitigate counterparty risk, the portfolio trades with a diverse group of prequalified executing brokers; monitors the financial strength of its clearing brokers, executing brokers, and clearinghouse; and has entered into agreements with its clearing brokers and executing brokers.

The primary risk associated with selling credit protection is that, upon the occurrence of a defined credit event, the market value of the debt instrument received by the portfolio (or, in a cash settled swap, the debt instruments used to determine the settlement payment by the portfolio) will be significantly less than the amount paid by the portfolio and, in a physically settled swap, the portfolio may receive an illiquid debt instrument. A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the portfolio. The portfolio's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The portfolio mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the portfolio may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the portfolio under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the portfolio's net assets decline below a certain level, triggering a payment by the portfolio if the portfolio is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the portfolio has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the seller of credit protection is required to take delivery (or, in a cash settled swap, pay the settlement amount determined) upon occurrence of a credit event, periodic payments are made, or the swap terminates, at which time realized gain (loss) is recorded. The net premium to be received or paid by the portfolio under swap contracts is accrued daily and recorded as realized gain (loss) over the life of the contract.

During the year ended December 31, 2022, the portfolio's average amounts of investments in credit protection sold and credit protection purchased represented 2% and less than 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

The portfolio had no open interest rate swap contracts at December 31, 2022.

10. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

11. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

12. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by

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Short-Term Investment-Grade Portfolio

Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

13. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative,
marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of
trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $80,000, representing less than 0.01% of the portfolio's net assets and 0.03% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**C.** The portfolio's custodian bank has agreed to reduce its fees when the portfolio maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset
arrangements reduced the portfolio's expenses by $3,000 (an annual rate of less than 0.01% of average net assets).

**D.** Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement
purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

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Short-Term Investment-Grade Portfolio

The following table summarizes the market value of the portfolio's investments and derivatives as of December 31, 2022, based on the inputs used to value them:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| U.S. Government and Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;363706 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;363706 |
| Asset-Backed/Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118740 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118740 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1668696 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;1668697 |
| Floating Rate Loan Interests | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1995 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1995 |
| Sovereign Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30214 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30214 |
| Taxable Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606 |
| Temporary Cash Investments | 15569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15569 |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total | 15569 | &nbsp;&nbsp;&nbsp;2183957 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;2199527 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Futures Contracts<sup>1</sup> | 1062 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1062 |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;73<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 |
| Total | &nbsp;&nbsp;1135 | &nbsp;&nbsp;&nbsp;251 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1386 |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;385 |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;482 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;482 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 |
| Total | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;536 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;921 |

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1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

**E.** At December 31, 2022, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| Statement of Assets and Liabilities | Interest Rate<br> Contracts<br> ($000) | Foreign<br> Exchange<br> Contracts<br> ($000) | Credit<br> Contracts<br> ($000) | &nbsp;&nbsp;Total<br> ($000) |
| Investments in Secuties, at Value—Unaffiliated Issuers (Options Purchased) |  |  |  | &nbsp;&nbsp;— |
| Swap Premiums Paid |  |  | 97 | &nbsp;&nbsp;97 |
| Unrealized Appreciation—Futures Contracts<sup>1</sup> | 1062 |  |  | &nbsp;&nbsp;1062 |
| Unrealized Appreciation—Centrally Cleared Swap Contracts<sup>1</sup> |  |  | 73 | &nbsp;&nbsp;73 |
| Unrealized Appreciation—Forward Currency Contracts |  | 188 |  | &nbsp;&nbsp;188 |
| Unrealized Appreciation—<br> Over-the-Counter Swap Contracts |  |  | 63 | &nbsp;&nbsp;63 |
| Total Assets | 1062 | 188 | 233 | &nbsp;&nbsp;1483 |
| Swap Premiums Received |  |  | 61 | &nbsp;&nbsp;61 |
| Unrealized Depreciation—Futures Contracts<sup>1</sup> | 385 |  |  | &nbsp;&nbsp;385 |
| Unrealized Depreciation—Forward Currency Contracts |  | 482 |  | &nbsp;&nbsp;482 |
| Unrealized Depreciation—<br> Over-the-Counter Swap Contracts |  |  | 54 | &nbsp;&nbsp;54 |
| Total Liabilities | 385 | 482 | 115 | &nbsp;&nbsp;982 |

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1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

Realized net gain (loss) and the change in unrealized appreciation (depreciation) on derivatives for the year ended December 31, 2022, were:

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| | | | | |
|:---|:---|:---|:---|:---|
| Realized Net Gain (Loss) on Derivatives | Interest Rate<br> Contracts<br> ($000) | Foreign<br> Exchange<br> Contracts<br> ($000) | Credit<br> Contracts<br> ($000) | &nbsp;&nbsp;Total<br> ($000) |
| Futures Contracts | (14388) |  |  | &nbsp;&nbsp;(14388) |
| Options Purchased |  |  | (68) | &nbsp;&nbsp;(68) |
| Options Written |  |  | 95 | &nbsp;&nbsp;95 |

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Short-Term Investment-Grade Portfolio

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Interest Rate<br> Contracts<br> ($000) | Foreign<br> Exchange<br> Contracts<br> ($000) | Credit<br> Contracts<br> ($000) | &nbsp;&nbsp;Total<br> ($000) |
| Swap Contracts |  |  | (117) | &nbsp;&nbsp;(117) |
| Forward Currency Contracts |  | 5515 |  | &nbsp;&nbsp;5515 |
| Realized Net Gain (Loss) on Derivatives | (14388) | 5515 | (90) | &nbsp;&nbsp;(8963) |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives |
| Futures Contracts | 430 |  |  | &nbsp;&nbsp;430 |
| Options Purchased | (80) |  | 25 | &nbsp;&nbsp;(55) |
| Options Written |  |  | (11) | &nbsp;&nbsp;(11) |
| Swap Contracts |  |  | 7 | &nbsp;&nbsp;7 |
| Forward Currency Contracts |  | 846 |  | &nbsp;&nbsp;846 |
| Change in Unrealized Appreciation (Depreciation) on Derivatives | 350 | 846 | 21 | &nbsp;&nbsp;1217 |

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**F.** Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no
effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable foreign currency transactions and swap agreements were reclassified
between the individual components of total distributable earnings (loss).

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; the recognition of unrealized gains or losses from certain derivative contracts; the recognition of gain or loss from foreign currency hedges; and the treatment of amortization adjustments from certain fixed income securities. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;43648 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;(50898) |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(126304) |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;35540 | &nbsp;&nbsp;&nbsp;&nbsp;53792 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;16830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5128 |
| Total | &nbsp;&nbsp;&nbsp;52370 | &nbsp;&nbsp;&nbsp;&nbsp;58920 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;2325948 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7562 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(133866) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(126304) |

---

**G.** During the year ended December 31, 2022, the portfolio purchased $881,537,000 of investment securities and sold $916,394,000 of investment securities, other than U.S. government securities and temporary cash
investments. Purchases and sales of U.S. government securities were $1,085,214,000 and $930,818,000, respectively.

The portfolio purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended

------

Short-Term Investment-Grade Portfolio

December 31, 2022, such purchases were $297,454,000 and sales were $86,228,000, resulting in net realized loss of $1,685,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

**H.** Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;55015 | &nbsp;&nbsp;&nbsp;&nbsp;55101 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;5190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5442 |
| Redeemed | (55107) | &nbsp;&nbsp;(49365) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;&nbsp;5098 | &nbsp;&nbsp;&nbsp;&nbsp;11178 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 37% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**I.** Transactions during the period in investments where the issuer is another member of The Vanguard Group were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions |  |
|  | Dec. 31,<br> 2021<br> Market<br> Value<br> ($000) | Purchases<br> at Cost<br> ($000) | Proceeds<br> from<br> Securities<br> Sold<br> ($000) | Realized<br> Net<br> Gain<br> (Loss)<br> ($000) | Change in<br> Unrealized<br> App. (Dep.)<br> ($000) | Income<br> ($000) | Capital Gain<br> Distributions<br> Received<br> ($000) | Dec. 31,<br> 2022<br> Market<br> Value<br> ($000) |
| Vanguard Market Liquidity Fund | 62033 | NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;(18) | &nbsp;&nbsp;&nbsp;&nbsp;5 | 620 |  | 15569 |
| Vanguard Short-Term Corporate Bond ETF | &nbsp;&nbsp;2620 | &nbsp;&nbsp;&nbsp;&nbsp;— | 2402 | (206) | (12) | &nbsp;&nbsp;&nbsp;29 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total | 64653 | &nbsp;&nbsp;&nbsp;&nbsp;— | 2402 | (224) | &nbsp;&nbsp;&nbsp;(7) | 649 |  | 15569 |

---

1 Not applicable—purchases and sales are for temporary cash investment purposes.

**J.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Short-Term Investment-Grade Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Short-Term Investment-Grade Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

------

#### Tax information (unaudited)
The portfolio hereby designates $4,888,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $16,830,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

The portfolio hereby designates 100%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of Section 163(j) and the regulations thereunder for the fiscal year.

------

"Bloomberg®," Bloomberg U.S. Aggregate Float Adjusted Index, and Bloomberg U.S. 1–5 Year Credit Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).

The Short-Term Investment-Grade Portfolio is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Short-Term Investment-Grade Portfolio or any member of the public regarding the advisability of investing in securities generally or in the Short-Term Investment-Grade Portfolio particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Aggregate Float Adjusted Index and Bloomberg U.S. 1–5 Year Credit Bond Index (the Indices), which are determined, composed and calculated by BISL without regard to Vanguard or the Short-Term Investment-Grade Portfolio. Bloomberg has no obligation to take the needs of Vanguard or the owners of the Short-Term Investment-Grade Portfolio into consideration in determining, composing or calculating the Indices. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Short-Term Investment-Grade Portfolio to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Short-Term Investment-Grade Portfolio customers, in connection with the administration, marketing or trading of the Short-Term Investment-Grade Portfolio.

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDICES OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE SHORT-TERM INVESTMENT-GRADE PORTFOLIO OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDICES OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDICES OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE SHORT-TERM INVESTMENT-GRADE PORTFOLIO OR THE INDICES OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.© 2023 Bloomberg.

Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

------

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

------

![](tm231735d7shttrminvtgrdi006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Annuity and Insurance Services > 800-522-5555

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

#### CFA<sup>®</sup> is a registered trademark owned by CFA Institute.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690ST 022023

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![](tm231735d7smlcomgrwti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Small Company Growth Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| Advisors' Report<br>| 2 |
| About Your Portfolio's Expenses<br>| 4 |
| Performance Summary<br>| 5 |
| Financial Statements<br>| 7 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your fund are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• For the 12 months ended December 31, 2022, the Small Company Growth Portfolio of the Vanguard Variable Insurance Funds returned –25.35%. It held up better than the –26.21% return of its benchmark, the
Russell 2500 Growth Index.

• Financial markets were challenged as inflation soared to its highest levels in decades due to increased government spending during the pandemic and higher energy and food prices caused by Russia's invasion of
Ukraine. To combat higher prices, central banks around the world tightened monetary policy which caused fears of recession.

• The portfolio's positions in information technology, financials, and materials helped results the most. Underweights to energy and consumer staples as well an overweight to communication services detracted the
most.

• For the decade ended December 31, the fund produced an average annual return of 10.06%, below that of its benchmark.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

Advisors' Report

The Small Company Growth Portfolio returned –25.35% for the 12 months ended December 31, 2022. It held up better than the –26.21% return of its benchmark, the Russell 2500 Growth Index.

The portfolio is managed by two independent advisors, a strategy that enhances diversification by providing exposure to distinct yet complementary investment approaches. It is not uncommon for different advisors to have different views about individual securities or the broader investment environment.

The advisors, the amount and percentage of the portfolio's assets each manages, and brief descriptions of their investment strategies are presented in the accompanying table. Each advisor has also prepared a discussion of the investment environment that existed during the 12 months and its effect on the portfolio's positioning. These comments were prepared on January 13, 2023.

#### Vanguard Quantitative Equity Group
Portfolio Manager:

Cesar Orosco, CFA,

Head of Alpha Equity Investments

#### The investment environment
Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.

For the 12 months ended December 31, U.S. stocks returned –19.21%, as measured by the Russell 3000 Index. Stocks outside the U.S. returned –15.49%, as measured by the FTSE All-World ex US Index.

The broad U.S. bond market returned –13.07% for the 12-month period, as measured by the Bloomberg U.S. Aggregate Float Adjusted Index. Non-U.S. bonds, as measured by the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), fell –12.72% for the year.

#### Investment objective and strategy
Although our portion of the portfolio's overall performance was affected by the macroeconomic factors we've described, our approach to investing focuses on specific stock fundamentals that we believe are more likely to produce outperformance over the long run. These include high quality, management decisions, consistent earnings growth, strong market sentiment, and reasonable valuation. We also evaluate companies based on a defensive signal that assesses heavily shorted stocks, as this can signal concerns over future company prospects.

Using these six themes, we generate an expected return, seeking to capitalize on investor biases. We then monitor our portfolio based on those rankings and adjust when appropriate to maximize expected return while minimizing exposure to risks that our research indicates do not improve returns (such as industry selection and other risks relative to our benchmark).

#### Our successes and shortfalls
Over the 12 months, outperformance was driven by our defensive, value, management decisions, and quality models, with the growth model being the sole detractor. Returns outpaced the benchmark in eight of 11 industry sectors, with information technology (IT), consumer discretionary, and industrials producing the strongest results. Consumer staples, utilities, and energy were the only sectors that detracted from relative performance. Among subsectors, software in IT, auto components and specialty retail in consumer discretionary, and machinery in industrials produced some of the strongest results.

At the individual stock level, overweights to Steel Dynamics in materials, Ovintiv in energy, and Fair Issac in IT as well as underweights to Trex in industrials and AppLovin in IT produced the best results. Overweights to IT companies Atlassian, Domo, and 8x8 as well as underweights to Booz Allen Hamilton in industrials and LPL Financial Holdings in financials detracted the most.

We continue to believe that a portfolio focused on fundamentals will benefit investors over the long term, although we recognize that the market can reward or punish us in the near term. We believe our portfolio offers a strong mix of stocks with attractive valuations and value characteristics.

#### ArrowMark Partners
Portfolio Managers:

Chad Meade, Partner

Brian Schaub, CFA, Partner

#### Investment environment
Investor sentiment soured considerably during the 12-month period ended December 31, 2022, amid sustained generational highs in inflation and a boldly hawkish turn by the U.S. Federal Reserve. Ongoing supply chain challenges, rising interest rates, Russia's invasion of Ukraine, and solid wage growth all propelled prices higher, which sparked recession concerns. Many stocks absorbed significant double-digit losses as interest rates jumped and the U.S. Treasury yield curve flattened. By the end of the year, small- and mid-cap growth indexes had suffered their worst year of performance since 2008.

During the period, the Fed fully transformed its strategy from the accommodative approach implemented in response to COVID-19 to an aggressive tightening campaign focused on taming

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inflation. In addition to wrapping up its pandemic-era bond-buying program, policymakers started reducing the Fed's balance sheet and implemented the first 50-basis-point hike since 2000, followed by the first 75-basis-point increase in 28 years. (A basis point is one-hundredth of a percentage point.) In aggregate, the Fed raised interest rates seven times for a total of 425 basis points.

#### Investment objective
Our investment process prioritizes the management of risk over the opportunity for return, and our goal is to build an all-weather portfolio that can perform in a variety of market conditions. We look to build a portfolio that can mitigate capital losses on the downside and, secondarily, provide 100% upside participation during market recoveries.

#### Portfolio results
HealthEquity, a provider of health savings accounts (HSAs), was a positive contributor to performance during the period. The increasing adoption of high-deductible health insurance plans by

employers has led to higher demand for HSAs, which provide consumers with an effective means of saving and paying for health-related expenses. Our investment thesis for this company is based on our belief that, as the market-leading U.S. provider of HSAs, HealthEquity will continue to benefit from rising demand trends.

Industrials company Clean Harbors, a leading hazardous waste treatment, storage, and disposal management company in North America, also contributed positively to performance. Particularly impressive are its hazardous waste incinerators, which are nearly impossible to replicate. We also like its oil re-refinery business, which is gaining recognition as a sustainable source of motor oil.

Generac Holdings was one of our portfolio holdings that struggled during the period. Generac is a manufacturer of power generation equipment with a leading position in home standby generators. It also offers consumers a home energy management system that harnesses and

stores power from the sun for backup during utility power outages. Severe weather events that strained already overburdened power grids in California and other key markets have created significant opportunities for home power generation equipment manufacturers. With the future potential to aggregate these distributed energy resources through the company's grid services business, homeowners have the potential to monetize these assets.

8x8, a cloud communications provider that offers businesses a unified voice, contact center, video, and chat platform, also held back results. The company in late 2020 hired a new CEO who has since refocused on areas of the market where 8x8 has competitive advantages and the potential to earn higher margins. In conjunction with this change in strategy, the company exited low-growth and low-margin product lines, which has led to what we believe is a temporary slowdown in revenue growth.

As always, we will continue to look for companies that can perform in a variety of market conditions and mitigate capital losses.

Small Company Growth Portfolio Investment Advisors

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| | | | |
|:---|:---|:---|:---|
|  | Portfolio Assets Managed | Portfolio Assets Managed |  |
| Investment Advisor | % | &nbsp;&nbsp;&nbsp;$ Million | &nbsp;&nbsp;&nbsp;Investment Strategy |
| Vanguard Quantitative Equity Group | 49 | &nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;Employs a quantitative approach that focuses on fundamental factors, using models that assess valuation, growth prospects, management decisions, market sentiment, and earnings and balance-sheet quality of companies as compared with their peers. |
| ArrowMark Partners | 48 | &nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;The firm uses in-depth fundamental research to uncover companies that, in its opinion, can control their own economic destiny. It starts by identifying businesses with strong competitive advantages in industries with high barriers to entry, then narrows the focus to companies with large potential markets and high-quality business models focused on the future. Finally, considerations are made for potential downside risk, resulting in a diversified portfolio of between 75 and 100 stocks. |
| Cash Investments | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;These short-term reserves are invested by Vanguard in equity index products to simulate investment in stocks. Each advisor may also maintain a modest cash position. |

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Small Company Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1031.40 | &nbsp;&nbsp;&nbsp;&nbsp;$1.43 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.43 |

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The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.28%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

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Small Company Growth Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7smlcomgrwti002.gif)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7smlcomgrwti003.jpg) | &nbsp;&nbsp;&nbsp;Small Company Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-25.35% | &nbsp;&nbsp;&nbsp;&nbsp;4.53% | &nbsp;&nbsp;&nbsp;&nbsp;10.06% | &nbsp;&nbsp;&nbsp;&nbsp;$26087 |
| ![](tm231735d7smlcomgrwti004.jpg) | &nbsp;&nbsp;&nbsp;Russell 2500 Growth Index | &nbsp;&nbsp;&nbsp;&nbsp;-26.21 | &nbsp;&nbsp;&nbsp;&nbsp;5.97 | &nbsp;&nbsp;&nbsp;&nbsp;10.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27430 |
| ![](tm231735d7smlcomgrwti005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

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See Financial Highlights for dividend and capital gains information.

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Small Company Growth Portfolio

Portfolio Allocation

As of December 31, 2022

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| | |
|:---|:---|
| Communication Services | &nbsp;&nbsp;&nbsp;4.0% |
| Consumer Discretionary | 14.0 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;2.1 |
| Energy | &nbsp;&nbsp;&nbsp;3.1 |
| Financials | &nbsp;&nbsp;&nbsp;4.8 |
| Health Care | 23.6 |
| Industrials | 21.3 |
| Information Technology | 21.6 |
| Materials | &nbsp;&nbsp;&nbsp;3.4 |
| Real Estate | &nbsp;&nbsp;&nbsp;1.3 |
| Utilities | &nbsp;&nbsp;&nbsp;0.8 |

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The table reflects the portfolio's investments, except for short-term investments and derivatives. Sector categories are based on the Global Industry Classification Standard ("GICS"), except for the "Other" category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard and Poor's, a division of McGraw-Hill Companies, Inc. ("S&P"), and is licensed for use by Vanguard. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of its affiliates or any third party involved in making or compiling the GICS or any GICS classification have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

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Small Company Growth Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

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| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Common Stocks (95.4%)** | **Common Stocks (95.4%)** | **Common Stocks (95.4%)** | **Common Stocks (95.4%)** |
| **Communication Services (3.9%)** | **Communication Services (3.9%)** | **Communication Services (3.9%)** | **Communication Services (3.9%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ziff Davis Inc. | &nbsp;&nbsp;&nbsp;&nbsp;217013 | &nbsp;&nbsp;&nbsp;&nbsp;17166 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ZipRecruiter Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;679344 | &nbsp;&nbsp;&nbsp;&nbsp;11155 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cargurus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;686216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9614 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Iridium Communications Inc. | &nbsp;&nbsp;&nbsp;&nbsp;76149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3914 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Yelp Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;80912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2212 |
|  | &nbsp;&nbsp;&nbsp;Shutterstock Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576 |
|  | &nbsp;&nbsp;&nbsp;Cable One Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Clear Channel Outdoor Holdings Inc. | 1059840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Playtika Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;94660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DHI Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;TripAdvisor Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Bandwidth Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;14155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Integral Ad Science Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237 |
|  | &nbsp;&nbsp;&nbsp;Madison Square Garden Sports Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;WideOpenWest Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Vimeo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Loyalty Ventures Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Consolidated Communications Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
|  |  |  | **51057** |
| **Consumer Discretionary (13.4%)** | **Consumer Discretionary (13.4%)** | **Consumer Discretionary (13.4%)** | **Consumer Discretionary (13.4%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Skechers USA Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;371151 | &nbsp;&nbsp;&nbsp;&nbsp;15570 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;frontdoor Inc. | &nbsp;&nbsp;&nbsp;&nbsp;734153 | &nbsp;&nbsp;&nbsp;&nbsp;15270 |
|  | &nbsp;&nbsp;&nbsp;Churchill Downs Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60473 | &nbsp;&nbsp;&nbsp;&nbsp;12786 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Under Armour Inc. Class C | &nbsp;&nbsp;&nbsp;&nbsp;939535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8381 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sally Beauty Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;652766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8173 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Grand Canyon Education Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6360 |
|  | &nbsp;&nbsp;&nbsp;Hanesbrands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;875583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5569 |
|  | &nbsp;&nbsp;&nbsp;Texas Roadhouse Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;61060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5553 |
|  | &nbsp;&nbsp;&nbsp;Carter's Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5313 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Canada Goose Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;289529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5156 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sportradar Holding AG Class A | &nbsp;&nbsp;&nbsp;&nbsp;475093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4732 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Floor & Decor Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;60266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Skyline Champion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;76107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3920 |
|  | &nbsp;&nbsp;&nbsp;Buckle Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3839 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fox Factory Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3724 |
|  | &nbsp;&nbsp;&nbsp;Williams-Sonoma Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3721 |
|  | &nbsp;&nbsp;&nbsp;Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;66644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3634 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Farfetch Ltd. Class A | &nbsp;&nbsp;&nbsp;&nbsp;765321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3620 |
|  | &nbsp;&nbsp;&nbsp;Murphy USA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3111 |
|  | &nbsp;&nbsp;&nbsp;Travel & Leisure Co. | &nbsp;&nbsp;&nbsp;&nbsp;77981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2838 |
|  | &nbsp;&nbsp;&nbsp;Toll Brothers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2599 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;&nbsp;158802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SeaWorld Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2198 |
|  | &nbsp;&nbsp;&nbsp;Oxford Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2179 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CarParts.com Inc. | &nbsp;&nbsp;&nbsp;&nbsp;314645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Malibu Boats Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;36003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1919 |

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| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Patrick Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890 |
|  | &nbsp;&nbsp;&nbsp;Tapestry Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1877 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Chegg Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1796 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cavco Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666 |
|  | &nbsp;&nbsp;&nbsp;Dine Brands Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1651 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Six Flags Entertainment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Modine Manufacturing Co. | &nbsp;&nbsp;&nbsp;&nbsp;75621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tri Pointe Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Master Craft Boat Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455 |
|  | &nbsp;&nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1385 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;RH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1368 |
|  | &nbsp;&nbsp;&nbsp;Signet Jewelers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;American Axle & Manufacturing Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;156902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1227 |
|  | &nbsp;&nbsp;&nbsp;Ruth's Hospitality Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;76148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179 |
|  | &nbsp;&nbsp;&nbsp;Academy Sports & Outdoors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122 |
|  | &nbsp;&nbsp;&nbsp;Wingstop Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Liquidity Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Destination XL Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;151300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Deckers Outdoor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Hilton Grand Vacations Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Everi Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Inspired Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Chico's FAS Inc. | &nbsp;&nbsp;&nbsp;&nbsp;151241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744 |
|  | &nbsp;&nbsp;&nbsp;Carriage Services Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;23028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Visteon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612 |
|  | &nbsp;&nbsp;&nbsp;Steven Madden Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dave & Buster's Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569 |
|  | &nbsp;&nbsp;&nbsp;Caleres Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 |
|  | &nbsp;&nbsp;&nbsp;RCI Hospitality Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484 |
|  | &nbsp;&nbsp;&nbsp;Standard Motor Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Boot Barn Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 |
|  | &nbsp;&nbsp;&nbsp;Hibbett Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Golden Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Brinker International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Taylor Morrison Home Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;13027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 |
|  | &nbsp;&nbsp;&nbsp;Wendy's Co. | &nbsp;&nbsp;&nbsp;&nbsp;17258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Monarch Casino & Resort Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 |
|  | &nbsp;&nbsp;&nbsp;Installed Building Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Accel Entertainment Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;38333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Green Brick Partners Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 |
|  | &nbsp;&nbsp;&nbsp;PulteGroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Five Below Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Quotient Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Duluth Holdings Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;31913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Luminar Technologies Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;38803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MarineMax Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Latham Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Workhorse Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Stoneridge Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Torrid Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dorman Products Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Holley Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 |
|  |  |  | **177927** |
| **Consumer Staples (2.0%)** | **Consumer Staples (2.0%)** | **Consumer Staples (2.0%)** | **Consumer Staples (2.0%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;elf Beauty Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4398 |
|  | &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4055 |
|  | &nbsp;&nbsp;&nbsp;Cal-Maine Foods Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3314 |
|  | &nbsp;&nbsp;&nbsp;Lamb Weston Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2519 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Darling Ingredients Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1894 |
|  | &nbsp;&nbsp;&nbsp;John B Sanfilippo & Son Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Herbalife Nutrition Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;58607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872 |
|  | &nbsp;&nbsp;&nbsp;Medifast Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 |
|  | &nbsp;&nbsp;&nbsp;Turning Point Brands Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 |
|  | &nbsp;&nbsp;&nbsp;Inter Parfums Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Olaplex Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;USANA Health Sciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Vital Farms Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Performance Food Group Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 |
|  |  |  | **26517** |
| **Energy (3.0%)** | **Energy (3.0%)** | **Energy (3.0%)** | **Energy (3.0%)** |
|  | &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3039 |
|  | &nbsp;&nbsp;&nbsp;SM Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;87090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3033 |
|  | &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Southwestern Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;362694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2122 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Nabors Industries Ltd. (XNYS) | &nbsp;&nbsp;&nbsp;&nbsp;13380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072 |
|  | &nbsp;&nbsp;&nbsp;Range Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;80612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2017 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Talos Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;100243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893 |
|  | &nbsp;&nbsp;&nbsp;Liberty Energy Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;118052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Kosmos Energy Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;269890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1717 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;W&T Offshore Inc. | &nbsp;&nbsp;&nbsp;&nbsp;298588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Par Pacific Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. (XNYS) | &nbsp;&nbsp;&nbsp;&nbsp;28761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Weatherford International plc | &nbsp;&nbsp;&nbsp;&nbsp;26568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1353 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Amplify Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;148706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Antero Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253 |
|  | &nbsp;&nbsp;&nbsp;Delek US Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205 |
|  | &nbsp;&nbsp;&nbsp;PBF Energy Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;29088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;US Silica Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Denbury Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112 |
|  | &nbsp;&nbsp;&nbsp;Matador Resources Co. | &nbsp;&nbsp;&nbsp;&nbsp;19219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 |
|  | &nbsp;&nbsp;&nbsp;CONSOL Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669 |
|  | &nbsp;&nbsp;&nbsp;Riley Exploration Permian Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 |

---

------

Small Company Growth Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;CVR Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Laredo Petroleum Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Callon Petroleum Co. | &nbsp;&nbsp;&nbsp;&nbsp;11726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 |
|  | &nbsp;&nbsp;&nbsp;Comstock Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 |
|  | &nbsp;&nbsp;&nbsp;PDC Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 |
|  | &nbsp;&nbsp;&nbsp;Arch Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NexTier Oilfield Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 |
|  | &nbsp;&nbsp;&nbsp;Patterson-UTI Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Oceaneering International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;TETRA Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 |
|  | &nbsp;&nbsp;&nbsp;Solaris Oilfield Infrastructure Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;11808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117 |
|  |  |  | **39522** |
| **Financials (4.5%)** | **Financials (4.5%)** | **Financials (4.5%)** | **Financials (4.5%)** |
|  | &nbsp;&nbsp;&nbsp;LPL Financial Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78724 | &nbsp;&nbsp;&nbsp;&nbsp;17018 |
|  | &nbsp;&nbsp;&nbsp;WisdomTree Inc. | 1472040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8023 |
|  | &nbsp;&nbsp;&nbsp;FactSet Research Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4197 |
|  | &nbsp;&nbsp;&nbsp;Synovus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;95630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3591 |
|  | &nbsp;&nbsp;&nbsp;Everest Re Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3516 |
|  | &nbsp;&nbsp;&nbsp;RLI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3451 |
|  | &nbsp;&nbsp;&nbsp;Virtus Investment Partners Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2889 |
|  | &nbsp;&nbsp;&nbsp;Kinsale Capital Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2457 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;LendingClub Corp. | &nbsp;&nbsp;&nbsp;&nbsp;270026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2376 |
|  | &nbsp;&nbsp;&nbsp;Brightsphere Investment Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322 |
|  | &nbsp;&nbsp;&nbsp;Bank of NT Butterfield & Son Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;68436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NMI Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;60626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1267 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Focus Financial Partners Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;24526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914 |
|  | &nbsp;&nbsp;&nbsp;Victory Capital Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;31111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835 |
|  | &nbsp;&nbsp;&nbsp;Westamerica BanCorp. | &nbsp;&nbsp;&nbsp;&nbsp;14031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Palomar Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719 |
|  | &nbsp;&nbsp;&nbsp;Perella Weinberg Partners Class A | &nbsp;&nbsp;&nbsp;&nbsp;70035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686 |
|  | &nbsp;&nbsp;&nbsp;Lincoln National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 |
|  | &nbsp;&nbsp;&nbsp;Hanmi Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Blucora Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522 |
|  | &nbsp;&nbsp;&nbsp;Regional Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Green Dot Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;22177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351 |
|  | &nbsp;&nbsp;&nbsp;Esquire Financial Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Silvergate Capital Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Open Lending Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;18805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 |
|  |  |  | **60304** |
| **Health Care (22.5%)** | **Health Care (22.5%)** | **Health Care (22.5%)** | **Health Care (22.5%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;QuidelOrtho Corp. | &nbsp;&nbsp;&nbsp;&nbsp;236628 | &nbsp;&nbsp;&nbsp;&nbsp;20272 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Merit Medical Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;265205 | &nbsp;&nbsp;&nbsp;&nbsp;18729 |
|  | &nbsp;&nbsp;&nbsp;Cooper Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45944 | &nbsp;&nbsp;&nbsp;&nbsp;15192 |
|  | &nbsp;&nbsp;&nbsp;STERIS plc | &nbsp;&nbsp;&nbsp;&nbsp;80831 | &nbsp;&nbsp;&nbsp;&nbsp;14929 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Henry Schein Inc. | &nbsp;&nbsp;&nbsp;&nbsp;155576 | &nbsp;&nbsp;&nbsp;&nbsp;12426 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Certara Inc. | &nbsp;&nbsp;&nbsp;&nbsp;546533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8783 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;HealthEquity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;137700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8488 |
|  | &nbsp;&nbsp;&nbsp;Teleflex Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7968 |
|  | &nbsp;&nbsp;&nbsp;Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;89558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7423 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Nevro Corp. | &nbsp;&nbsp;&nbsp;&nbsp;185780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7357 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Pediatrix Medical Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;419115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6228 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Veracyte Inc. | &nbsp;&nbsp;&nbsp;&nbsp;251908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5978 |
|  | &nbsp;&nbsp;&nbsp;Bruker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;81185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5549 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Agios Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;168102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4720 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SpringWorks Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;179375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4666 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Medpace Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4579 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Inspire Medical Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4555 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Legend Biotech Corp. ADR | &nbsp;&nbsp;&nbsp;&nbsp;86299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4308 |
|  | &nbsp;&nbsp;&nbsp;Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4293 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CareDx Inc. | &nbsp;&nbsp;&nbsp;&nbsp;372774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4253 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AMN Healthcare Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4205 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CorVel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Doximity Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;117592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3946 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Omnicell Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3819 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;IQVIA Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3730 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Charles River Laboratories International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3667 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Shockwave Medical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3568 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sotera Health Co. | &nbsp;&nbsp;&nbsp;&nbsp;426167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arvinas Inc. | &nbsp;&nbsp;&nbsp;&nbsp;102669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3512 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alkermes plc | &nbsp;&nbsp;&nbsp;&nbsp;129049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Align Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3335 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Relay Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;221172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3304 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Axogen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;322548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3219 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sarepta Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3180 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ionis Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3024 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;C4 Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;504148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2974 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Neurocrine Biosciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2658 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Veeva Systems Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;13567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2189 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Avantor Inc. | &nbsp;&nbsp;&nbsp;&nbsp;102242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;STAAR Surgical Co. | &nbsp;&nbsp;&nbsp;&nbsp;42219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Evolent Health Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;72699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2041 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Lantheus Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1856 |
|  | &nbsp;&nbsp;&nbsp;Stevanato Group SpA | &nbsp;&nbsp;&nbsp;&nbsp;102842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Deciphera Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;108788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1783 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ViewRay Inc. | &nbsp;&nbsp;&nbsp;&nbsp;377288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;HealthStream Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1651 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;TG Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;137223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1623 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Exact Sciences Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1612 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Apellis Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1582 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Haemonetics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532 |
|  | &nbsp;&nbsp;&nbsp;West Pharmaceutical Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1528 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sangamo Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;476639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1497 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Novocure Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Exelixis Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NuVasive Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1305 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Agenus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;542592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Coherus Biosciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;163876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Puma Biotechnology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;298187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PTC Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213 |
|  | &nbsp;&nbsp;&nbsp;iRadimed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1184 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ACADIA Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Intercept Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1152 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cerus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;309492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Atara Biotherapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;338786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1111 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arrowhead Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Natera Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Protagonist Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Rigel Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;635318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Axonics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Heron Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;345855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CytomX Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;532095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Akebia Therapeutics Inc. | 1422702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Karyopharm Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;240905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Affimed NV | &nbsp;&nbsp;&nbsp;&nbsp;653577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Masimo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Kiniksa Pharmaceuticals Ltd. Class A | &nbsp;&nbsp;&nbsp;&nbsp;52211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;iRhythm Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;FibroGen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MacroGenics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;111566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sorrento Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;761346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Innovage Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;85882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AtriCure Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Y-mAbs Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;118802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NGM Biopharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;111040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Precision BioSciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;462172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Silk Road Medical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Inogen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Option Care Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Novavax Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Selecta Biosciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;413816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Surmodics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Health Catalyst Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arcturus Therapeutics Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Teladoc Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;WaVe Life Sciences Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;45825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Voyager Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Bridgebio Pharma Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PetIQ Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;24229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Relmada Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219 |
|  | &nbsp;&nbsp;&nbsp;Ensign Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ultragenyx Pharmaceutical Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NanoString Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Joint Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Glaukos Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MEI Pharma Inc. | &nbsp;&nbsp;&nbsp;&nbsp;739217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Pieris Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;170392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Spectrum Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;475988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Viemed Healthcare Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Amedisys Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Pennant Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Infinity Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;265397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tactile Systems Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cue Biopharma Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Aadi Bioscience Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Gritstone bio Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ImmunoGen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cross Country Healthcare Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Avalo Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fortress Biotech Inc. | &nbsp;&nbsp;&nbsp;&nbsp;151271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Homology Medicines Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Assembly Biosciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Celularity Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Harpoon Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Retractable Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Aquestive Therapeutics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Molecular Templates Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Athenex Inc. | &nbsp;&nbsp;&nbsp;&nbsp;202067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 |
|  |  |  | **298560** |

---

------

Small Company Growth Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **Industrials (20.3%)** | **Industrials (20.3%)** | **Industrials (20.3%)** | **Industrials (20.3%)** |
|  | &nbsp;&nbsp;&nbsp;Ritchie Bros Auctioneers Inc. | &nbsp;&nbsp;&nbsp;&nbsp;390920 | &nbsp;&nbsp;&nbsp;&nbsp;22607 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alight Inc. Class A | 2257492 | &nbsp;&nbsp;&nbsp;&nbsp;18873 |
|  | &nbsp;&nbsp;&nbsp;Sensata Technologies Holding plc | &nbsp;&nbsp;&nbsp;&nbsp;450460 | &nbsp;&nbsp;&nbsp;&nbsp;18190 |
|  | &nbsp;&nbsp;&nbsp;Forward Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;126456 | &nbsp;&nbsp;&nbsp;&nbsp;13264 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ACV Auctions Inc. Class A | 1528583 | &nbsp;&nbsp;&nbsp;&nbsp;12550 |
|  | &nbsp;&nbsp;&nbsp;Tennant Co. | &nbsp;&nbsp;&nbsp;&nbsp;153831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9471 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;TriNet Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;127136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8620 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Kirby Corp. | &nbsp;&nbsp;&nbsp;&nbsp;121046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7789 |
|  | &nbsp;&nbsp;&nbsp;Matson Inc. | &nbsp;&nbsp;&nbsp;&nbsp;119297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7457 |
|  | &nbsp;&nbsp;&nbsp;John Bean Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;71904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6567 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Generac Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5514 |
|  | &nbsp;&nbsp;&nbsp;Applied Industrial Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5416 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;WillScot Mobile Mini Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;117617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5313 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Atkore Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5217 |
|  | &nbsp;&nbsp;&nbsp;UFP Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4963 |
|  | &nbsp;&nbsp;&nbsp;Allison Transmission Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;115029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4785 |
|  | &nbsp;&nbsp;&nbsp;CH Robinson Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4725 |
|  | &nbsp;&nbsp;&nbsp;EMCOR Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4669 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cimpress plc | &nbsp;&nbsp;&nbsp;&nbsp;159310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4399 |
|  | &nbsp;&nbsp;&nbsp;Watts Water Technologies Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;27181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3975 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;GMS Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3868 |
|  | &nbsp;&nbsp;&nbsp;Kforce Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3576 |
|  | &nbsp;&nbsp;&nbsp;Heartland Express Inc. | &nbsp;&nbsp;&nbsp;&nbsp;229491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3520 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Middleby Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3506 |
|  | &nbsp;&nbsp;&nbsp;Howmet Aerospace Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3399 |
|  | &nbsp;&nbsp;&nbsp;Terex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;76805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3281 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Rocket Lab USA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;854676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3222 |
|  | &nbsp;&nbsp;&nbsp;Tetra Tech Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2954 |
|  | &nbsp;&nbsp;&nbsp;Carlisle Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2934 |
|  | &nbsp;&nbsp;&nbsp;Lincoln Electric Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929 |
|  | &nbsp;&nbsp;&nbsp;AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2907 |
|  | &nbsp;&nbsp;&nbsp;Robert Half International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2759 |
|  | &nbsp;&nbsp;&nbsp;Valmont Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556 |
|  | &nbsp;&nbsp;&nbsp;H&E Equipment Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2540 |
|  | &nbsp;&nbsp;&nbsp;Advanced Drainage Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2373 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Titan International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;150521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2306 |
|  | &nbsp;&nbsp;&nbsp;Heidrick & Struggles International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;76224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2132 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SP Plus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2115 |
|  | &nbsp;&nbsp;&nbsp;Korn Ferry | &nbsp;&nbsp;&nbsp;&nbsp;38478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 |
|  | &nbsp;&nbsp;&nbsp;GrafTech International Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;408087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942 |
|  | &nbsp;&nbsp;&nbsp;Veritiv Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1813 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Heritage-Crystal Clean Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Axon Enterprise Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767 |
|  | &nbsp;&nbsp;&nbsp;Marten Transport Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;89113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1763 |
|  | &nbsp;&nbsp;&nbsp;Spirit AeroSystems Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;57665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1707 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MRC Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;128892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1493 |
|  | &nbsp;&nbsp;&nbsp;Apogee Enterprises Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474 |
|  | &nbsp;&nbsp;&nbsp;Exponent Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sterling Check Corp. | &nbsp;&nbsp;&nbsp;&nbsp;92518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Masonite International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1387 |
|  | &nbsp;&nbsp;&nbsp;Herc Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372 |
|  | &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;13118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Forrester Research Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Franklin Covey Co. | &nbsp;&nbsp;&nbsp;&nbsp;27222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1273 |
|  | &nbsp;&nbsp;&nbsp;Boise Cascade Co. | &nbsp;&nbsp;&nbsp;&nbsp;17317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1189 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Enerpac Tool Group Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;44846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141 |
|  | &nbsp;&nbsp;&nbsp;Graco Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Lyft Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;98901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090 |
|  | &nbsp;&nbsp;&nbsp;Fortune Brands Innovations Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ASGN Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 |
|  | &nbsp;&nbsp;&nbsp;Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879 |
|  | &nbsp;&nbsp;&nbsp;CRA International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 |
|  | &nbsp;&nbsp;&nbsp;Universal Logistics Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;WESCO International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 |
|  | &nbsp;&nbsp;&nbsp;Kadant Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MYR Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sterling Infrastructure Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637 |
|  | &nbsp;&nbsp;&nbsp;Wabash National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Daseke Inc. | &nbsp;&nbsp;&nbsp;&nbsp;110467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Array Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584 |
|  | &nbsp;&nbsp;&nbsp;Donaldson Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Shoals Technologies Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;20404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Enovix Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Hireright Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;ESS Tech Inc. | &nbsp;&nbsp;&nbsp;&nbsp;155370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Chart Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 |
|  | &nbsp;&nbsp;&nbsp;Allegion plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CIRCOR International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 |
|  | &nbsp;&nbsp;&nbsp;Trinity Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Saia Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 |
|  | &nbsp;&nbsp;&nbsp;Insteel Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 |
|  | &nbsp;&nbsp;&nbsp;Brink's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 |
|  | &nbsp;&nbsp;&nbsp;Mueller Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 |
|  | &nbsp;&nbsp;&nbsp;Global Industrial Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 |
|  |  |  | **269869** |
| **Information Technology (20.6%)** | **Information Technology (20.6%)** | **Information Technology (20.6%)** | **Information Technology (20.6%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Momentive Global Inc. | 1833117 | &nbsp;&nbsp;&nbsp;&nbsp;12832 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Trimble Inc. | &nbsp;&nbsp;&nbsp;&nbsp;253262 | &nbsp;&nbsp;&nbsp;&nbsp;12805 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;GLOBALFOUNDRIES Inc. | &nbsp;&nbsp;&nbsp;&nbsp;231319 | &nbsp;&nbsp;&nbsp;&nbsp;12466 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ON Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;195824 | &nbsp;&nbsp;&nbsp;&nbsp;12214 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Euronet Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;127633 | &nbsp;&nbsp;&nbsp;&nbsp;12046 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;N-Able Inc. | &nbsp;&nbsp;&nbsp;&nbsp;968249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9954 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Smartsheet Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;244028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9605 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dynatrace Inc. | &nbsp;&nbsp;&nbsp;&nbsp;237410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9093 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Monday.com Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;65723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8018 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Okta Inc. | &nbsp;&nbsp;&nbsp;&nbsp;117007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7995 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Consensus Cloud Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;138035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7421 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;8x8 Inc. | 1575263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6805 |
|  | &nbsp;&nbsp;&nbsp;Jabil Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6235 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DocuSign Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;111158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6160 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tenable Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;153946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5873 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fair Isaac Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5731 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sumo Logic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;706032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5719 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dropbox Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;249897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5593 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Lattice Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;85187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5527 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Manhattan Associates Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4996 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Qualtrics International Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;473195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4912 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Axcelis Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4477 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Nutanix Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;162116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4223 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Box Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;133762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4164 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Wix.com Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;51413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3950 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Pure Storage Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;146664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3925 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cadence Design Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3847 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Extreme Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;188485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3451 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Domo Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;239921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3416 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ExlService Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3236 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;RingCentral Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;85077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3012 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Yext Inc. | &nbsp;&nbsp;&nbsp;&nbsp;448234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2927 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CommVault Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2902 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Paylocity Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CommScope Holding Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;384716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2828 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Impinj Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Elastic NV | &nbsp;&nbsp;&nbsp;&nbsp;49868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2568 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MaxLinear Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2530 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Synaptics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Everbridge Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Diodes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2122 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Super Micro Computer Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2112 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Teradata Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1992 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Rapid7 Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984 |
|  | &nbsp;&nbsp;&nbsp;CSG Systems International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1881 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;New Relic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1672 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;International Money Express Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1623 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;eGain Corp. | &nbsp;&nbsp;&nbsp;&nbsp;174153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Agilysys Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Atlassian Corp. Ltd. Class A | &nbsp;&nbsp;&nbsp;&nbsp;10905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403 |
|  | &nbsp;&nbsp;&nbsp;Amkor Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Toast Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;76586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arlo Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;324493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SMART Global Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Globant SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047 |
|  | &nbsp;&nbsp;&nbsp;Pegasystems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959 |
|  | &nbsp;&nbsp;&nbsp;CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PTC Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;EPAM Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;BigCommerce Holdings Inc. Series 1 | &nbsp;&nbsp;&nbsp;&nbsp;99321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Infinera Corp. | &nbsp;&nbsp;&nbsp;&nbsp;123248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Brightcove Inc. | &nbsp;&nbsp;&nbsp;&nbsp;155847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zuora Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;127985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814 |
|  | &nbsp;&nbsp;&nbsp;Vishay Intertechnology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793 |
|  | &nbsp;&nbsp;&nbsp;Genpact Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Varonis Systems Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;25913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NCR Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ePlus Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Diebold Nixdorf Inc. | &nbsp;&nbsp;&nbsp;&nbsp;379924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539 |
|  | &nbsp;&nbsp;&nbsp;Jack Henry & Associates Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531 |
|  | &nbsp;&nbsp;&nbsp;A10 Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AvidXchange Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503 |
|  | &nbsp;&nbsp;&nbsp;TTEC Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;FormFactor Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;LivePerson Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Aeva Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;225320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ACM Research Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;37312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sanmina Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Upland Software Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PDF Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Kaltura Inc. | &nbsp;&nbsp;&nbsp;&nbsp;130995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Perficient Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Unisys Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Payoneer Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Squarespace Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Workiva Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SkyWater Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 |
|  |  |  | **273486** |
| **Materials (3.3%)** | **Materials (3.3%)** | **Materials (3.3%)** | **Materials (3.3%)** |
|  | &nbsp;&nbsp;&nbsp;Graphic Packaging Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;505611 | &nbsp;&nbsp;&nbsp;&nbsp;11250 |
|  | &nbsp;&nbsp;&nbsp;Eagle Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5152 |
|  | &nbsp;&nbsp;&nbsp;Chemours Co. | &nbsp;&nbsp;&nbsp;&nbsp;109849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3364 |
|  | &nbsp;&nbsp;&nbsp;Warrior Met Coal Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988 |
|  | &nbsp;&nbsp;&nbsp;Olin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;55288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2927 |

---

------

Small Company Growth Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ingevity Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2733 |
|  | &nbsp;&nbsp;&nbsp;AdvanSix Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2191 |
|  | &nbsp;&nbsp;&nbsp;American Vanguard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;86245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1872 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;O-I Glass Inc. | &nbsp;&nbsp;&nbsp;&nbsp;101840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1687 |
|  | &nbsp;&nbsp;&nbsp;Myers Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371 |
|  | &nbsp;&nbsp;&nbsp;Alpha Metallurgical Resources Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288 |
|  | &nbsp;&nbsp;&nbsp;Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1176 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Constellium SE Class A | &nbsp;&nbsp;&nbsp;&nbsp;71203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;LSB Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 |
|  | &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743 |
|  | &nbsp;&nbsp;&nbsp;Innospec Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734 |
|  | &nbsp;&nbsp;&nbsp;Chase Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Livent Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571 |
|  | &nbsp;&nbsp;&nbsp;Kronos Worldwide Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 |
|  | &nbsp;&nbsp;&nbsp;Berry Global Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 |
|  | &nbsp;&nbsp;&nbsp;Sylvamo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 |
|  | &nbsp;&nbsp;&nbsp;Koppers Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Century Aluminum Co. | &nbsp;&nbsp;&nbsp;&nbsp;16825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 |
|  |  |  | **43623** |
| **Real Estate (1.2%)** | **Real Estate (1.2%)** | **Real Estate (1.2%)** | **Real Estate (1.2%)** |
|  | &nbsp;&nbsp;&nbsp;Essential Properties Realty Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;149245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3503 |
|  | &nbsp;&nbsp;&nbsp;Outfront Media Inc. | &nbsp;&nbsp;&nbsp;&nbsp;172209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2855 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;National Storage Affiliates Trust | &nbsp;&nbsp;&nbsp;&nbsp;70145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2534 |
|  | &nbsp;&nbsp;&nbsp;Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;41970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003 |
|  | &nbsp;&nbsp;&nbsp;DigitalBridge Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;171892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880 |
|  | &nbsp;&nbsp;&nbsp;NexPoint Residential Trust Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1706 |
|  | &nbsp;&nbsp;&nbsp;Hersha Hospitality Trust Class A | &nbsp;&nbsp;&nbsp;&nbsp;146071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245 |
|  | &nbsp;&nbsp;&nbsp;CareTrust REIT Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 |
|  | &nbsp;&nbsp;&nbsp;Gladstone Commercial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 |
|  |  |  | **16092** |
| **Utilities (0.7%)** | **Utilities (0.7%)** | **Utilities (0.7%)** | **Utilities (0.7%)** |
|  | &nbsp;&nbsp;&nbsp;Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011 |
|  | &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;56236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3560 |
|  | &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Infrastructure Corp. Class A (XTSE) | &nbsp;&nbsp;&nbsp;&nbsp;10812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Pure Cycle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 |
|  |  |  | **9743** |
| **Total Common Stocks<br> (Cost $1,499,813)** | **Total Common Stocks<br> (Cost $1,499,813)** | **Total Common Stocks<br> (Cost $1,499,813)** | **1266700** |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Market<br> Value• ($000)** |
| **Temporary Cash Investments (5.4%)** | **Temporary Cash Investments (5.4%)** | **Temporary Cash Investments (5.4%)** | **Temporary Cash Investments (5.4%)** |
| **Money Market Fund (5.4%)** | **Money Market Fund (5.4%)** | **Money Market Fund (5.4%)** | **Money Market Fund (5.4%)** |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% **(Cost $71,291)** | &nbsp;&nbsp;&nbsp;&nbsp;712956 | **71289** |
| **Total Investments (100.8%) (Cost $1,571,104)** | **Total Investments (100.8%) (Cost $1,571,104)** | **Total Investments (100.8%) (Cost $1,571,104)** | **1337989** |
| **Other Assets and Liabilities—Net (-0.8%)** | **Other Assets and Liabilities—Net (-0.8%)** | **Other Assets and Liabilities—Net (-0.8%)** | **(10415)** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **1327574** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| \* | Non-income-producing security. |
| 1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $13,364,000. |
| 2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 3 | Collateral of $13,798,000 was received for securities on loan. |
|  | ADR—American Depositary Receipt. |
|  | REIT—Real Estate Investment Trust. |

---

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| E-mini Russell 2000 Index | March 2023 | 472 | 41793 | &nbsp;&nbsp;(478) |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Small Company Growth Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value<sup>1</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $1,499,813) | 1266700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $71,291) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71289 |
| Total Investments in Securities | &nbsp;&nbsp;1337989 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2754 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349 |
| **Total Assets** | **1343082** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684 |
| Collateral for Securities on Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13798 |
| Payables to Investment Advisor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15508** |
| **Net Assets** | &nbsp;&nbsp;**1327574** |
| 1 Includes $13,364,000 of securities on loan. |  |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;1616819 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;(289245) |
| **Net Assets** | &nbsp;&nbsp;**1327574** |
| **Net Assets** |  |
| **Applicable to 89,846,580 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**1327574** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$14.78** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Small Company Growth Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9261 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1014 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;10745 |
| **Expenses** |  |
| Investment Advisory Fees—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic Fee | &nbsp;&nbsp;&nbsp;&nbsp;1838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Adjustment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(354) |
| The Vanguard Group—Note C |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;2729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;4383 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;**6362** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2</sup> | &nbsp;&nbsp;(52662) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;(5575) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;**(58237)** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | (427526) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;(2120) |
| **Change in Unrealized Appreciation (Depreciation)** | **(429646)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(481521)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $56,000. |
| 2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $987,000, ($9000), less than $1,000, and $6,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4393 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;(58237) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510053 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(429646) | &nbsp;&nbsp;&nbsp;&nbsp;(224931) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(481521) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289515 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;(435138) | &nbsp;&nbsp;&nbsp;&nbsp;(116289) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;106836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169090 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;435138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116289 |
| Redeemed | &nbsp;&nbsp;&nbsp;(241319) | &nbsp;&nbsp;&nbsp;&nbsp;(645010) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;300655 | &nbsp;&nbsp;&nbsp;&nbsp;(359631) |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(616004) | &nbsp;&nbsp;&nbsp;&nbsp;(186405) |
| **Net Assets** |  |  |
| **Beginning of Period** | **1943578** | &nbsp;&nbsp;&nbsp;**2129983** |
| **End of Period** | &nbsp;&nbsp;**1327574** | &nbsp;&nbsp;&nbsp;**1943578** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Small Company Growth Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$26.50** | &nbsp;&nbsp;&nbsp;**$24.49** | &nbsp;&nbsp;&nbsp;**$23.08** | &nbsp;&nbsp;&nbsp;**$20.30** | &nbsp;&nbsp;&nbsp;**$24.62** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.123 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.677) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.563) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.604) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.440) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.057) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.101) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.143) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.118) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.103) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.059) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.070) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.553) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.777) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6.116) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.213) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.671) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.880) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$14.78** | &nbsp;&nbsp;&nbsp;**$26.50** | &nbsp;&nbsp;&nbsp;**$24.49** | &nbsp;&nbsp;&nbsp;**$23.08** | &nbsp;&nbsp;&nbsp;**$20.30** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-25.35%** | &nbsp;&nbsp;&nbsp;**14.22%** | &nbsp;&nbsp;&nbsp;**23.18%** | &nbsp;&nbsp;&nbsp;**28.05%** | &nbsp;&nbsp;&nbsp;**-7.22%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$1328 | &nbsp;&nbsp;&nbsp;$1944 | &nbsp;&nbsp;&nbsp;$2130 | &nbsp;&nbsp;&nbsp;$2111 | &nbsp;&nbsp;&nbsp;$1827 |
| Ratio of Total Expenses to Average Net Assets<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.29% | &nbsp;&nbsp;&nbsp;0.30% | &nbsp;&nbsp;&nbsp;0.30% | &nbsp;&nbsp;&nbsp;0.32% | &nbsp;&nbsp;&nbsp;0.32% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;0.43% | &nbsp;&nbsp;&nbsp;0.21% | &nbsp;&nbsp;&nbsp;0.52% | &nbsp;&nbsp;&nbsp;0.59% | &nbsp;&nbsp;&nbsp;0.52% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;64% | &nbsp;&nbsp;&nbsp;57%<sup>3</sup> | &nbsp;&nbsp;&nbsp;53% | &nbsp;&nbsp;&nbsp;58% | &nbsp;&nbsp;&nbsp;66% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Includes performance-based investment advisory fee increases (decreases) of (0.02%), (0.02%), (0.02%), 0.01%, and 0.01%. |
| 3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the portfolio's capital shares. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Small Company Growth Portfolio

Notes to Financial Statements

The Small Company Growth Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the portfolio's pricing time. When fair-value pricing is employed, the prices of securities used by a portfolio to calculate its net asset value may differ from quoted or published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The portfolio uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The portfolio may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 3% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

------

Small Company Growth Portfolio

5. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

6. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** The investment advisory firm ArrowMark Colorado Holdings, LLC, provides investment advisory services to a portion of the portfolio for a fee calculated at an annual percentage rate of average net assets managed by
the advisor. The basic fee of ArrowMark Colorado Holdings, LLC, is subject to quarterly adjustments based on performance relative to the Russell 2500 Growth Index for the proceeding five years.

Vanguard provides investment advisory services to a portion of the portfolio as described below; the portfolio paid Vanguard advisory fees of $391,000 for the year ended December 31, 2022.

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Small Company Growth Portfolio

For the year ended December 31, 2022, the aggregate investment advisory fee paid to all advisors represented an effective annual rate of 0.12% of the portfolio's average net assets, before a net decrease of $354,000 (0.02%) based on performance.

**C.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative,
marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of
trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $51,000, representing less than 0.01% of the portfolio's net assets and 0.02% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**D.** Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies
used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments and derivatives was determined based on Level 1 inputs.

**E.** Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications
have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; and the recognition of unrealized gains or losses from certain derivative contracts. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5521 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;(47993) |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(246773) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;118700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75873 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;316438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40416 |
| Total | &nbsp;&nbsp;&nbsp;435138 | &nbsp;&nbsp;&nbsp;&nbsp;116289 |

---

\* Includes short-term capital gains, if any.

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Small Company Growth Portfolio

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1584762 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122466 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(369239) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(246773) |

---

**F.** During the year ended December 31, 2022, the portfolio purchased $925,039,000 of investment securities and sold $1,027,708,000 of investment securities, other than temporary cash investments.

The portfolio purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $1,588,000 and sales were $3,879,000, resulting in net realized gain of $1,148,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

**G.** Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;6280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6408 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;24081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 |
| Redeemed | (13856) | &nbsp;&nbsp;(24681) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;16505 | &nbsp;&nbsp;(13623) |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 52% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**H.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Small Company Growth Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Small Company Growth Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 15, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

------

#### Tax information (unaudited)
For corporate shareholders, 100%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $173,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $316,439,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

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![](tm231735d7smlcomgrwti006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

#### CFA<sup>®</sup> is a registered trademark owned by CFA Institute.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690SCG 022023

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![](tm231735d7totlbndmrkti001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Total Bond Market Index Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Total Bond Market Index Portfolio returned –13.21%, in line
with the –13.07% return of its benchmark, the Bloomberg U.S. Aggregate Float Adjusted Index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which weighed on bond prices and increased fears of recession.

• Bond yields rose across the maturity spectrum, with the steepest climb at the shorter end. In general, longer maturities and lower credit-quality issues did worse for the full year, though the trend was
reversing in the final months as markets anticipated that the Federal Reserve would moderate future rate hikes.

• Over the past decade, the portfolio recorded an average annual return of 0.92%, in line with its benchmark index.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take insurance-related
expenses into account.

*Market Barometer*

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| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 | Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Total Bond Market Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$969.90 | &nbsp;&nbsp;&nbsp;&nbsp;$0.70 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.14%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

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Total Bond Market Index Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7totlbndmrkti002.gif)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7totlbndmrkti003.jpg) | &nbsp;&nbsp;&nbsp;Total Bond Market Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-13.21% | &nbsp;&nbsp;&nbsp;&nbsp;-0.10% | &nbsp;&nbsp;&nbsp;&nbsp;0.92% | &nbsp;&nbsp;&nbsp;&nbsp;$10963 |
| ![](tm231735d7totlbndmrkti004.jpg) | &nbsp;&nbsp;&nbsp;Bloomberg U.S. Aggregate Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11130 |

---

See Financial Highlights for dividend and capital gains information.

------

Total Bond Market Index Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Asset-Backed/Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;2.6% |
| Corporate Bonds | 27.2 |
| Sovereign Bonds | &nbsp;&nbsp;&nbsp;3.4 |
| Taxable Municipal Bonds | &nbsp;&nbsp;&nbsp;0.7 |
| U.S. Government and Agency Obligations | 66.1 |

---

The table reflects the portfolio's investments, except for short-term investments. The agency and mortgage-backed securities may include issues from government-sponsored enterprises; such issues are generally not backed by the full faith and credit of the U.S. government.

The portfolio may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking its target index as closely as possible.

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Total Bond Market Index Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| **U.S. Government and Agency Obligations (65.7%)** | **U.S. Government and Agency Obligations (65.7%)** | **U.S. Government and Agency Obligations (65.7%)** | **U.S. Government and Agency Obligations (65.7%)** | **U.S. Government and Agency Obligations (65.7%)** |
| **U.S. Government Securities (44.2%)** | **U.S. Government Securities (44.2%)** | **U.S. Government Securities (44.2%)** | **U.S. Government Securities (44.2%)** | **U.S. Government Securities (44.2%)** |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.875% | 1/31/24 | 11085 | &nbsp;&nbsp;&nbsp; 10633 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 1/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;3215 | &nbsp;&nbsp;&nbsp; 3130 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 1/31/24 | &nbsp;&nbsp; 7419 | &nbsp;&nbsp;&nbsp; 7243 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.125% | 2/15/24 | &nbsp;&nbsp; 7010 | &nbsp;&nbsp; 6660 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 2/15/24 | 10710 | &nbsp;&nbsp;&nbsp; 10476 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 2/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;4487 | &nbsp;&nbsp; 4325 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 2/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;8725 | &nbsp;&nbsp; 8470 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 2/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;6712 | &nbsp;&nbsp; 6537 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 3/15/24 | 13259 | &nbsp;&nbsp;&nbsp; 12571 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 3/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;3802 | &nbsp;&nbsp; 3683 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 3/31/24 | 14577 | &nbsp;&nbsp;&nbsp; 14142 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 4/15/24 | &nbsp;&nbsp; 7645 | &nbsp;&nbsp;&nbsp; 7234 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 4/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;1260 | &nbsp;&nbsp;&nbsp; 1216 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 4/30/24 | &nbsp;&nbsp; 7559 | &nbsp;&nbsp;&nbsp; 7319 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 4/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;4350 | &nbsp;&nbsp; 4226 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 5/15/24 | &nbsp;&nbsp; 7700 | &nbsp;&nbsp;&nbsp; 7248 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 5/15/24 | 12130 | &nbsp;&nbsp;&nbsp; 11772 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 5/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;5454 | &nbsp;&nbsp; 5254 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 5/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp; 3608 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 6/15/24 | 11780 | &nbsp;&nbsp;&nbsp; 11057 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;8060 | &nbsp;&nbsp;&nbsp; 7725 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;4955 | &nbsp;&nbsp;&nbsp; 4763 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;6035 | &nbsp;&nbsp; 5889 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;9735 | &nbsp;&nbsp;&nbsp; 9117 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 7/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;9127 | &nbsp;&nbsp; 8729 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 7/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;4736 | &nbsp;&nbsp; 4555 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 7/31/24 | &nbsp;&nbsp; 12010 | &nbsp;&nbsp;&nbsp; 11712 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 8/15/24 | 12985 | &nbsp;&nbsp;&nbsp; 12131 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 8/15/24 | 11564 | &nbsp;&nbsp;&nbsp; 11158 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 8/31/24 | &nbsp;&nbsp; 7475 | &nbsp;&nbsp;&nbsp; 7077 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 8/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;4655 | &nbsp;&nbsp; 4451 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;9330 | &nbsp;&nbsp; 8693 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 9/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;5785 | &nbsp;&nbsp; 5492 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 9/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;3394 | &nbsp;&nbsp; 3256 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 9/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp; 980 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;8830 | &nbsp;&nbsp; 8244 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 10/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;9070 | &nbsp;&nbsp; 8591 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 10/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;5980 | &nbsp;&nbsp;&nbsp; 5742 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;9540 | &nbsp;&nbsp; 8905 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 11/15/24 | 12681 | &nbsp;&nbsp;&nbsp; 12178 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 7.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 11/30/24 | &nbsp;&nbsp; 7847 | &nbsp;&nbsp;&nbsp; 7424 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 11/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;9554 | &nbsp;&nbsp;&nbsp; 9144 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 11/30/24 | &nbsp;&nbsp; 7381 | &nbsp;&nbsp;&nbsp; 7382 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.000% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 12/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;9765 | &nbsp;&nbsp; 9268 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 12/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;5095 | &nbsp;&nbsp; 4881 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 12/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 349 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 1/15/25 | 10365 | &nbsp;&nbsp; 9696 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 1/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;4405 | &nbsp;&nbsp;&nbsp; 4137 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 1/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;5590 | &nbsp;&nbsp;&nbsp; 5374 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;6240 | &nbsp;&nbsp; 5871 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;8624 | &nbsp;&nbsp; 8205 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 2/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;5386 | &nbsp;&nbsp; 5027 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 2/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;2513 | &nbsp;&nbsp; 2427 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 3/15/25 | &nbsp;&nbsp; 7025 | &nbsp;&nbsp; 6635 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 3/31/25 | &nbsp;&nbsp; 13674 | &nbsp;&nbsp;&nbsp; 12554 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 3/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;1961 | &nbsp;&nbsp; 1888 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 4/15/25 | 10291 | &nbsp;&nbsp; 9900 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;5094 | &nbsp;&nbsp; 4649 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;4060 | &nbsp;&nbsp; 3928 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 5/15/25 | 12735 | &nbsp;&nbsp;&nbsp; 12098 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;5755 | &nbsp;&nbsp; 5546 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 5/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;9593 | &nbsp;&nbsp; 8703 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;6350 | &nbsp;&nbsp;&nbsp; 6138 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 6/15/25 | 11785 | &nbsp;&nbsp;&nbsp; 11385 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;9064 | &nbsp;&nbsp; 8209 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;4880 | &nbsp;&nbsp; 4699 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 7/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;8797 | &nbsp;&nbsp;&nbsp; 7937 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 7/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;5105 | &nbsp;&nbsp; 4931 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 8/15/25 | 25480 | &nbsp;&nbsp; 24051 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2294 | &nbsp;&nbsp; 2227 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.875% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2085 | &nbsp;&nbsp; 2209 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 8/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;6080 | &nbsp;&nbsp; 5465 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;4085 | &nbsp;&nbsp; 3925 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.500% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp; 4409 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;5675 | &nbsp;&nbsp; 5094 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;8390 | &nbsp;&nbsp; 8383 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.250% | 10/31/25 | &nbsp;&nbsp; 7765 | &nbsp;&nbsp; 6942 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 10/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;4015 | &nbsp;&nbsp; 3878 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 11/15/25 | 10421 | &nbsp;&nbsp; 9861 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 11/15/25 | 15135 | &nbsp;&nbsp;&nbsp; 15230 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 11/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;9330 | &nbsp;&nbsp; 8345 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 11/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;6285 | &nbsp;&nbsp; 6046 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;5375 | &nbsp;&nbsp; 5341 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;9293 | &nbsp;&nbsp; 8300 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp; 3982 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 1/31/26 | 12245 | &nbsp;&nbsp;&nbsp; 10890 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 1/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp; 4491 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 2/15/26 | 10836 | &nbsp;&nbsp;&nbsp; 10018 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 2/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;4701 | &nbsp;&nbsp;&nbsp; 4188 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 3/31/26 | &nbsp;&nbsp; 11152 | &nbsp;&nbsp; 9995 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 3/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;6250 | &nbsp;&nbsp; 5889 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 4/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;2731 | &nbsp;&nbsp; 2441 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 4/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;4780 | &nbsp;&nbsp;&nbsp; 4514 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 5/15/26 | 10789 | &nbsp;&nbsp; 9931 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 5/31/26 | 11025 | &nbsp;&nbsp; 9831 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.125% | 5/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;4595 | &nbsp;&nbsp; 4297 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.875% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;3977 | &nbsp;&nbsp; 3554 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;3535 | &nbsp;&nbsp; 3279 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 7/31/26 | 14300 | &nbsp;&nbsp;&nbsp; 12631 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 7/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;6966 | &nbsp;&nbsp; 6440 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 8/15/26 | 10068 | &nbsp;&nbsp;&nbsp; 9177 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.750% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 683 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 8/31/26 | 12214 | &nbsp;&nbsp;&nbsp; 10811 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 8/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp; 2809 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.875% | 9/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;2340 | &nbsp;&nbsp; 2078 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 9/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;5215 | &nbsp;&nbsp; 4771 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 10/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;9930 | &nbsp;&nbsp; 8880 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 10/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;6275 | &nbsp;&nbsp; 5726 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 11/15/26 | 11221 | &nbsp;&nbsp;&nbsp; 10371 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.500% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp; 827 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 11/30/26 | 10220 | &nbsp;&nbsp;&nbsp; 9166 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 11/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;5070 | &nbsp;&nbsp; 4622 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 12/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;9191 | &nbsp;&nbsp; 8227 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 12/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;4983 | &nbsp;&nbsp; 4560 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 1/31/27 | &nbsp;&nbsp; 7454 | &nbsp;&nbsp; 6727 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;6372 | &nbsp;&nbsp; 5926 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.625% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 71 |

---

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Total Bond Market Index Portfolio

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 2/28/27 | &nbsp;&nbsp; 7683 | &nbsp;&nbsp; 6829 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;8238 | &nbsp;&nbsp;&nbsp; 7543 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 3/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;5063 | &nbsp;&nbsp; 4393 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 3/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;3855 | &nbsp;&nbsp;&nbsp; 3617 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 4/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;4290 | &nbsp;&nbsp; 3693 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 4/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;5620 | &nbsp;&nbsp; 5324 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 5/15/27 | 10931 | &nbsp;&nbsp;&nbsp; 10187 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 5/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;6605 | &nbsp;&nbsp; 5663 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 5/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;8160 | &nbsp;&nbsp;&nbsp; 7691 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 6/30/27 | &nbsp;&nbsp; 7990 | &nbsp;&nbsp; 6833 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.250% | 6/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;9864 | &nbsp;&nbsp; 9534 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 7/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;8560 | &nbsp;&nbsp;&nbsp; 7261 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 7/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;5284 | &nbsp;&nbsp; 4998 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;8422 | &nbsp;&nbsp;&nbsp; 7789 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.375% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 8/31/27 | &nbsp;&nbsp; 7825 | &nbsp;&nbsp; 6660 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/31/27 | &nbsp;&nbsp; 7888 | &nbsp;&nbsp;&nbsp; 7587 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.375% | 9/30/27 | &nbsp;&nbsp; 7875 | &nbsp;&nbsp; 6636 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;2865 | &nbsp;&nbsp; 2875 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.500% | 10/31/27 | &nbsp;&nbsp; 11115 | &nbsp;&nbsp; 9397 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 10/31/27 | &nbsp;&nbsp; 4011 | &nbsp;&nbsp; 4025 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;8402 | &nbsp;&nbsp;&nbsp;&nbsp; 7740 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.125% | 11/15/27 | 10839 | &nbsp;&nbsp;&nbsp; 11803 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 11/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;8128 | &nbsp;&nbsp; 6902 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 11/30/27 | 14660 | &nbsp;&nbsp;&nbsp; 14578 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 12/31/27 | 11975 | &nbsp;&nbsp;&nbsp; 10143 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 12/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 994 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.750% | 1/31/28 | 12285 | &nbsp;&nbsp;&nbsp; 10446 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;8180 | &nbsp;&nbsp;&nbsp; 7687 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 2/29/28 | 10060 | &nbsp;&nbsp; 8707 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 3/31/28 | &nbsp;&nbsp; 11761 | &nbsp;&nbsp;&nbsp; 10221 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 4/30/28 | 10814 | &nbsp;&nbsp; 9381 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/28 | 12080 | &nbsp;&nbsp;&nbsp; 11396 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 5/31/28 | 10615 | &nbsp;&nbsp;&nbsp; 9189 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 6/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;9941 | &nbsp;&nbsp; 8591 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.000% | 7/31/28 | 11480 | &nbsp;&nbsp; 9754 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 8/15/28 | 11632 | &nbsp;&nbsp;&nbsp; 10950 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 5.500% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 8/31/28 | &nbsp;&nbsp; 10610 | &nbsp;&nbsp; 9063 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 9/30/28 | &nbsp;&nbsp; 11767 | &nbsp;&nbsp;&nbsp; 10105 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 10/31/28 | 10725 | &nbsp;&nbsp; 9257 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 11/15/28 | 11328 | &nbsp;&nbsp;&nbsp; 10799 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 5.250% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;1655 | &nbsp;&nbsp; 1751 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 11/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;9995 | &nbsp;&nbsp; 8677 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 12/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;3490 | &nbsp;&nbsp; 3009 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 1/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;8040 | &nbsp;&nbsp;&nbsp; 7061 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 2/15/29 | 10133 | &nbsp;&nbsp; 9368 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/28/29 | &nbsp;&nbsp;&nbsp;&nbsp;8640 | &nbsp;&nbsp;&nbsp; 7653 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 3/31/29 | 16780 | &nbsp;&nbsp;&nbsp; 15267 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 4/30/29 | &nbsp;&nbsp; 7750 | &nbsp;&nbsp;&nbsp; 7256 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;9195 | &nbsp;&nbsp; 8358 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 5/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;6730 | &nbsp;&nbsp; 6248 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.250% | 6/30/29 | &nbsp;&nbsp; 7145 | &nbsp;&nbsp; 6834 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.625% | 7/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;8050 | &nbsp;&nbsp;&nbsp; 7412 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;4730 | &nbsp;&nbsp;&nbsp; 4102 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/31/29 | &nbsp;&nbsp; 2010 | &nbsp;&nbsp; 1908 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 9/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;4525 | &nbsp;&nbsp; 4490 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 10/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;5925 | &nbsp;&nbsp; 5926 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791 | &nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 11/30/29 | 12793 | &nbsp;&nbsp;&nbsp; 12703 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 12/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;1770 | &nbsp;&nbsp;&nbsp; 1761 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.500% | 2/15/30 | &nbsp;&nbsp; 7154 | &nbsp;&nbsp; 6092 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 5/15/30 | 14554 | &nbsp;&nbsp;&nbsp; 11511 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 6.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp; 1538 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.625% | 8/15/30 | 18852 | &nbsp;&nbsp;&nbsp; 14831 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 0.875% | 11/15/30 | &nbsp;&nbsp; 17961 | &nbsp;&nbsp;&nbsp; 14352 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 2/15/31 | 14940 | &nbsp;&nbsp;&nbsp; 12169 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 5.375% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;1540 | &nbsp;&nbsp; 1687 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 5/15/31 | 19034 | &nbsp;&nbsp;&nbsp; 16009 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 8/15/31 | 18757 | &nbsp;&nbsp;&nbsp; 15220 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 11/15/31 | 22353 | &nbsp;&nbsp;&nbsp; 18186 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/15/32 | 22053 | &nbsp;&nbsp;&nbsp; 18690 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/32 | 18654 | &nbsp;&nbsp;&nbsp; 17185 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/15/32 | &nbsp;&nbsp; 17860 | &nbsp;&nbsp;&nbsp; 16244 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.125% | 11/15/32 | 19632 | &nbsp;&nbsp; 20025 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp; 1279 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 5.000% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp; 1138 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559 | &nbsp;&nbsp; 594 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.500% | 2/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;1320 | &nbsp;&nbsp; 1240 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;2247 | &nbsp;&nbsp;&nbsp; 2313 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.500% | 8/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;2216 | &nbsp;&nbsp; 2347 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;1742 | &nbsp;&nbsp;&nbsp; 1816 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.625% | 2/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 1396 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 5/15/40 | &nbsp;&nbsp; 7810 | &nbsp;&nbsp; 4892 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;1875 | &nbsp;&nbsp; 1950 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.125% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;8405 | &nbsp;&nbsp; 5228 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.875% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;2515 | &nbsp;&nbsp; 2453 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 11/15/40 | 10129 | &nbsp;&nbsp; 6587 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.250% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;2195 | &nbsp;&nbsp; 2244 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/15/41 | 12303 | &nbsp;&nbsp; 8697 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.750% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;2556 | &nbsp;&nbsp; 2780 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 5/15/41 | 10495 | &nbsp;&nbsp;&nbsp; 7890 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.375% | 5/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;1904 | &nbsp;&nbsp;&nbsp; 1974 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.750% | 8/15/41 | &nbsp;&nbsp; 13741 | &nbsp;&nbsp;&nbsp; 9410 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.750% | 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;2140 | &nbsp;&nbsp; 2032 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 11/15/41 | &nbsp;&nbsp; 11218 | &nbsp;&nbsp;&nbsp; 8019 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;2701 | &nbsp;&nbsp; 2332 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;9361 | &nbsp;&nbsp;&nbsp; 7145 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;2081 | &nbsp;&nbsp; 1793 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;1720 | &nbsp;&nbsp; 1446 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.250% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;9030 | &nbsp;&nbsp;&nbsp; 7920 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;2895 | &nbsp;&nbsp; 2329 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.375% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;2057 | &nbsp;&nbsp; 1839 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;4646 | &nbsp;&nbsp; 3728 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;4207 | &nbsp;&nbsp;&nbsp; 4123 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;3880 | &nbsp;&nbsp; 3308 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 653 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.625% | 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;5305 | &nbsp;&nbsp; 4878 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.750% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 656 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.625% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;5452 | &nbsp;&nbsp; 5004 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.375% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;5869 | &nbsp;&nbsp;&nbsp; 5171 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 8/15/44 | &nbsp;&nbsp; 7731 | &nbsp;&nbsp; 6526 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 11/15/44 | &nbsp;&nbsp; 7512 | &nbsp;&nbsp;&nbsp; 6201 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 2/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;8120 | &nbsp;&nbsp;&nbsp; 6117 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;6002 | &nbsp;&nbsp; 4943 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;3991 | &nbsp;&nbsp;&nbsp; 3214 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;1914 | &nbsp;&nbsp;&nbsp; 1574 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 2/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;3915 | &nbsp;&nbsp; 2928 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.500% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;6456 | &nbsp;&nbsp; 4820 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 8/15/46 | &nbsp;&nbsp; 6110 | &nbsp;&nbsp; 4329 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;2765 | &nbsp;&nbsp;&nbsp; 2216 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;4490 | &nbsp;&nbsp;&nbsp; 3676 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;4615 | &nbsp;&nbsp; 3778 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;6988 | &nbsp;&nbsp; 5460 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.750% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;5833 | &nbsp;&nbsp; 4557 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;8479 | &nbsp;&nbsp; 6954 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.125% | 5/15/48 | &nbsp;&nbsp; 7684 | &nbsp;&nbsp; 6465 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 8/15/48 | &nbsp;&nbsp; 7810 | &nbsp;&nbsp;&nbsp; 6414 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.375% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;4590 | &nbsp;&nbsp; 4052 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 2/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;8344 | &nbsp;&nbsp; 6879 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp; 3945 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;5029 | &nbsp;&nbsp; 3541 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;5907 | &nbsp;&nbsp; 4282 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;8212 | &nbsp;&nbsp; 5434 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.250% | 5/15/50 | 11066 | &nbsp;&nbsp; 5967 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.375% | 8/15/50 | 11786 | &nbsp;&nbsp; 6563 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.625% | 11/15/50 | 12196 | &nbsp;&nbsp;&nbsp; 7276 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 2/15/51 | 13054 | &nbsp;&nbsp;&nbsp; 8310 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.375% | 5/15/51 | 13225 | &nbsp;&nbsp; 9506 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.000% | 8/15/51 | 12950 | &nbsp;&nbsp; 8492 |
| &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 1.875% | 11/15/51 | 11835 | &nbsp;&nbsp;&nbsp; 7517 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.250% | 2/15/52 | 11907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8307 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 2.875% | 5/15/52 | 10830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8698 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 3.000% | 8/15/52 | 13503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11178 |
|  | &nbsp;&nbsp;&nbsp;United States Treasury Note/Bond | 4.000% | 11/15/52 | 10155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10199 |
|  |  |  |  |  | **1756575** |
| **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** | **Agency Bonds and Notes (1.1%)** |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 0.900% | 1/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 0.250% | 2/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 2.625% | 5/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 782 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 2.625% | 6/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 3.250% | 6/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 3.100% | 6/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 3.375% | 8/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 979 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 4.250% | 9/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 819 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 0.875% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 4.500% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 803 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 1.750% | 2/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 492 |
|  | &nbsp;&nbsp;&nbsp;Federal Farm Credit Banks Funding Corp. | 4.250% | 9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 2.500% | 2/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 2.125% | 2/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 437 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 3.125% | 6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1466 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 4.875% | 6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 2.750% | 6/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 487 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 1.500% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 4.500% | 10/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 0.500% | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 916 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 0.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 1.250% | 12/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 893 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 3.250% | 11/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks | 5.500% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1534 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 1.500% | 2/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1129 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 0.375% | 7/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1357 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 0.375% | 9/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1798 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 6.750% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 6.750% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;1525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1780 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. | 6.250% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;1102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1274 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;1028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 984 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 1.625% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 920 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 1.625% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1228 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.625% | 4/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 917 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.500% | 6/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.375% | 8/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1804 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.500% | 11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1797 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 2.125% | 4/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 1.875% | 9/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.750% | 10/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 858 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 6.250% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 7.125% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1085 |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 7.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1098 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 6.625% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 832 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Federal National Mortgage Assn. | 5.625% | 7/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 3.550% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 2.450% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 1.750% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 3.250% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Private Export Funding Corp. | 1.400% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 2.875% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 0.750% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 6.750% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 7.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1167 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 1.500% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 4.650% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 5.880% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 5.500% | 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 5.250% | 9/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 4.875% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 4.625% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Valley Authority | 4.250% | 9/15/65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
|  |  |  |  |  | **42279** |
| **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** | **Conventional Mortgage-Backed Securities (20.4%)** |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 2.000% | 6/1/51–<br> 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 3.000% | 3/1/52–<br> 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1502 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 4.500% | 7/1/52–<br> 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1602 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 5.000% | 7/1/52–<br> 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1654 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool | 4.000% | 8/1/52–<br> 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2491 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 7.000% | 4/1/23–<br> 2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 7.500% | 4/1/23–<br> 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 4.500% | 5/1/23–<br> 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;5283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5217 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 5.000% | 9/1/23–<br> 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;1602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1621 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 5.500% | 1/1/24–<br> 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;1253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1270 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 4.000% | 6/1/24–<br> 11/1/48 | 10378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10000 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 8.500% | 7/1/24–<br> 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 8.000% | 11/1/24–<br> 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 3.500% | 9/1/25–<br> 11/1/48 | 19424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18132 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 3.000% | 10/1/26–<br> 8/1/47 | &nbsp;&nbsp; 17822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16238 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 2.500% | 4/1/27–<br> 2/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;5215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4864 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 9.000% | 5/1/27–<br> 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 6.000% | 7/1/28–<br> 3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 933 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Gold Pool | 2.000% | 8/1/28–<br> 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 2.000% | 5/1/37–<br> 4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 2.500% | 1/1/52–<br> 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1830 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 4.000% | 7/1/52–<br> 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;3258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3064 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 4.500% | 7/1/52–<br> 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;3342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3226 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 590 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 4.000% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 576 |

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------

Total Bond Market Index Portfolio

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 4.500% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 5.000% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;1351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1339 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 5.500% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1358 |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae | 6.000% | 1/23/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 8.000% | 3/15/23–<br> 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 7.000% | 8/15/23–<br> 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 6.500% | 11/15/23–<br> 12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 7.500% | 12/15/23–<br> 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 4.000% | 10/15/24–<br> 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;1132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1097 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 4.500% | 10/15/24–<br> 3/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1220 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 3.500% | 11/15/25–<br> 9/15/49 | &nbsp;&nbsp; 1116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1053 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 3.000% | 1/15/26–<br> 12/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;1256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 6.000% | 6/15/32–<br> 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae I Pool | 5.000% | 5/15/34–<br> 4/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 863 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 3.500% | 9/20/25–<br> 7/20/52 | 28649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26769 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 4.000% | 9/20/25–<br> 11/20/52 | 18701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18025 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 3.000% | 2/20/27–<br> 6/20/52 | 38140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34293 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 2.500% | 6/20/27–<br> 5/20/52 | &nbsp;&nbsp; 37946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33099 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 5.000% | 12/20/32–<br> 11/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;6495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6495 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 6.500% | 12/20/35–<br> 11/20/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 7.000% | 8/20/36–<br> 4/20/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 4.500% | 2/20/39–<br> 12/20/52 | 13497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13276 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 2.000% | 8/20/50–<br> 1/20/52 | 38236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 1.500% | 12/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 846 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool | 5.500% | 10/20/52–<br> 12/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;1749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1760 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 7.000% | 6/1/23–<br> 11/1/37 | &nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 7.500% | 6/1/23–<br> 2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 5.000% | 7/1/23–<br> 1/12/53 | &nbsp;&nbsp; 17812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17724 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 8.000% | 7/1/23–<br> 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 4.500% | 9/1/23–<br> 1/12/53 | 25910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25336 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 2.000% | 11/1/23–<br> 4/1/52 | 204531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170595 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 5.500% | 12/1/23–<br> 1/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;9289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9395 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 4.000% | 2/1/24–<br> 10/1/52 | 38216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36577 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 6.000% | 3/1/24–<br> 1/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;2683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2770 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 8.500% | 10/1/24–<br> 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 3.500% | 9/1/25–<br> 10/1/52 | 52298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48598 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 3.000% | 11/1/25–<br> 6/1/52 | &nbsp;&nbsp; 87725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78792 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 2.500% | 1/1/27–<br> 6/1/52 | 143785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124154 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 1.500% | 7/1/35–<br> 9/1/51 | 50968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41194 |
| <sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;UMBS Pool | 6.500% | 1/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 794 |
|  |  |  |  |  | **808665** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** | **Nonconventional Mortgage-Backed Securities (0.0%)** |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.290% | 1.779% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.310% | 2.762% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp; 21 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.388% | 2.972% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.433% | 3.140% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.474% | 2.129% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 28 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.555% | 3.806% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.560% | 2.308% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp; 42 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.597% | 3.849% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.601% | 3.417% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.606% | 3.028% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.623% | 1.998% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.627% | 2.127% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.635% | 1.885% | 11/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.640% | 1.890% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.660% | 1.910% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.670% | 2.045% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.671% | 3.377% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.680% | 2.844% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.685% | 1.935% | 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.690% | 2.259% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.690% | 3.225% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.690% | 3.940% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp; 21 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.695% | 3.945% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.698% | 3.948% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.700% | 4.075% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.700% | 1.950% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.701% | 2.242% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.705% | 1.955% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.716% | 2.527% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.733% | 3.045% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.735% | 3.479% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.747% | 3.852% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.750% | 3.910% | 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.751% | 2.982% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.764% | 2.093% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.771% | 2.432% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.780% | 2.280% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.781% | 3.284% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.794% | 2.464% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.795% | 2.446% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.796% | 3.359% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.805% | 3.618% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.805% | 2.055% | 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.810% | 2.060% | 11/1/33–<br> 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.813% | 2.556% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.813% | 2.063% | 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.813% | 2.075% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.815% | 2.065% | 11/1/40–<br> 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.815% | 2.231% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.815% | 3.447% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.815% | 2.107% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.825% | 2.575% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.830% | 2.308% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 13 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.830% | 4.080% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.834% | 2.153% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.835% | 2.107% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.835% | 3.210% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.839% | 2.089% | 12/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.840% | 4.090% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.880% | 2.938% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 12M USD LIBOR + 1.909% | 3.289% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 1YR CMT + 2.155% | 2.280% | 12/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 1YR CMT + 2.313% | 2.438% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 6M USD LIBOR + 1.058% | 1.592% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Pool, 6M USD LIBOR + 1.840% | 3.090% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.532% | 3.551% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.625% | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.640% | 1.890% | 12/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.640% | 3.305% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.660% | 1.910% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.665% | 1.915% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.695% | 2.074% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.727% | 1.996% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.743% | 1.993% | 12/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.745% | 1.995% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.750% | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.830% | 2.050% | 12/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.846% | 2.141% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 3.357% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 3.612% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 4.130% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 2.130% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 2.216% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 2.380% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.880% | 3.864% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.887% | 2.658% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.894% | 3.536% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.900% | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.900% | 2.150% | 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910% | 2.201% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910% | 2.390% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 1.910% | 2.410% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 2.005% | 2.989% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 12M USD LIBOR + 2.085% | 2.585% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 1YR CMT + 2.250% | 2.375% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 1YR CMT + 2.250% | 2.489% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 1YR CMT + 2.250% | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 1YR CMT + 2.411% | 2.567% | 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Non Gold Pool, 6M USD LIBOR + 1.355% | 2.020% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 1.500% | 1.625% | 7/20/38–<br> 8/20/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 1.500% | 1.750% | 10/20/38–<br> 12/20/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 1.500% | 2.625% | 1/20/41–<br> 3/20/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 1.500% | 2.875% | 4/20/41–<br> 6/20/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 2.000% | 2.250% | 11/20/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 2.000% | 3.375% | 5/20/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Ginnie Mae II Pool, 1YR CMT + 2.000% | 4.000% | 5/20/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
|  |  |  |  |  | **883** |
| **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | **Total U.S. Government and Agency Obligations (Cost $2,961,732)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2608402** |
| **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** | **Asset-Backed/Commercial Mortgage-Backed Securities (2.6%)** |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Allya Class A3 Series 2022 -2 | 4.760% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A3 Series 2022-1 | 3.310% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A4 Series 2019-2 | 2.260% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A4 Series 2019-4 | 1.920% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust Class A4 Series 2022-2 | 4.870% | 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Express Credit Account Class A Series 2022-2 | 3.390% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 728 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Express Credit Account Master Trust Class A Series 2021-1 | 0.900% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 395 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Express Credit Account Master Trust Class A Series 2022-3 | 3.750% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 415 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class A3 Series 2021-2 | 0.340% | 12/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class B Series 2020-3 | 0.760% | 12/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class B Series 2021-1 | 0.680% | 10/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust Class C Series 2021-1 | 0.890% | 10/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BA Credit Card Trust Class A1 Series 2020-A1 | 0.340% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BA Credit Card Trust Class A1 Series 2021-A1 | 0.440% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BA Credit Card Trust Class A1 Series 2022-A1 | 3.530% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Banc of America Commercial Mortgage Trust Class A4 Series 2015-UBS7 | 3.705% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Banc of America Commercial Mortgage Trust Class A4 Series 2017-BNK3 | 3.574% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Banc of America Commercial Mortgage Trust Class ASB Series 2015-UBS7 | 3.429% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A2 Series 2018-BNK14 | 4.128% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2017-BNK9 | 3.279% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp; 65 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2018-BNK11 | 4.046% | 3/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2019-BNK19 | 3.183% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2019-BNK20 | 3.011% | 9/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 148 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2019-BNK23 | 2.920% | 12/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 156 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A3 Series 2019-BNK24 | 2.960% | 11/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK6 | 3.254% | 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK7 | 3.175% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK8 | 3.488% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2017-BNK9 | 3.538% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2018-BNK12 | 4.255% | 5/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2018-BNK13 | 3.953% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2018-BNK14 | 4.231% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2018-BNK15 | 4.407% | 11/15/61 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 105 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2019-BNK16 | 4.005% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2019-BNK17 | 3.714% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2019-BNK18 | 3.584% | 5/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2019-BNK22 | 2.978% | 11/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 252 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2020-BNK26 | 2.403% | 3/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 146 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2020-BNK28 | 1.844% | 3/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2020-BNK29 | 1.997% | 11/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2020-BNK30 | 1.925% | 12/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A4 Series 2021-BNK31 | 2.036% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2017-BNK5 | 3.390% | 6/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2017-BNK6 | 3.518% | 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp; 375 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2017-BNK7 | 3.435% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2018-BNK10 | 3.688% | 2/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2018-BNK13 | 4.217% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2019-BNK21 | 2.851% | 10/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2020-BNK25 | 2.649% | 1/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2020-BNK27 | 2.144% | 4/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 122 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BN32 | 2.643% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK33 | 2.556% | 5/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK34 | 2.438% | 6/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK35 | 2.285% | 6/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK36 | 2.470% | 9/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 102 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2021-BNK37 | 2.618% | 11/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class A5 Series 2022-BNK43 | 4.399% | 8/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 165 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2017-BNK5 | 3.624% | 6/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2017-BNK6 | 3.741% | 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp; 363 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2017-BNK7 | 3.748% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2017-BNK8 | 3.731% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2018-BNK10 | 3.898% | 2/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2018-BNK12 | 4.485% | 5/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2018-BNK14 | 4.481% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK17 | 3.976% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK18 | 3.826% | 5/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK21 | 3.093% | 10/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK23 | 3.203% | 12/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2019-BNK24 | 3.283% | 11/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2020-BNK25 | 2.841% | 1/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 53 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2020-BNK26 | 2.687% | 3/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2020-BNK27 | 2.551% | 4/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2021-BNK31 | 2.211% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class AS Series 2021-BNK36 | 2.695% | 9/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BANK Class ASB Series 2018-BNK10 | 3.641% | 2/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class C Series 2017-BNK8 | 4.200% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BANK Class C Series 2019-BNK19 | 4.165% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Bank of America Commercial Mortgage Trust Class AS Series 2017-BNK3 | 3.748% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class A4 Series 2019-C3 | 3.583% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class A4 Series 2019-C5 | 3.063% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 132 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class A5 Series 2019-C4 | 2.919% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 240 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class A5 Series 2022-C14 | 2.946% | 2/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class AS Series 2019-C4 | 3.171% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust Class AS Series 2019-C5 | 3.366% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Barclays Dryrock Issuance Trus Drock Class A Series 2022-1 | 3.070% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A4 Series 2017-C1 | 3.674% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A4 Series 2020-C6 | 2.639% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2018-C2 | 4.314% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2020-C7 | 2.037% | 4/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2020-C8 | 2.040% | 10/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2021-C11 | 2.322% | 9/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2021-C12 | 2.689% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class A5 Series 2021-C9 | 2.299% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 122 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class AS Series 2017-C1 | 3.898% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust Class AS Series 2020-C6 | 2.840% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 28 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BBCMS Trust Class A5 Series 2021-C10 | 2.492% | 7/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 123 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A2 Series 2018-B2 | 3.662% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A2 Series 2018-B3 | 3.848% | 4/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A2 Series 2020-B17 | 2.211% | 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A3 Series 2020-IG1 | 2.687% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2018-B5 | 4.208% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2018-B6 | 4.261% | 10/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2018-B7 | 4.510% | 5/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2019-B10 | 3.717% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A4 Series 2019-B13 | 2.952% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 245 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B1 | 3.666% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B2 | 3.882% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 306 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B3 | 4.025% | 4/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 213 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B4 | 4.121% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 332 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2018-B8 | 4.232% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2019-B14 | 3.049% | 12/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 198 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2019-B15 | 2.928% | 12/15/72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 200 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2019-B9 | 4.016% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 99 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B16 | 2.732% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B17 | 2.289% | 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B20 | 2.034% | 10/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B21 | 1.978% | 12/17/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 99 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2020-B22 | 1.973% | 1/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B23 | 2.070% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 179 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B24 | 2.584% | 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B25 | 2.577% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B25 | 2.847% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B26 | 2.613% | 6/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B28 | 2.224% | 8/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B29 | 2.388% | 9/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2021-B30 | 2.576% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2022-B32 | 3.002% | 1/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 232 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2022-B33 | 3.458% | 3/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2022-B34 | 3.786% | 4/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class A5 Series 2022-B36 | 4.470% | 7/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AM Series 2018-B1 | 3.878% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AM Series 2018-B4 | 4.311% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AM Series 2019-B10 | 3.979% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AM Series 2020-B16 | 2.944% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2018-B2 | 4.084% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2018-B6 | 4.441% | 10/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2018-B8 | 4.532% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2019-B11 | 3.784% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2020-B17 | 2.583% | 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2020-B19 | 2.148% | 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2020-B20 | 2.375% | 10/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 8 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2020-IG1 | 2.909% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2021-B23 | 2.274% | 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2021-B24 | 2.780% | 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust Class AS Series 2022-B32 | 3.528% | 1/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;BMO Mortgage Trust Class A5 Series 2022-C1 | 3.374% | 2/17/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMO Mortgage Trust Class A5 Series 2022-C3 | 5.313% | 9/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust Class A3 Series 2021-1 | 0.290% | 1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust Class A3 Series 2021-2 | 0.330% | 12/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust Class A4 Series 2021-1 | 0.370% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust Class A4 Series 2021-2 | 0.430% | 1/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Owner Trust Class A3 Series 2020-A | 0.480% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;BMW Vehicle Owner Trust Class A3 Series 2022-A | 3.210% | 8/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending Class A4 Series 2019-CF3 | 3.006% | 1/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 115 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending Class A5 Series 2019-CF1 | 3.786% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 113 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending Class A5 Series 2019-CF2 | 2.874% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending Class AS Series 2019-CF3 | 3.298% | 1/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A Series 2022-A2 | 3.490% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 389 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A1 Series 2021-A1 | 0.550% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A1 Series 2022-A1 | 2.800% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 384 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A2 Series 2021-A2 | 1.390% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 375 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A3 Series 2019-A3 | 2.060% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 274 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Multi-Asset Execution Trust Class A3 Series 2021-A3 | 1.040% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 373 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A3 Series 2021-1 | 0.770% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A3 Series 2022-1 | 3.170% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A3 Series 2022-2 | 3.660% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A4 Series 2019-1 | 2.560% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A4 Series 2020-1 | 1.630% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 15 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust Class A4 Series 2022-1 | 3.320% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2020-1 | 1.890% | 12/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2020-3 | 0.620% | 3/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2020-4 | 0.500% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp; 313 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2020-4 | 0.630% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2021-1 | 0.340% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2021-2 | 0.520% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2021-4 | 0.560% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2022-1 | 1.470% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A3 Series 2022-2 | 3.490% | 2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2019-4 | 2.130% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2020-1 | 2.030% | 6/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2020-3 | 0.770% | 3/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2021-2 | 0.810% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust Class A4 Series 2022-1 | 1.700% | 8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust Class A3 Series 2021-P3 | 0.700% | 11/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A3 Series 2019-CD8 | 2.657% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 35 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2016-CD1 | 2.724% | 8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2016-CD2 | 3.526% | 11/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2017-CD3 | 3.631% | 2/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp; 134 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2018-CD7 | 4.279% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A4 Series 2019-CD8 | 2.912% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 384 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class A5 Series 2017-CD6 | 3.456% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AAB Series 2017-CD3 | 3.453% | 2/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AM Series 2017-CD6 | 3.709% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class AS Series 2017-CD3 | 3.833% | 2/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp; 28 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class ASB Series 2017-CD6 | 3.332% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CD Mortgage Trust Class ASB Series 2018-CD7 | 4.213% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CenterPoint Energy Transition Bond Co. IV LLC Class A3 Series 2012-1 | 3.028% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp; 160 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class A3 Series 2016-C3 | 3.865% | 1/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class A3 Series 2016-C6 | 3.217% | 11/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class A4 Series 2016-C4 | 3.283% | 5/10/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class A4 Series 2017-C8 | 3.572% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust Class AM Series 2016-C4 | 3.691% | 5/10/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CGMS Commercial Mortgage Trust Class A4 Series 2017-B1 | 3.458% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 229 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CGMS Commercial Mortgage Trust Class AS Series 2017-B1 | 3.711% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Chase Issuance Trust Class A Series 2022-A1 | 3.970% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citibank Credit Card Issuance Trust Class A3 Series 2007-A3 | 6.150% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 110 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citibank Credit Card Issuance Trust Class A7 Series 2018-A7 | 3.960% | 10/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A2 Series 2018-B2 | 3.788% | 3/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A3 Series 2016-P4 | 2.646% | 7/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A3 Series 2017-C4 | 3.209% | 10/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2013-GC11 | 3.093% | 4/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp; 83 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2013-GC15 | 4.371% | 9/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2014-GC19 | 4.023% | 3/11/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2014-GC23 | 3.622% | 7/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2014-GC25 | 3.635% | 10/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2015-GC29 | 3.192% | 4/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 165 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2015-GC31 | 3.762% | 6/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2015-GC33 | 3.778% | 9/10/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2016-C1 | 3.209% | 5/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2016-GC37 | 3.314% | 4/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2016-P4 | 2.902% | 7/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2017-C4 | 3.471% | 10/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 229 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2018-B2 | 4.009% | 3/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 257 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A4 Series 2019-GC43 | 3.038% | 11/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 237 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2014-GC21 | 3.855% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2015-GC27 | 3.137% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 214 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2016-GC36 | 3.616% | 2/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 447 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2019-GC41 | 2.869% | 8/10/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 192 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2020-GC46 | 2.717% | 2/15/53 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 93 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class A5 Series 2022-GC48 | 4.743% | 5/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AAB Series 2014-GC19 | 3.552% | 3/11/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AAB Series 2016-C1 | 3.003% | 5/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp; 35 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2013-GC15 | 4.649% | 9/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2014-GC19 | 4.345% | 3/11/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2015-GC27 | 3.571% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2017-C4 | 3.764% | 10/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class AS Series 2020-GC46 | 2.918% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 36 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class B Series 2014-GC21 | 4.328% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust Class B Series 2015-GC29 | 3.758% | 4/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp; 77 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CNH Equipment Trust Class A3 Series 2022-A | 2.940% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2012-CR4 | 2.853% | 10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2013-CR11 | 3.983% | 8/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2013-CR12 | 3.765% | 10/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2014-CR21 | 3.528% | 12/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp; 148 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2017-COR2 | 3.510% | 9/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 32 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A3 Series 2018-COR3 | 4.228% | 5/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-CR15 | 4.074% | 2/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 55 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-CR20 | 3.590% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-LC15 | 4.006% | 4/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-UBS3 | 3.819% | 6/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2014-UBS5 | 3.838% | 9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR23 | 3.497% | 5/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR24 | 3.432% | 8/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp; 150 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR25 | 3.759% | 8/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR26 | 3.630% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 213 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-CR27 | 3.612% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2015-LC19 | 3.183% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A4 Series 2016-CR28 | 3.762% | 2/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2013-CR8 | 3.612% | 6/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 59 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2013-LC13 | 4.205% | 8/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp; 36 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-CR17 | 3.977% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-CR19 | 3.796% | 8/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-LC17 | 3.917% | 10/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-UBS2 | 3.961% | 3/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp; 53 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-UBS4 | 3.694% | 8/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2014-UBS6 | 3.644% | 12/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2015-CR22 | 3.309% | 3/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2015-DC1 | 3.350% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2015-PC1 | 3.902% | 7/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class A5 Series 2019-GC44 | 2.950% | 8/15/57 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 98 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2013-CR11 | 4.715% | 8/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 30 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2013-CR12 | 4.300% | 10/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-CR16 | 4.278% | 4/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-CR19 | 4.080% | 8/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-UBS2 | 4.199% | 3/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 15 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-UBS4 | 3.968% | 8/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 42 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2014-UBS6 | 4.048% | 12/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2015-CR22 | 3.603% | 3/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2015-CR23 | 3.801% | 5/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2015-LC19 | 3.527% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class AM Series 2019-GC44 | 3.263% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-CCRE16 | 3.653% | 4/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-CR15 | 3.595% | 2/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-CR17 | 3.598% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-CR18 | 3.452% | 7/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-UBS2 | 3.472% | 3/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2014-UBS6 | 3.387% | 12/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2015-CR23 | 3.257% | 5/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2015-CR27 | 3.404% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2015-LC19 | 3.040% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 9 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class ASB Series 2016-DC2 | 3.550% | 2/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class B Series 2013-CR12 | 4.762% | 10/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class B Series 2014-CR15 | 4.770% | 2/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class B Series 2014-CR17 | 4.377% | 5/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class B Series 2014-UBS2 | 4.701% | 3/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class C Series 2013-LC6 | 4.242% | 1/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust Class C Series 2014-CR15 | 4.820% | 2/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A3 Series 2019-C16 | 3.329% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 243 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A3 Series 2021-C20 | 2.805% | 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 207 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2015-C1 | 3.505% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2015-C2 | 3.504% | 6/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2015-C3 | 3.718% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2015-C4 | 3.808% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2017-C8 | 3.392% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2018-CX12 | 4.224% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A4 Series 2019-C15 | 4.053% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 208 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A5 Series 2016-C7 | 3.502% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A5 Series 2017-CX10 | 3.458% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A5 Series 2017-CX9 | 3.446% | 9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class A5 Series 2018-CX11 | 4.033% | 4/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 256 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class AS Series 2015-C1 | 3.791% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class AS Series 2015-C2 | 3.849% | 6/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class AS Series 2021-C20 | 3.076% | 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class ASB Series 2015-C3 | 3.448% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class ASB Series 2015-C4 | 3.617% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 27 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class B Series 2015-C1 | 4.044% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust Class B Series 2015-C3 | 4.261% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Daimler Trucks Retail Trust Class A3 Series 2022-1 | 5.230% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBGS Mortgage Trust Class A4 Series 2018-C1 | 4.466% | 10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A4 Series 2016-C1 | 3.276% | 5/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A5 Series 2016-C3 | 2.890% | 8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A5 Series 2017-C6 | 3.328% | 6/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class A5 Series 2020-C9 | 1.926% | 8/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;DBJPM Mortgage Trust Class AM Series 2017-C6 | 3.561% | 6/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A Series 2022-A2 | 3.320% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 386 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A Series 2022-A4 | 5.030% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 227 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A1 Series 2021-A1 | 0.580% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 163 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A1 Series 2022-A1 | 1.960% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A2 Series 2021-A2 | 1.030% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust Class A3 Series 2022-A3 | 3.560% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 388 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class B Series 2021-1 | 0.650% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class B Series 2021-2 | 0.580% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 64 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class C Series 2021-1 | 1.020% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class C Series 2021-2 | 0.870% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class D Series 2019-1 | 4.090% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust Class D Series 2021-2 | 1.390% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class B Series 2021-3A | 0.690% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class B Series 2022-2A | 3.650% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class C Series 2020-3A | 1.320% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 38 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class C Series 2021-1A | 0.740% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class C Series 2021-3A | 0.960% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class C Series 2022-2A | 3.850% | 7/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class D Series 2021-3A | 1.550% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 32 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class D Series 2022-1A | 3.020% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust Class D Series 2022-2A | 4.560% | 7/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Multifamily REMIC Trust Class A2 Series 2022-M10 | 2.003% | 1/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 179 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Multifamily REMIC Trust Class A2 Series 2022-M1G | 1.582% | 9/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae Multifamily REMIC Trust Class A2 Series 2022-M8 | 2.001% | 12/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class 1A Series 2014-M7 | 3.321% | 6/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp; 164 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class 2A2 Series 2019-M21 | 2.350% | 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 26 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class 2A2 Series 2021-M13 | 1.681% | 3/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class 3A2 Series 2019-M18 | 2.577% | 9/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A Series 2015-M2 | 2.620% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2013-M14 | 3.329% | 10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M1 | 3.343% | 7/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp; 81 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M13 | 3.021% | 8/25/24 | &nbsp;&nbsp; 101 | &nbsp;&nbsp; 98 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M2 | 3.513% | 12/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp; 101 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M3 | 3.501% | 1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp; 33 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M4 | 3.346% | 3/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp; 78 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M8 | 3.056% | 6/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 68 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2014-M9 | 3.103% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 102 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M1 | 2.532% | 9/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp; 194 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M10 | 3.092% | 4/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 66 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M12 | 2.893% | 5/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M15 | 2.923% | 10/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 133 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M3 | 2.723% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp; 66 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M7 | 2.590% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp; 126 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2015-M8 | 2.900% | 1/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp; 84 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M11 | 2.369% | 7/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp; 222 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M12 | 2.533% | 9/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp; 224 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M13 | 2.591% | 9/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp; 54 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M3 | 2.702% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 77 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M4 | 2.576% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 80 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M42 | 1.270% | 7/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 8 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M5 | 2.469% | 4/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M7 | 2.499% | 9/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 41 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2016-M9 | 2.292% | 6/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M1 | 2.495% | 10/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp; 145 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M12 | 3.164% | 6/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp; 195 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M14 | 2.962% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp; 69 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M2 | 2.851% | 2/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M4 | 2.640% | 12/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp; 132 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M5 | 3.202% | 4/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp; 57 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M7 | 2.961% | 2/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 211 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2017-M8 | 3.061% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp; 430 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M10 | 3.471% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M10 | 3.610% | 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 276 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M12 | 3.766% | 8/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M13 | 3.866% | 9/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp; 154 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M14 | 3.698% | 8/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp; 159 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M4 | 3.158% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2018-M7 | 3.141% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp; 86 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M1 | 3.665% | 9/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 171 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M12 | 2.885% | 6/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 362 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M18 | 2.469% | 8/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M2 | 3.748% | 11/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp; 176 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M5 | 3.273% | 2/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M7 | 3.143% | 4/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp; 180 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2019-M9 | 2.937% | 6/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp; 277 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M1 | 2.444% | 10/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp; 829 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M14 | 1.784% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 206 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M22 | 2.522% | 8/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344 | &nbsp;&nbsp; 303 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M29 | 1.492% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M46 | 1.323% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M5 | 2.210% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2020-M52 | 1.362% | 10/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 216 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M1 | 1.437% | 11/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 47 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M11 | 1.507% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 175 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M13 | 1.658% | 4/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M19 | 1.797% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M1G | 1.515% | 11/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2021-M3G | 1.292% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 176 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2022-M1 | 1.725% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 254 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2022-M3 | 1.764% | 11/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A2 Series 2022-M4 | 2.290% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class A3 Series 2018-M3 | 3.174% | 2/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp; 61 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class APT Series 2013-M12 | 2.496% | 3/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp; 24 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class APT Series 2013-M14 | 2.685% | 4/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class ATS2 Series 2018-M2 | 3.002% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 378 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class AV2 Series 2016-M7 | 2.157% | 10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class AV2 Series 2017-M10 | 2.620% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp; 86 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Fannie Mae-Aces Class AV2 Series 2017-M15 | 3.209% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp; 222 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Fifth Third Auto Trust Class A4 Series 2019-1 | 2.690% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 28 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Lease Trust Class A3 Series 2021-B | 0.370% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2020-A | 1.040% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 5 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2020-B | 0.560% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp; 42 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2020-C | 0.410% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 51 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2021-A | 0.260% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp; 18 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2021-A | 0.300% | 8/15/25 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 111 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2022-A | 1.290% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2022-B | 3.740% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A3 Series 2022-C | 4.480% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2019-A | 2.850% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp; 22 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2020-B | 0.790% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 34 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2020-C | 0.510% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2021-A | 0.300% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2021-A | 0.490% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust Class A4 Series 2022-C | 4.590% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2018-4 | 4.060% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2019-2 | 3.060% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2019-4 | 2.440% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 177 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A Series 2020-2 | 1.060% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust Class A1 Series 2020-1 | 0.700% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 266 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K039 | 2.683% | 12/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K040 | 2.768% | 4/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 34 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K042 | 2.267% | 6/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K043 | 2.532% | 10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K047 | 2.827% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp; 21 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K080 | 3.736% | 4/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp; 84 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K087 | 3.591% | 10/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 82 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K121 | 0.995% | 8/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp; 20 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K122 | 0.863% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K129 | 1.342% | 9/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 37 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K143 | 2.711% | 4/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A1 Series K1520 | 2.007% | 7/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K036 | 3.527% | 10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 321 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K038 | 3.389% | 3/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K039 | 3.303% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 220 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K040 | 3.241% | 9/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 268 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K041 | 3.171% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 267 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K042 | 2.670% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K043 | 3.062% | 12/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K045 | 3.023% | 1/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 154 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K046 | 3.205% | 3/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K047 | 3.329% | 5/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K048 | 3.284% | 6/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 314 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K049 | 3.010% | 7/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K050 | 3.334% | 8/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K052 | 3.151% | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K053 | 2.995% | 12/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K056 | 2.525% | 5/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K058 | 2.653% | 8/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K064 | 3.224% | 3/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 285 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K065 | 3.243% | 4/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433 | &nbsp;&nbsp;&nbsp; 412 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K066 | 3.117% | 6/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K067 | 3.194% | 7/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 474 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K068 | 3.244% | 8/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K069 | 3.187% | 9/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K070 | 3.303% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K071 | 3.286% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 213 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K072 | 3.444% | 12/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K073 | 3.350% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K074 | 3.600% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K075 | 3.650% | 2/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K076 | 3.900% | 4/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 341 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K078 | 3.854% | 6/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K079 | 3.926% | 6/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K080 | 3.926% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 170 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K081 | 3.900% | 8/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 340 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K082 | 3.920% | 9/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K083 | 4.050% | 9/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 1660 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K084 | 3.780% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 264 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K085 | 4.060% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 219 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K087 | 3.771% | 12/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 385 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K088 | 3.690% | 1/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 263 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K089 | 3.563% | 1/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K090 | 3.422% | 2/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K091 | 3.505% | 3/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 426 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K092 | 3.298% | 4/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 210 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K093 | 2.982% | 5/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 367 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K094 | 2.903% | 6/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 250 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K095 | 2.785% | 6/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 249 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K096 | 2.519% | 7/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 200 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K098 | 2.425% | 8/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 397 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K099 | 2.595% | 9/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 187 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K101 | 2.524% | 10/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 327 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K102 | 2.537% | 10/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 310 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K103 | 2.651% | 11/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 267 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K104 | 2.253% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 385 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K105 | 1.872% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 80 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K106 | 2.069% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp; 1108 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K107 | 1.639% | 1/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K108 | 1.517% | 3/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 123 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K109 | 1.558% | 4/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 348 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K110 | 1.477% | 4/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K111 | 1.350% | 5/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K114 | 1.366% | 6/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K116 | 1.378% | 7/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 256 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K117 | 1.406% | 8/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K118 | 1.493% | 9/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 321 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K120 | 1.500% | 10/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 240 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K121 | 1.547% | 10/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 141 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K122 | 1.521% | 11/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K124 | 1.658% | 12/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K125 | 1.846% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 573 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K126 | 2.074% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 209 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K127 | 2.108% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 355 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K128 | 2.020% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 207 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K129 | 1.914% | 5/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 328 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K130 | 1.723% | 6/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K131 | 1.853% | 7/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 325 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K132 | 2.023% | 8/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K133 | 2.096% | 9/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K134 | 2.243% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K135 | 2.154% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 104 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K138 | 2.476% | 1/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K140 | 2.250% | 1/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K143 | 2.350% | 3/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K148 | 3.500% | 7/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 647 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1510 | 3.718% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1511 | 3.470% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1514 | 2.859% | 10/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 191 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1515 | 1.940% | 2/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 115 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1516 | 1.721% | 5/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 158 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1517 | 1.716% | 7/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 18 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1518 | 1.860% | 10/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1519 | 2.013% | 12/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K152 | 3.080% | 1/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1520 | 2.438% | 2/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1521 | 2.184% | 8/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 114 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K1522 | 2.361% | 10/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 113 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K155 | 3.750% | 11/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K157 | 3.990% | 5/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K158 | 3.900% | 12/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K159 | 3.950% | 11/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K723 | 2.454% | 8/25/23 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 113 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K724 | 3.062% | 11/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp; 91 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K726 | 2.905% | 4/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp; 134 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K727 | 2.946% | 7/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K728 | 3.064% | 8/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp; 237 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K729 | 3.136% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 873 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K730 | 3.590% | 1/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 259 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K731 | 3.600% | 2/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp; 217 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K734 | 3.208% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 360 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K735 | 2.862% | 5/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp; 471 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K738 | 1.545% | 1/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K739 | 1.336% | 9/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K742 | 1.760% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K743 | 1.770% | 5/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K744 | 1.712% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp; 85 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K745 | 1.657% | 8/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K746 | 2.031% | 9/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series K747 | 2.050% | 11/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series KC02 | 3.370% | 7/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 155 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A2 Series KW01 | 2.853% | 1/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K1510 | 3.794% | 1/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 362 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K1511 | 3.542% | 3/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K1513 | 2.797% | 8/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 277 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K154 | 3.459% | 11/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>1,2</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K155 | 3.750% | 4/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class A3 Series K157 | 3.990% | 8/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Multifamily Structured Pass Through Certificates Class AM Series K749 | 2.120% | 4/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A3 Series 2021-3 | 0.390% | 10/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A3 Series 2022-1 | 1.900% | 3/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A3 Series 2022-2 | 3.420% | 6/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A3 Series 2022-3 | 4.010% | 9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust Class A4 Series 2021-2 | 0.410% | 5/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2020-3 | 0.450% | 4/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 79 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2020-4 | 0.380% | 8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2021-2 | 0.510% | 4/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 51 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2021-3 | 0.480% | 6/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2021-4 | 0.680% | 9/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2022-1 | 1.260% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2022-2 | 3.100% | 2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2022-3 | 3.640% | 4/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A3 Series 2022-4 | 4.820% | 8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 125 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2020-1 | 1.900% | 3/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2020-3 | 0.580% | 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2021-2 | 0.820% | 10/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust Class A4 Series 2021-3 | 0.730% | 8/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Securitized Term Class A3 Series 2021-1 | 0.350% | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 44 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GM Financial Securitized Term Class A4 Series 2021-1 | 0.540% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 231 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A3 Series 2017-GS6 | 3.433% | 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2014-GC18 | 4.074% | 1/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2015-GC30 | 3.382% | 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2015-GC32 | 3.764% | 7/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2015-GC34 | 3.506% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2016-GS2 | 3.050% | 5/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2016-GS3 | 2.850% | 10/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2016-GS4 | 3.442% | 11/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2017-GS5 | 3.674% | 3/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2017-GS7 | 3.430% | 8/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp; 240 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GC39 | 3.567% | 5/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GC40 | 3.160% | 7/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 132 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GC42 | 3.001% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 235 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A4 Series 2019-GSA1 | 3.048% | 11/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2013-GC13 | 4.176% | 7/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp; 20 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2013-GC14 | 4.243% | 8/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2014-GC22 | 3.862% | 6/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2014-GC24 | 3.931% | 9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2014-GC26 | 3.629% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2015-GC28 | 3.396% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2020-GC45 | 2.911% | 2/13/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 106 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2020-GC47 | 2.377% | 5/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class A5 Series 2020-GSA2 | 2.012% | 12/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AAB Series 2013-GC14 | 3.817% | 8/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AAB Series 2014-GC26 | 3.365% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 28 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AAB Series 2015-GC32 | 3.513% | 7/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 63 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AB Series 2015-GC34 | 3.278% | 10/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2014-GC26 | 3.964% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2016-GS4 | 3.645% | 11/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2017-GS5 | 3.826% | 3/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2017-GS6 | 3.638% | 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2017-GS7 | 3.663% | 8/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 63 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2019-GC42 | 3.212% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2020-GC45 | 3.173% | 2/13/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 30 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class AS Series 2020-GSA2 | 2.224% | 12/12/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class B Series 2014-GC24 | 4.511% | 9/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class B Series 2014-GC26 | 4.215% | 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust Class C Series 2017-GS6 | 4.322% | 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Motorcycle Trust Class A3 Series 2021-B | 0.560% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Motorcycle Trust Class A3 Series 2022-A | 3.060% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Harley-Davidson Motorcycle Trust Class A4 Series 2022-A | 3.260% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2021-1 | 0.270% | 4/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2021-2 | 0.330% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 116 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2021-3 | 0.410% | 11/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2021-4 | 0.880% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2022-1 | 1.880% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A3 Series 2022-2 | 3.730% | 7/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A4 Series 2020-1 | 1.630% | 10/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp; 20 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A4 Series 2020-3 | 0.460% | 4/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust Class A4 Series 2021-1 | 0.420% | 1/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2020-A | 1.410% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2020-B | 0.480% | 12/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp; 16 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2020-C | 0.380% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp; 31 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2021-A | 0.380% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A3 Series 2021-C | 0.740% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A4 Series 2020-B | 0.620% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust Class A4 Series 2021-A | 0.620% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;John Deere Owner Trust Class A3 Series 2021-B | 0.520% | 3/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;John Deere Owner Trust Class A3 Series 2022-C | 5.090% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 175 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;John Deere Owner Trust Class A4 Series 2022-C | 5.200% | 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A4 Series 2013-C16 | 4.166% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A4 Series 2016-JP4 | 3.648% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A5 Series 2013-C10 | 3.143% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A5 Series 2014-C20 | 3.805% | 7/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A5 Series 2015-JP1 | 3.914% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class A5 Series 2016-JP3 | 2.870% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class AS Series 2013-C10 | 3.372% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 39 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class AS Series 2016-JP4 | 3.870% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust Class B Series 2013-LC11 | 3.499% | 4/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A2 Series 2014-C24 | 2.940% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A3 Series 2014-C19 | 3.669% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A3 Series 2015-C31 | 3.801% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp; 89 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2013-C14 | 4.133% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2014-C19 | 3.997% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2014-C22 | 3.801% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2014-C26 | 3.494% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C27 | 3.179% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 56 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C28 | 3.227% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C29 | 3.611% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A4 Series 2015-C33 | 3.770% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp; 78 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2013-C12 | 3.664% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2013-C15 | 4.131% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 64 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C18 | 4.079% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp; 124 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C21 | 3.775% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C23 | 3.934% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 82 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C24 | 3.639% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2014-C25 | 3.672% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2015-C30 | 3.822% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class A5 Series 2015-C32 | 3.598% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2013-C12 | 4.052% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2013-C14 | 4.409% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2013-C15 | 4.420% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 34 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C18 | 4.439% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C19 | 4.243% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C22 | 4.110% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C23 | 4.202% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C24 | 3.914% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C25 | 4.065% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2014-C26 | 3.800% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2015-C28 | 3.532% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class AS Series 2015-C30 | 4.226% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2013-C14 | 3.761% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2013-C15 | 3.659% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2014-C21 | 3.428% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C27 | 3.017% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 51 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C29 | 3.304% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C30 | 3.559% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 54 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C31 | 3.540% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2015-C32 | 3.358% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp; 61 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class ASB Series 2016-C1 | 3.316% | 3/17/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 43 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class B Series 2014-C18 | 4.735% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust Class B Series 2014-C26 | 3.951% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A4 Series 2019-COR5 | 3.386% | 6/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A5 Series 2017-JP5 | 3.723% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 374 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A5 Series 2017-JP6 | 3.490% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class A5 Series 2019-COR4 | 4.029% | 3/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class AS Series 2017-JP6 | 3.744% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMCC Commercial Mortgage Securities Trust Class AS Series 2019-COR5 | 3.669% | 6/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A4 Series 2016-C2 | 3.144% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A4 Series 2018-C8 | 4.211% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 211 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A4 Series 2019-COR6 | 3.057% | 11/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A5 Series 2017-C7 | 3.409% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class A5 Series 2020-COR7 | 2.180% | 5/13/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class AS Series 2016-C2 | 3.484% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class AS Series 2017-C7 | 3.713% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust Class AS Series 2018-C8 | 4.421% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A3 Series 2021-A | 0.250% | 1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp; 32 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A3 Series 2021-B | 0.400% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A4 Series 2020-B | 0.500% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A4 Series 2021-A | 0.320% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust Class A4 Series 2021-B | 0.510% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Receivables Trust Class A3 Series 2021-1 | 0.460% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Receivables Trust Class A4 Series 2020-1 | 0.770% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 9 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A3 Series 2017-C34 | 3.276% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2013-C11 | 4.295% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2014-C19 | 3.526% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C20 | 3.249% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C21 | 3.338% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C22 | 3.306% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C23 | 3.719% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C24 | 3.732% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2015-C27 | 3.753% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2016-C28 | 3.544% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 212 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A4 Series 2017-C34 | 3.536% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2014-C14 | 4.064% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2014-C16 | 3.892% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2015-C25 | 3.635% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2015-C26 | 3.531% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2016-C30 | 2.860% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2016-C31 | 3.102% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class A5 Series 2017-C33 | 3.599% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class AS Series 2013-C7 | 3.214% | 2/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class AS Series 2017-C33 | 3.852% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2014-C16 | 3.477% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2014-C19 | 3.326% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp; 18 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C20 | 3.069% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp; 16 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C22 | 3.040% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 38 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C23 | 3.398% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C25 | 3.383% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 57 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C26 | 3.323% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2015-C27 | 3.557% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 27 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class ASB Series 2016-C28 | 3.288% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 46 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class B Series 2014-C14 | 5.021% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class B Series 2014-C16 | 4.315% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class B Series 2014-C18 | 4.579% | 10/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust Class B Series 2015-C22 | 3.883% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A3 Series 2016-UBS9 | 3.329% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A3 Series 2019-L2 | 3.806% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A3 Series 2020-L4 | 2.698% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 147 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2015-UBS8 | 3.809% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2016-BNK2 | 3.049% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2016-UB11 | 2.782% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 181 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2016-UBS12 | 3.596% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2017-HR2 | 3.587% | 12/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2019-H6 | 3.417% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 223 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2019-L2 | 4.071% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2019-L3 | 3.127% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2020-HR8 | 2.041% | 7/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 52 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A4 Series 2021-L6 | 2.444% | 6/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A5 Series 2017-H1 | 3.530% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A5 Series 2021-L7 | 2.574% | 10/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class A5 Series 2022-L8 | 3.922% | 4/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class AS Series 2016-BNK2 | 3.282% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class AS Series 2019-H6 | 3.700% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust Class AS Series 2020-L4 | 2.880% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Lease Trust Class A3 Series 2021-A | 0.520% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A3 Series 2020-B | 0.550% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A3 Series 2021-A | 0.330% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A3 Series 2022-A | 1.860% | 8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A3 Series 2022-B | 4.460% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A4 Series 2019-C | 1.950% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 34 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A4 Series 2021-A | 0.570% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust Class A4 Series 2022-A | 2.070% | 12/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2021-2 | 0.590% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2021-4 | 0.880% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2022-1 | 2.360% | 8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class B Series 2022-2 | 3.440% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2020-2 | 1.460% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2020-3 | 1.120% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2021-1 | 0.750% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2021-3 | 0.950% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2021-4 | 1.260% | 2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2022-1 | 2.560% | 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class C Series 2022-2 | 3.760% | 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class D Series 2021-2 | 1.350% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 56 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust Class D Series 2021-3 | 1.330% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Synchrony Card Funding LLC Class A Series 2022-A1 | 3.370% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2020-A | 0.260% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2020-B | 1.360% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2020-C | 0.440% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 15 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2020-D | 0.350% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp; 35 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2021-B | 0.260% | 11/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 312 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2021-C | 0.430% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2021-D | 0.710% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2022-B | 2.930% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A3 Series 2022-C | 3.760% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2020-A | 1.680% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2020-A | 0.390% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2020-D | 0.470% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust Class A4 Series 2021-B | 0.530% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A2 Series 2018-C13 | 4.208% | 10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp; 14 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A3 Series 2017-C4 | 3.301% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp; 83 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A3 Series 2018-C8 | 3.720% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp; 115 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C1 | 3.460% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C2 | 3.487% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C3 | 3.426% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 160 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C4 | 3.563% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2017-C7 | 3.679% | 12/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C10 | 4.313% | 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 165 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C13 | 4.334% | 10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C14 | 4.448% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 212 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C15 | 4.341% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2018-C9 | 4.117% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 255 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2019-C16 | 3.605% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2019-C17 | 2.921% | 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 106 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A4 Series 2019-C18 | 3.035% | 12/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A5 Series 2017-C5 | 3.474% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A5 Series 2018-C11 | 4.241% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class A5 Series 2018-C12 | 4.296% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C1 | 3.724% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C2 | 3.740% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C3 | 3.739% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C4 | 3.836% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp; 56 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2017-C7 | 4.061% | 12/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2018-C8 | 4.215% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust Class AS Series 2019-C16 | 3.887% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS-Barclays Commercial Mortgage Trust Class A4 Series 2013-C6 | 3.244% | 4/10/46 | &nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp; 111 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;UBS-Barclays Commercial Mortgage Trust Class AS Series 2013-C6 | 3.469% | 4/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2021-1 | 0.500% | 5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 517 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2021-2 | 0.990% | 4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 326 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2022-2 | 1.530% | 7/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2022-4 | 3.400% | 11/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Master Trust Class A Series 2022-6 | 3.670% | 1/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Verizon Owner Trust Class A Series 2020-C | 0.410% | 4/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Volkswagen Auto Loan Enhanced Trust Class A3 Series 2021-1 | 1.020% | 6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A2 Series 2015-NXS1 | 2.632% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A3 Series 2016-BNK1 | 2.652% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A3 Series 2016-C36 | 2.807% | 11/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A3 Series 2017-C40 | 3.317% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C26 | 3.166% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C27 | 3.190% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C28 | 3.540% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C29 | 3.637% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-C30 | 3.664% | 9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-LC22 | 3.839% | 9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-P2 | 3.809% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2015-SG1 | 3.789% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp; 195 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2016-C33 | 3.426% | 3/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 305 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2016-C34 | 3.096% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2016-LC24 | 2.942% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp; 148 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2017-C40 | 3.581% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2017-C41 | 3.472% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2018-C43 | 4.012% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 258 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2018-C45 | 4.184% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2018-C46 | 4.152% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2018-C47 | 4.442% | 9/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2019-C51 | 3.311% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2019-C53 | 3.040% | 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2019-C54 | 3.146% | 12/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A4 Series 2020-C58 | 2.092% | 7/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2014-LC16 | 3.817% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2014-LC18 | 3.405% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2015-LC20 | 3.184% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp; 261 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2015-NXS1 | 3.148% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2016-C37 | 3.794% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2017-C38 | 3.453% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp; 177 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2017-C39 | 3.418% | 9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2018-C44 | 4.212% | 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2019-C52 | 2.892% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 234 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2020-C55 | 2.725% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2020-C56 | 2.448% | 6/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class A5 Series 2021-C59 | 2.626% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2014-LC18 | 3.808% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2015-C26 | 3.580% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2015-C28 | 3.872% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp; 29 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2015-LC22 | 4.207% | 9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2017-C38 | 3.665% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2017-C39 | 3.702% | 9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2017-C40 | 3.854% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2018-C43 | 4.152% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class AS Series 2019-C52 | 3.143% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-C26 | 2.991% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp; 52 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-C29 | 3.400% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp; 56 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-LC20 | 2.978% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp; 12 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-LC22 | 3.571% | 9/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-NXS1 | 2.934% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp; 15 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2015-P2 | 3.656% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp; 59 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2016-C32 | 3.324% | 1/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp; 35 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class ASB Series 2016-LC24 | 2.825% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 67 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust Class B Series 2015-LC20 | 3.719% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A3 Series 2014-C24 | 3.428% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A4 Series 2013-C13 | 3.001% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp; 76 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A4 Series 2013-C17 | 4.023% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A4 Series 2014-C21 | 3.410% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp; 50 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2013-C16 | 4.415% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 30 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C19 | 4.101% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C20 | 3.995% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C21 | 3.678% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C22 | 3.752% | 9/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C23 | 3.917% | 10/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C24 | 3.607% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 62 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-C25 | 3.631% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class A5 Series 2014-LC14 | 4.045% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 137 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C12 | 3.560% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C13 | 3.345% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 15 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C14 | 3.488% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C15 | 4.358% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C16 | 4.668% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2013-C17 | 4.255% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2014-C20 | 4.176% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class AS Series 2014-LC14 | 4.351% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 58 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2013-C15 | 3.720% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2013-C16 | 3.963% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp; 3 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2013-C17 | 3.558% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp; 4 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2014-C19 | 3.618% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2014-C20 | 3.638% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp; 6 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2014-C23 | 3.636% | 10/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class ASB Series 2014-LC14 | 3.522% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp; 11 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class B Series 2013-C17 | 4.788% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class B Series 2014-C19 | 4.723% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2,4</sup> | &nbsp;&nbsp;&nbsp;WFRBS Commercial Mortgage Trust Class B Series 2014-C22 | 4.371% | 9/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2019-C | 1.960% | 12/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2020-B | 0.630% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp; 21 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2020-C | 0.480% | 11/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp; 30 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2021-A | 0.300% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp; 36 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2021-B | 0.420% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2021-C | 0.440% | 8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2021-D | 0.810% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2022-A | 1.660% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2022-B | 3.250% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A3 Series 2022-C | 3.660% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A4 Series 2020-B | 0.820% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 9 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust Class A4 Series 2020-C | 0.610% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Automobile Lease Securitization Trust Class A3 Series 2021-A | 0.420% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Automobile Lease Securitization Trust Class A4 Series 2020-B | 0.520% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;World Omni Select Auto Trust Class A3 Series 2020-A | 0.550% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp; 7 |
| **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | **Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $115,551)** | &nbsp;&nbsp;&nbsp;&nbsp;**103699** |
| **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** | **Corporate Bonds (27.0%)** |
| **Communications (2.3%)** | **Communications (2.3%)** | **Communications (2.3%)** | **Communications (2.3%)** | **Communications (2.3%)** | **Communications (2.3%)** |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | 3.400% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | 1.350% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | 4.500% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | 2.500% | 9/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 0.450% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 0.800% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 429 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 1.100% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 393 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 1.900% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. | 2.250% | 8/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 3.625% | 4/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 4.700% | 7/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 239 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 6.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 6.125% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 6.125% | 3/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 4.375% | 7/16/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;America Movil SAB de CV | 4.375% | 4/22/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 0.900% | 3/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 475 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 1.700% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 451 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.800% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 667 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 401 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 423 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.100% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp; 383 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp; 619 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.300% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 433 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 374 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 470 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 2.550% | 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.500% | 5/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.900% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 276 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp; 430 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 373 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.300% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.750% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 5.150% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp; 664 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 326 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 424 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.500% | 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;1458 | &nbsp;&nbsp; 992 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.550% | 9/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp; 1047 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.800% | 12/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.650% | 9/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp; 426 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 4.375% | 5/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 3.075% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 3.425% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Baidu Inc. | 2.375% | 8/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Bell Telephone Co. of Canada or Bell Canada | 3.200% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 3.650% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 3.550% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | 4.625% | 4/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 290 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;British Telecommunications plc | 9.625% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp; 616 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.908% | 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 834 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.750% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 2.250% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.050% | 3/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 6.384% | 10/23/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 329 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 6.484% | 10/23/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 329 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp; 476 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 234 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 6.834% | 10/23/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 289 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 4.400% | 12/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 3.950% | 6/30/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.375% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.375% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 482 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.950% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp; 612 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.350% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.150% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 300 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.150% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp; 913 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.250% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 1.950% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 403 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 1.500% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.250% | 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.200% | 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 5.650% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp; 1114 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.400% | 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.200% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 6.450% | 3/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.600% | 10/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.250% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.650% | 7/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.400% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.969% | 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp; 871 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.700% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.999% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.800% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.887% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp; 571 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.937% | 11/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp; 535 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 4.950% | 10/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. | 2.987% | 11/1/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp; 516 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom International Finance BV | 8.750% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp; 914 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.800% | 3/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.900% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.950% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp; 289 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 3.950% | 3/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 5.000% | 9/20/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 6.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 5.200% | 9/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 5.300% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 4.650% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Discovery Communications LLC | 4.000% | 9/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Electronic Arts Inc. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Expedia Group Inc. | 5.000% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Expedia Group Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp;Expedia Group Inc. | 3.250% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Expedia Group Inc. | 2.950% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;Fox Corp. | 4.030% | 1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;Fox Corp. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Fox Corp. | 4.709% | 1/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 363 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. | 5.476% | 1/25/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. | 5.576% | 1/25/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 291 |
|  | &nbsp;&nbsp;&nbsp;Grupo Televisa SAB | 4.625% | 1/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Grupo Televisa SAB | 6.625% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Grupo Televisa SAB | 5.000% | 5/13/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Grupo Televisa SAB | 5.250% | 5/24/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | 4.200% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 206 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | 4.650% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | 4.750% | 3/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | 5.400% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | 8.375% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 140 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 3.428% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 291 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 3.638% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 285 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 3.755% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 722 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 4.279% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 825 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 5.050% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 692 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 5.141% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1028 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Magallanes Inc. | 5.391% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 440 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. | 3.500% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. | 3.850% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. | 4.450% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. | 4.650% | 8/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;NBCUniversal Media LLC | 4.450% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | 2.450% | 4/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. / Omnicom Capital Inc. | 3.650% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. / Omnicom Capital Inc. | 3.600% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;Orange SA | 9.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 673 |
|  | &nbsp;&nbsp;&nbsp;Orange SA | 5.375% | 1/13/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 315 |
|  | &nbsp;&nbsp;&nbsp;Orange SA | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.750% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp; 132 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.000% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 384 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 2.900% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 3.375% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.950% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.200% | 5/19/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 5.500% | 5/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 6.875% | 4/30/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 5.900% | 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.375% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp; 281 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 5.850% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.900% | 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Inc. | 4.950% | 5/19/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 3.625% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 2.900% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 3.200% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 3.800% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 345 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 4.500% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 4.500% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 5.000% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 3.700% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 102 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Rogers Communications Inc. | 4.550% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 3.300% | 3/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 3.550% | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | 3.700% | 4/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 4.103% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 7.045% | 6/20/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 491 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 4.665% | &nbsp;&nbsp;&nbsp;&nbsp;3/6/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 5.213% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 444 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA | 4.895% | &nbsp;&nbsp;&nbsp;&nbsp;3/6/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Telefonica Europe BV | 8.250% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;TELUS Corp. | 2.800% | 2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;TELUS Corp. | 3.400% | 5/13/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;TELUS Corp. | 4.300% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable Enterprises LLC | 8.375% | 7/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 6.550% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 7.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 6.750% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 5.875% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC | 4.500% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.500% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 578 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 1.500% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.250% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.625% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.750% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 754 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 5.375% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.050% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.625% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.400% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.375% | 4/15/29 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.875% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1520 | &nbsp;&nbsp; 1380 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.550% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 733 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.875% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.500% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.250% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 393 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 2.700% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 4.375% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 343 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.000% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 4.500% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 495 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.300% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 667 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.400% | 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA Inc. | 3.600% | 11/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 3.000% | 2/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 1.850% | 7/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 4.375% | 8/16/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 4.125% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 3.700% | 12/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. | 3.000% | 7/30/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp;Verisign Inc. | 2.700% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.376% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 0.850% | 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 447 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 1.450% | 3/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.625% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.125% | 3/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 682 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.000% | 3/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.100% | 3/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 520 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.329% | 9/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp; 798 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.016% | 12/3/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727 | &nbsp;&nbsp; 680 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.150% | 3/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 1.680% | 10/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp; 410 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 1.750% | 1/20/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 387 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.550% | 3/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 658 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.355% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp; 740 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.500% | 8/10/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 539 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.400% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 667 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.272% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 5.250% | 3/16/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.812% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.650% | 11/20/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 473 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.400% | 3/22/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 452 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;9/3/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.750% | 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.125% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.862% | 8/21/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp; 579 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.522% | 9/15/48 | &nbsp;&nbsp; 747 | &nbsp;&nbsp; 639 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 4.000% | 3/22/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.875% | 11/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.550% | 3/22/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 644 |
| &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 2.987% | 10/30/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 552 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.000% | 11/20/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | 3.700% | 3/22/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 491 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 3.750% | 1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 7.875% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 6.250% | 11/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 6.150% | 2/27/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 5.000% | 5/30/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 4.375% | 2/19/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 4.875% | 6/19/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 4.250% | 9/17/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232 |
|  | &nbsp;&nbsp;&nbsp;Vodafone Group plc | 5.125% | 6/19/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.350% | 3/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.700% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 1.750% | 1/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.200% | 1/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 336 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.800% | 3/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.650% | 1/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 598 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 6.200% | 12/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 6.400% | 12/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 6.650% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 4.625% | 3/23/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.500% | 5/13/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 5.400% | 10/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 4.750% | 9/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 4.700% | 3/23/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.600% | 1/13/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | 3.800% | 5/13/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Warnermedia Holdings Inc. | 4.054% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 |
|  | &nbsp;&nbsp;&nbsp;Weibo Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Weibo Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;WPP Finance 2010 | 3.750% | 9/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194 |
|  |  |  |  |  | **89243** |
| **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** | **Consumer Discretionary (1.6%)** |
|  | &nbsp;&nbsp;&nbsp;Advance Auto Parts Inc. | 3.900% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 3.600% | 11/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 3.400% | 12/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 4.500% | 11/28/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 4.000% | 12/6/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 4.200% | 12/6/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 4.400% | 12/6/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 0.450% | 5/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.800% | 8/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.800% | 12/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.000% | 4/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 0.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 5.200% | 12/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 1.000% | 5/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.300% | 4/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.150% | 8/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 683 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.550% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 1.650% | 5/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 430 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.450% | 4/13/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.100% | 5/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.600% | 4/13/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.700% | 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.800% | 12/5/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.875% | 8/22/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.875% | 5/12/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.050% | 8/22/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 508 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.100% | 5/12/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.950% | 4/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 3.250% | 5/12/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 4.100% | 4/13/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 331 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.900% | 2/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 0.550% | 7/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 468 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.150% | 9/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.000% | 3/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 2.250% | 1/12/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp. | 1.800% | 1/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 238 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American University | 3.672% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc | 4.350% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc | 4.400% | 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc | 5.400% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc | 3.100% | 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc / Aptiv Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Aptiv plc / Aptiv Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;AutoNation Inc. | 3.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;AutoNation Inc. | 4.500% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;AutoNation Inc. | 3.800% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;AutoNation Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.125% | 4/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 3.750% | 4/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 4.000% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 231 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 1.650% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;AutoZone Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Best Buy Co. Inc. | 4.450% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;BorgWarner Inc. | 3.375% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;BorgWarner Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;BorgWarner Inc. | 4.375% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Brunswick Corp. | 0.850% | 8/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;California Endowment | 2.498% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 31 |
|  | &nbsp;&nbsp;&nbsp;California Institute of Technology | 4.321% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;California Institute of Technology | 4.700% | 11/1/11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;California Institute of Technology | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Claremont Mckenna College | 3.775% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Daimler Finance North America LLC | 8.500% | 1/18/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Darden Restaurants Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Darden Restaurants Inc. | 4.550% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Dick's Sporting Goods Inc. | 3.150% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Dick's Sporting Goods Inc. | 4.100% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;DR Horton Inc. | 2.500% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke University | 2.682% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke University | 2.832% | 10/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 1.900% | 3/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 1.400% | 5/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 283 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 2.700% | 3/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 2.600% | 5/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 4.000% | 7/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | 3.650% | 5/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Emory University | 2.143% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Emory University | 2.969% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 34 |
|  | &nbsp;&nbsp;&nbsp;Ford Foundation | 2.415% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Ford Foundation | 2.815% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Fortune Brands Innovations Inc. | 4.000% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;Fortune Brands Innovations Inc. | 3.250% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 6.125% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp; 612 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 6.800% | 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.600% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 6.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 6.250% | 10/2/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 1.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.950% | 4/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 392 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 1.200% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.500% | 11/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.900% | 2/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;958 | &nbsp;&nbsp; 909 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 317 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.750% | 6/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 1.500% | 6/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.350% | 1/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 309 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.700% | 8/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 437 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.400% | 4/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.400% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 3.600% | 6/21/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 589 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;General Motors Financial Co. Inc. | 2.700% | 6/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;George Washington University | 4.126% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 251 |
|  | &nbsp;&nbsp;&nbsp;Georgetown University | 4.315% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Georgetown University | 2.943% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Georgetown University | 5.215% | 10/1/18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Harley-Davidson Inc. | 3.500% | 7/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Harley-Davidson Inc. | 4.625% | 7/28/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Hasbro Inc. | 3.900% | 11/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 311 |
|  | &nbsp;&nbsp;&nbsp;Hasbro Inc. | 6.350% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Hasbro Inc. | 5.100% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.750% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.700% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.500% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.800% | 9/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.950% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 543 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.700% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 389 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 1.375% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 1.875% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.250% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.500% | 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 5.875% | 12/16/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp; 883 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.300% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.875% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.400% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 287 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.900% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.500% | 12/6/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 206 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.350% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.375% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 2.750% | 9/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 199 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 3.625% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | 4.950% | 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Honda Motor Co. Ltd. | 2.534% | 3/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Honda Motor Co. Ltd. | 2.967% | 3/10/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Howard University | 5.209% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp. | 1.800% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp. | 4.850% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp. | 4.375% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp. | 6.000% | 4/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;JD.com Inc. | 3.875% | 4/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;JD.com Inc. | 3.375% | 1/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Johns Hopkins University | 4.083% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Johns Hopkins University | 4.705% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | 3.800% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | 4.250% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | 3.500% | 5/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | 5.250% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;Leggett & Platt Inc. | 3.800% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Leggett & Platt Inc. | 3.500% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Leggett & Platt Inc. | 4.400% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Leggett & Platt Inc. | 3.500% | 11/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;Leland Stanford Junior University | 3.647% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. | 4.500% | 4/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.125% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.375% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 2.500% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 326 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 1.300% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 1.700% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 6.500% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 277 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.500% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 1.700% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 414 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 446 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 5.000% | 4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 2.800% | 9/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.250% | 9/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 22 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.700% | 4/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 3.000% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 321 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 5.625% | 4/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | 5.800% | 9/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Magna International Inc. | 3.625% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Magna International Inc. | 4.150% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Magna International Inc. | 2.450% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 3.750% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 3.750% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 3.125% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1083 | &nbsp;&nbsp;&nbsp; 1012 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 4.000% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 4.625% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. | 2.850% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 3.500% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 1.500% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 7.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 2.000% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | 4.500% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 3.959% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 2.989% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 3.067% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 5.600% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 4.678% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;Massachusetts Institute of Technology | 3.885% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp; 481 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.700% | 1/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 335 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.700% | 12/9/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 6.300% | 10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 6.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.700% | 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.600% | 5/26/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.875% | 12/9/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 217 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;MDC Holdings Inc. | 2.500% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;MDC Holdings Inc. | 6.000% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Mohawk Industries Inc. | 3.625% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 2.400% | 3/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 2.375% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 2.750% | 3/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 2.850% | 3/27/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 3.875% | 11/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. | 3.375% | 3/27/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Northwestern University | 4.643% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Northwestern University | 2.640% | 12/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Northwestern University | 3.662% | 12/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
|  | &nbsp;&nbsp;&nbsp;NVR Inc. | 3.000% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;O'Reilly Automotive Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;O'Reilly Automotive Inc. | 1.750% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;President and Fellows of Harvard College | 4.875% | 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;President and Fellows of Harvard College | 3.150% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;President and Fellows of Harvard College | 3.745% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;PulteGroup Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;PulteGroup Inc. | 6.375% | 5/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. | 3.750% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. | 2.950% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Rockefeller Foundation | 2.492% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Ross Stores Inc. | 4.600% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Ross Stores Inc. | 1.875% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 2.450% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 4.000% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.550% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 2.250% | 3/12/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 374 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 2.550% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 4.300% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.750% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 4.500% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.350% | 3/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | 3.500% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 218 |
|  | &nbsp;&nbsp;&nbsp;Tapestry Inc. | 4.125% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp; 22 |
|  | &nbsp;&nbsp;&nbsp;Tapestry Inc. | 3.050% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;TJX Cos. Inc. | 2.250% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | 2.358% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | 1.339% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 448 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | 2.760% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 2.900% | 4/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 0.500% | 6/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 0.625% | 9/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 4.400% | 9/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.450% | 1/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.800% | 2/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.400% | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.125% | 6/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.200% | 1/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.900% | 1/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.150% | 8/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 426 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 4.550% | 9/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.050% | 1/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp; 498 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 2.150% | 2/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 364 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. | 1.900% | 9/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Tractor Supply Co. | 1.750% | 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Trustees of Boston College | 3.129% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Trustees of Boston University | 4.061% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;Trustees of Princeton University | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Trustees of Princeton University | 2.516% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Trustees of Princeton University | 4.201% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Trustees of the University of Pennsylvania | 2.396% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Trustees of the University of Pennsylvania | 4.674% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Chicago | 2.547% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;University of Chicago | 3.000% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Chicago | 4.003% | 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;University of Miami | 4.063% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Notre Dame du Lac | 3.438% | 2/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;University of Notre Dame du Lac | 3.394% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Southern California | 3.028% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;University of Southern California | 3.841% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;University of Southern California | 2.945% | 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;University of Southern California | 5.250% | 10/1/11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;VF Corp. | 2.400% | 4/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;VF Corp. | 2.950% | 4/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Washington University | 3.524% | 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Washington University | 4.349% | 4/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 4.750% | 2/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | 4.600% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;William Marsh Rice University | 3.574% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Yale University | 0.873% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Yale University | 1.482% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Yale University | 2.402% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
|  |  |  |  |  | **64730** |
| **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** | **Consumer Staples (1.8%)** |
|  | &nbsp;&nbsp;&nbsp;Ahold Finance USA LLC | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 4.000% | 1/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 5.800% | 2/14/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 5.375% | 1/31/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 3.875% | 9/16/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 5.950% | 2/14/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 474 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | 6.200% | 2/14/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1007 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;1195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1127 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;1630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1492 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Finance Inc. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Finance Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Finance Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.000% | 4/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.750% | 1/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 460 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 909 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.375% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 8.200% | 1/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 5.450% | 1/23/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.950% | 1/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.600% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.439% | 10/6/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 514 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 5.550% | 1/23/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 598 |
|  | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.750% | 4/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 5.800% | 1/23/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 2.500% | 8/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 5.935% | 10/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 5.375% | 9/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 3.750% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 4.500% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | 2.700% | 9/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.222% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 627 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.557% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 797 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 2.259% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 416 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 2.726% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 7.750% | 10/19/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 4.390% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 4.540% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 4.758% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. | 3.984% | 9/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Brown-Forman Corp. | 3.500% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Brown-Forman Corp. | 4.500% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Bunge Ltd. Finance Corp. | 3.750% | 9/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Bunge Ltd. Finance Corp. | 2.750% | 5/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 3.950% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 3.300% | 3/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 4.150% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 2.375% | 4/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 4.800% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Campbell Soup Co. | 3.125% | 4/24/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;Church & Dwight Co. Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Church & Dwight Co. Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Clorox Co. | 3.100% | 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Clorox Co. | 3.900% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Clorox Co. | 1.800% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 3.375% | 3/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.900% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559 | &nbsp;&nbsp; 526 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 1.000% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 3.450% | 3/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 1.375% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 4.125% | 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 4.200% | 3/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 219 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated Inc. | 3.800% | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Femsa SAB de CV | 2.750% | 1/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Femsa SAB de CV | 5.250% | 11/26/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | 3.250% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | 3.100% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | 4.000% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 4.600% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 7.000% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 8.250% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | 5.300% | 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.750% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.400% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.700% | 12/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.600% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 4.650% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356 | &nbsp;&nbsp; 303 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 5.250% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Constellation Brands Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 94 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 3.000% | 5/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 1.375% | 6/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 1.600% | 4/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp; 1555 |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | 1.750% | 4/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Delhaize America LLC | 9.000% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 2.125% | 10/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 1.375% | 9/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 5.300% | 10/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 2.000% | 4/29/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 2.125% | 4/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 5.875% | 9/30/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Diageo Capital plc | 3.875% | 4/29/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 206 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 4.150% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 3.875% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Dollar Tree Inc. | 4.000% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Dollar Tree Inc. | 4.200% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 3.150% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp; 348 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 2.375% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 6.000% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 4.375% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 4.150% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. | 3.125% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Flowers Foods Inc. | 3.500% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Fomento Economico Mexicano SAB de CV | 4.375% | 5/10/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Fomento Economico Mexicano SAB de CV | 3.500% | 1/16/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 420 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | 3.650% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | 4.200% | 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 217 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | 2.875% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | 2.250% | 10/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;GSK Consumer Healthcare Capital US LLC | 3.375% | 3/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;GSK Consumer Healthcare Capital US LLC | 3.375% | 3/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;GSK Consumer Healthcare Capital US LLC | 3.625% | 3/24/32 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 881 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 2.050% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 3.200% | 8/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 2.300% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 2.450% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 112 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | 3.125% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | 1.800% | 6/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;Ingredion Inc. | 3.200% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Ingredion Inc. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 3.500% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 2.375% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 2.125% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 4.250% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | 4.375% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance Inc. | 5.500% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 475 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 478 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 284 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance Inc. | 6.500% | 12/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;JM Smucker Co. | 3.375% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | 3.400% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | 4.300% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | 7.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.417% | 5/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.400% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 2.550% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.430% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.950% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 2.250% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.050% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.500% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.420% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | 4.500% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.050% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 2.750% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 1.050% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.950% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.200% | 4/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.100% | 3/26/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 2.000% | 11/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | 3.200% | 7/30/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize NV | 5.700% | 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 328 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 6.875% | 1/26/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 5.200% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 737 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 4.875% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 2.650% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 7.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 8.000% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 5.400% | 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 5.000% | 4/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 4.650% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 3.950% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. | 3.150% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. | 3.400% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. | 2.500% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 209 |
| &nbsp;&nbsp;&nbsp;Mead Johnson Nutrition Co. | 4.125% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp;Mead Johnson Nutrition Co. | 5.900% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Mead Johnson Nutrition Co. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. | 3.000% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. | 4.200% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 2.625% | 3/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 2.750% | 4/13/30 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 1.875% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp;Mondelez International Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/4/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 692 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.250% | 3/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.750% | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.500% | 7/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452 | &nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.375% | 10/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.625% | 3/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.000% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.625% | 7/29/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.750% | 3/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 1.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 1.400% | 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.500% | 3/19/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.625% | 10/21/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.600% | 8/13/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 4.450% | 4/14/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.450% | 10/6/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.375% | 7/29/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 2.875% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | 3.875% | 3/19/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.250% | 11/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.125% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.375% | 8/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.000% | 11/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 2.750% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.125% | 11/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 202 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.375% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.625% | 11/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 1.750% | 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 5.750% | 11/17/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp; 716 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 6.375% | 5/16/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 212 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 4.375% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 412 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 4.500% | 3/20/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | 3.875% | 8/21/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 0.550% | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 269 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 2.800% | 3/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 469 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 3.000% | 3/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 456 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 1.200% | 10/29/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 5.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/5/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 3.550% | 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | 3.500% | 10/25/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 4.450% | 6/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp; 514 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 5.700% | 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 7.250% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 6.150% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Reynolds American Inc. | 5.850% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 384 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 3.750% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 3.300% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 3.250% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 2.400% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 6.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 4.450% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 6.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | 3.150% | 12/14/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 2.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 2.500% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 1.950% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 3.375% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 2.650% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 4.500% | 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 6.500% | 10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 7.000% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 3.900% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | 2.950% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 3.950% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 590 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 267 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 4.875% | 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 5.150% | 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. | 5.100% | 9/28/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 255 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 437 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 3.375% | 3/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 3.100% | 7/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 2.000% | 7/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 1.375% | 9/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 1.750% | 8/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;Unilever Capital Corp. | 5.900% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 216 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | 3.800% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366 |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 309 |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | 4.800% | 11/18/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.300% | 4/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 2.650% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.550% | 6/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 1.050% | 9/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.700% | 6/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 2.375% | 9/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 1.800% | 9/22/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 6.200% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.950% | 6/28/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 5.000% | 10/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 4.000% | 4/11/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 3.625% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 4.050% | 6/29/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 2.650% | 9/22/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Walmart Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 |
|  |  |  |  | **71918** |
| **Energy (1.9%)** | **Energy (1.9%)** | **Energy (1.9%)** | **Energy (1.9%)** | **Energy (1.9%)** |
| &nbsp;&nbsp;&nbsp;Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor Inc. | 5.125% | 9/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc. | 2.061% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc. | 3.337% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc. | 3.138% | 11/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc. | 4.080% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Boardwalk Pipelines LP | 4.950% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Boardwalk Pipelines LP | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp;Boardwalk Pipelines LP | 4.450% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.410% | 2/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.119% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.017% | 1/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 4.234% | 11/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.633% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 2.721% | 1/12/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.060% | 6/17/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.000% | 2/24/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 2.772% | 11/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 2.939% | &nbsp;&nbsp;&nbsp;&nbsp;6/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.001% | 3/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America Inc. | 3.379% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets plc | 3.279% | 9/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Burlington Resources LLC | 7.400% | 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 2.950% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 6.450% | 6/30/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 5.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 6.500% | 2/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 6.250% | 3/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 4.250% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 2.650% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 5.250% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 6.800% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 6.750% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 5.400% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy Inc. | 3.750% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 7.000% | 6/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 5.875% | 3/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 |

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Total Bond Market Index Portfolio

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 5.125% | 6/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 520 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 3.700% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC | 2.742% | 12/31/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP | 4.500% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP | 3.250% | 1/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | 1.554% | 5/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | 2.236% | 5/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 428 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 1.018% | 8/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 429 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 3.850% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 3.250% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 5.250% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Chevron USA Inc. | 2.343% | 8/12/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;CNOOC Finance 2013 Ltd. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;CNOOC Finance 2013 Ltd. | 3.300% | 9/30/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;CNOOC Finance 2015 USA LLC | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;CNOOC Petroleum North America ULC | 5.875% | 3/10/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;CNOOC Petroleum North America ULC | 6.400% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp;Columbia Pipeline Group Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;Columbia Pipeline Group Inc. | 5.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 4.300% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 2.400% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 5.900% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 5.900% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 475 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 4.875% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. | 6.950% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp; 290 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. | 3.758% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. | 4.300% | 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. | 4.025% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;Continental Resources Inc. | 4.375% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Continental Resources Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Coterra Energy Inc. | 3.900% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;DCP Midstream Operating LP | 5.625% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;DCP Midstream Operating LP | 3.250% | 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.250% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.850% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.250% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.875% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 4.500% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 7.875% | 9/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 7.950% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 5.000% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 3.250% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 3.500% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 3.125% | 3/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 4.400% | 3/24/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 4.250% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | 6.250% | 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 3.600% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 3.000% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage Inc. | 4.600% | 12/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 3.900% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 4.400% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 4.950% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Enable Midstream Partners LP | 5.000% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP | 5.875% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP | 7.500% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP | 5.500% | 9/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP | 7.375% | 10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Enbridge Inc. | 2.500% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Enbridge Inc. | 1.600% | 10/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Enbridge Inc. | 3.700% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Enbridge Inc. | 3.125% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 4.500% | 6/10/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 4.000% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Enbridge Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 273 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.050% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 678 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.750% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 488 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 298 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.550% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.250% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 412 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 3.750% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 397 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.750% | 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 4.950% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.300% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP | 5.400% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.625% | 10/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 5.800% | 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.125% | 12/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.000% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 271 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 6.250% | 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 299 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer Operating LP | 5.000% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 404 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.900% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.750% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.700% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.950% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.125% | 7/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 2.800% | 1/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 7.550% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 6.125% | 10/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.450% | 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.850% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp; 457 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.900% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 372 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.250% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 4.200% | 1/31/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 276 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.200% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.300% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 3.950% | 1/31/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 5.250% | 8/16/77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC | 5.375% | 2/15/78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | 4.150% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | 4.375% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | 4.950% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 5.678% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;EQT Corp. | 3.125% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 3.900% | 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 5.000% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | 7.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 2.650% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 366 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.250% | 11/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 1.750% | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp; 438 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 7.250% | 9/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 277 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.625% | 9/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 2.375% | 5/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 341 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 5.100% | 8/17/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 4.250% | 11/23/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.950% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 4.800% | 11/8/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.250% | 11/18/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Equinor ASA | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 323 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.992% | 3/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp; 916 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.043% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.275% | 8/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 556 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.440% | 8/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.482% | 3/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 349 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.610% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 567 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 2.995% | 8/16/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 4.227% | 3/19/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.567% | &nbsp;&nbsp;&nbsp;&nbsp;3/6/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 4.114% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 4.327% | 3/19/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp; 730 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 3.452% | 4/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 455 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 3.800% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 2.920% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 6.700% | 9/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 366 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 4.500% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | 5.000% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp;Helmerich & Payne Inc. | 2.900% | 9/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Hess Corp. | 3.500% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Hess Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;Hess Corp. | 7.125% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;Hess Corp. | 5.600% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 426 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 494 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 5.800% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 6.950% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 6.550% | 9/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 4.700% | 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 393 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 1.750% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 7.800% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 323 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 7.750% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 5.300% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 5.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 5.050% | 2/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | 3.600% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 5.150% | 10/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 4.250% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 4.200% | 10/3/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Magellan Midstream Partners LP | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Marathon Oil Corp. | 4.400% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Marathon Oil Corp. | 6.800% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 5.125% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.875% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 396 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.250% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.000% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 2.650% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 4.500% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 5.500% | 2/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp; 402 |
| &nbsp;&nbsp;&nbsp;Newfield Exploration Co. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;NOV Inc. | 3.600% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;NOV Inc. | 3.950% | 12/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 2.200% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.550% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.350% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 3.100% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.950% | 7/13/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 112 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 4.500% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;ONEOK Inc. | 7.150% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp;ONEOK Partners LP | 6.650% | 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 301 |
| &nbsp;&nbsp;&nbsp;ONEOK Partners LP | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 7.375% | 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 6.500% | 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 6.625% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Ovintiv Inc. | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Petroleos Mexicanos | 2.378% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 12 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 2.150% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 4.650% | 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 4.875% | 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 459 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | 3.300% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 2.450% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 3.605% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 3.150% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Phillips 66 Co. | 4.680% | 2/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. | 1.900% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. | 2.150% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 3.600% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 581 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 4.500% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 3.550% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 239 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 3.800% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 6.650% | 1/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP / PAA Finance Corp. | 4.700% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.750% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 400 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 401 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.875% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 455 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.000% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 4.200% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 4.500% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC | 5.900% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 150 |
|  | &nbsp;&nbsp;&nbsp;Schlumberger Investment SA | 2.650% | 6/26/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.250% | 5/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.875% | 5/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 471 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.500% | 9/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 835 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.875% | 11/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.375% | 11/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 476 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.125% | 5/11/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 6.375% | 12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 524 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 5.500% | 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 2.875% | 11/26/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.550% | 8/12/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 271 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.375% | 5/11/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp; 377 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 4.000% | 5/10/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 577 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.125% | 11/7/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 353 |
|  | &nbsp;&nbsp;&nbsp;Shell International Finance BV | 3.000% | 11/26/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 4.750% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 497 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 3.500% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 3.375% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP | 4.500% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 267 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 5.950% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 6.800% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 6.500% | 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 4.000% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Suncor Energy Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Corp. | 4.950% | 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 6.500% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 5.000% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 6.875% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 4.000% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;TC PipeLines LP | 3.900% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Total Capital International SA | 3.461% | 7/12/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Total Capital International SA | 3.127% | 5/29/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Total Capital International SA | 3.386% | 6/29/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA | 3.700% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA | 2.434% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA | 2.829% | 1/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 1.000% | 10/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.250% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.100% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 2.500% | 10/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 5.600% | 3/31/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 5.850% | 3/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.750% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 6.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd. | 4.875% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp;Transcontinental Gas Pipe Line Co. LLC | 4.000% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Transcontinental Gas Pipe Line Co. LLC | 3.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Transcontinental Gas Pipe Line Co. LLC | 4.600% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 7.500% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 6.625% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 4.900% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 3.650% | 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Valero Energy Partners LP | 4.500% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Williams Companies Inc. | 4.650% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Williams Companies Inc. | 5.300% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 4.550% | 6/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 396 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 3.900% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 664 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 3.750% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 3.500% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 2.600% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 6.300% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 5.800% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 5.750% | 6/24/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 5.100% | 9/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 4.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | 3.500% | 10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 |
|  |  |  |  | **76093** |
| **Financials (7.9%)** | **Financials (7.9%)** | **Financials (7.9%)** | **Financials (7.9%)** | **Financials (7.9%)** |
| &nbsp;&nbsp;&nbsp;ACE Capital Trust II | 9.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Aegon NV | 5.500% | 4/11/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.650% | 10/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 6.500% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 4.450% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 2.450% | 10/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.650% | 7/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 4.625% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.875% | 1/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.000% | 10/29/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 629 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.300% | 1/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 586 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.400% | 10/29/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 3.850% | 10/29/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group Inc. | 4.250% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group Inc. | 3.300% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | 2.875% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | 4.000% | 10/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;Aflac Inc. | 4.750% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 4.250% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.200% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.625% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 4.625% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.250% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 3.125% | 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 621 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | 2.875% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Aircastle Ltd. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 387 |
| &nbsp;&nbsp;&nbsp;Aircastle Ltd. | 4.250% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Alleghany Corp. | 3.625% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Alleghany Corp. | 4.900% | 9/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Alleghany Corp. | 3.250% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Allied World Assurance Co. Holdings Ltd. | 4.350% | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 1.450% | 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 5.550% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 4.500% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 4.200% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 3.850% | 8/10/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 6.500% | 5/15/67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 1.450% | 10/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp; 495 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 3.875% | 5/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 5.125% | 9/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 2.200% | 11/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp;Ally Financial Inc. | 8.000% | 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 413 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.400% | 2/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.000% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.625% | 12/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 4.200% | 11/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.125% | 5/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 1.650% | 11/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;American Express Co. | 4.050% | 12/3/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;American Financial Group Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;American Financial Group Inc. | 4.500% | 6/15/47 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.125% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 114 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.250% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 3.400% | 6/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 3.875% | 1/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.700% | 7/10/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp; 501 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.500% | 7/16/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 303 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;American International Group Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | 3.700% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp; 19 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | 2.875% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 8.205% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 4.500% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 2.800% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 346 |
| &nbsp;&nbsp;&nbsp;Aon Corp. | 6.250% | 9/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Aon plc | 3.500% | 6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Aon plc | 3.875% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Aon plc | 4.600% | 6/14/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Aon plc | 4.750% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Arch Capital Finance LLC | 4.011% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Arch Capital Finance LLC | 5.031% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group Ltd. | 7.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group Ltd. | 3.635% | 6/30/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group US Inc. | 5.144% | 11/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 4.200% | 6/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 3.250% | 7/15/25 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 2.150% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 424 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. | 2.875% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Assurant Inc. | 4.200% | 9/27/23 | &nbsp;&nbsp; 74 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Assurant Inc. | 4.900% | 3/27/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Assurant Inc. | 6.750% | 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp; 9 |
| &nbsp;&nbsp;&nbsp;Assured Guaranty US Holdings Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Athene Holding Ltd. | 4.125% | 1/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Athene Holding Ltd. | 6.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Athene Holding Ltd. | 3.500% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;Athene Holding Ltd. | 3.950% | 5/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd. | 3.700% | 11/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group Ltd. | 5.088% | 12/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;AXA SA | 8.600% | 12/15/30 | &nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;AXIS Specialty Finance LLC | 3.900% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;AXIS Specialty Finance LLC | 4.900% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;AXIS Specialty Finance plc | 4.000% | 12/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 510 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 5.147% | 8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 5.179% | 11/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 1.849% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 888 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 4.250% | 4/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 572 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 5.294% | 8/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 3.800% | 2/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 4.379% | 4/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | 2.958% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 481 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.843% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 647 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 0.976% | 4/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.093% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.456% | 10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.530% | 12/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp; 1130 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.366% | 1/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.015% | 2/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 927 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.384% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582 | &nbsp;&nbsp; 556 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.500% | 4/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.319% | 6/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.250% | 10/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp; 701 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.197% | 10/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 445 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.559% | 4/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 703 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1.734% | 7/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 438 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.248% | 10/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 693 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.183% | 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 532 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.824% | 1/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;1248 | &nbsp;&nbsp;&nbsp; 1165 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.551% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 599 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.705% | 4/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 324 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.593% | 7/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 737 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 6.204% | 11/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.419% | 12/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp; 1210 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.970% | &nbsp;&nbsp;&nbsp;&nbsp;3/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.087% | 6/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1262 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.271% | 7/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.974% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.194% | 7/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp; 968 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.884% | 10/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.496% | 2/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 609 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.592% | 4/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1632 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.687% | 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.572% | 10/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp; 1177 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.972% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp; 746 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 5.015% | 7/22/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 474 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 6.110% | 1/29/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.846% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 471 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.244% | 4/24/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 7.750% | 5/14/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.078% | 4/23/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.676% | 6/19/41 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 303 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.311% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp; 493 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 5.000% | 1/21/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp; 565 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.750% | 4/21/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.443% | 1/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.330% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 4.083% | 3/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp; 1185 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.831% | 10/24/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 3.483% | 3/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 356 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | 2.972% | 7/21/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Bank of America NA | 6.000% | 10/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 2.500% | 6/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 0.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 1.500% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 1.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 4.338% | 10/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | 3.803% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.250% | 9/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.100% | 10/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.000% | 2/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547 | &nbsp;&nbsp; 527 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 5.224% | 11/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 250 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp; 540 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.450% | 8/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.050% | 1/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.250% | 5/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.442% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 5.802% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.000% | 10/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 3.300% | 8/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 2.500% | 1/26/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | 5.834% | 10/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 3.400% | 2/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 5.250% | 12/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.450% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;1875 | &nbsp;&nbsp;&nbsp; 1766 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 3.450% | 4/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 4.500% | 12/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.300% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 437 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | 4.588% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 4.338% | 5/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 993 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 3.650% | 3/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 3.932% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 4.375% | 1/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 289 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 2.852% | &nbsp;&nbsp;&nbsp;&nbsp;5/7/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 5.200% | 5/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; 593 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 5.304% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 497 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 7.325% | 11/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 4.337% | 1/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Barclays plc | 4.836% | &nbsp;&nbsp;&nbsp;&nbsp;5/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.501% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 316 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 7.385% | 11/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 390 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 4.972% | 5/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 471 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.088% | 6/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 2.645% | 6/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.746% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 7.437% | 11/2/33 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp; 1184 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 3.564% | 9/23/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 5.250% | 8/17/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 4.950% | 1/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 5.750% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 4.400% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 4.200% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 662 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 4.250% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 2.850% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 488 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. | 3.850% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp; 431 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Inc. | 3.125% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 696 |
|  | &nbsp;&nbsp;&nbsp;BGC Partners Inc. | 3.750% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | 3.200% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | 3.250% | 4/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | 2.400% | 4/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 324 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | 2.100% | 2/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 482 |
|  | &nbsp;&nbsp;&nbsp;Blackstone Private Credit Fund | 2.625% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 248 |
|  | &nbsp;&nbsp;&nbsp;Blackstone Private Credit Fund | 3.250% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Blackstone Secured Lending Fund | 2.750% | 9/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 438 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;BNP Paribas SA | 3.052% | 1/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;BPCE SA | 4.000% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;BPCE SA | 3.375% | 12/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Brighthouse Financial Inc. | 4.700% | 6/22/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Corp. | 4.000% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 3.900% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.850% | 3/29/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.350% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance Inc. | 4.700% | 9/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Finance LLC / Brookfield Finance Inc. | 3.450% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | 4.200% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | 4.500% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | 2.375% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 381 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 2.250% | 1/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 1.250% | 6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.500% | 6/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp; 27 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.900% | 1/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.750% | 4/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 442 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.300% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;1013 | &nbsp;&nbsp; 978 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 4.200% | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 2.636% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp; 228 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.750% | 7/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 472 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.650% | 5/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 753 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.800% | 1/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 281 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 3.273% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Cboe Global Markets Inc. | 3.650% | 1/12/27 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 394 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp; 374 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.850% | 5/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 0.900% | 3/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 1.150% | 5/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 445 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp; 224 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.200% | 1/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 3.250% | 5/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 2.750% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 4.625% | 3/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 2.300% | 5/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;Chubb Corp. | 6.000% | 5/11/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;Chubb Corp. | 6.500% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.350% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.150% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 6.700% | 5/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 4.150% | 3/13/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 4.350% | 11/3/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 304 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 2.850% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings Inc. | 3.050% | 12/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;CI Financial Corp. | 4.100% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | 6.920% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | 6.125% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.500% | 5/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 672 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.875% | 3/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.352% | 4/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;1575 | &nbsp;&nbsp; 1527 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 0.981% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.140% | 5/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.400% | 6/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1716 | &nbsp;&nbsp; 1684 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.500% | 9/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 1.281% | 11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.700% | 1/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.014% | 1/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.610% | 9/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.200% | 10/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp; 950 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.300% | 11/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.450% | 9/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp; 1175 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.887% | 1/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 444 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.070% | 2/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 902 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.658% | 5/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.668% | 7/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 827 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.125% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.520% | 10/27/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp; 528 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.980% | 3/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 429 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.976% | 11/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.666% | 1/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 410 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.412% | 3/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.572% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 6.625% | 6/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 2.520% | 11/3/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.057% | 1/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.785% | 3/17/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp; 515 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.910% | 5/24/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 6.270% | 11/17/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 516 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 6.125% | 8/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 3.878% | 1/24/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 8.125% | 7/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp; 691 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.316% | 3/26/41 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 964 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.875% | 1/30/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.650% | 7/30/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.750% | 5/18/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;Citigroup Inc. | 4.650% | 7/23/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Citizens Bank NA/Providence RI | 6.064% | 10/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | 2.850% | 7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | 4.300% | 2/11/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | 2.638% | 9/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;CME Group Inc. | 2.650% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp;CME Group Inc. | 5.300% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp;CNA Financial Corp. | 3.950% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;CNA Financial Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;CNA Financial Corp. | 3.450% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;CNA Financial Corp. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;CNO Financial Group Inc. | 5.250% | 5/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 248 |
|  | &nbsp;&nbsp;&nbsp;Comerica Bank | 4.000% | 7/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 0.375% | 1/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 3.875% | 8/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 3.375% | 5/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666 | &nbsp;&nbsp; 646 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 3.750% | 7/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 5.250% | 5/24/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 5.750% | 12/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 239 |
|  | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 316 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 479 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 169 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 438 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse AG | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 525 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse AG | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 537 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 3.750% | 3/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 4.550% | 4/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp; 406 |
|  | &nbsp;&nbsp;&nbsp;Credit Suisse Group AG | 4.875% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 3.700% | 5/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548 | &nbsp;&nbsp; 532 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 4.100% | 1/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 1.686% | 3/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 6.119% | 7/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp; 1144 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 2.311% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 212 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 4.875% | 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Deutsche Bank AG | 3.742% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 2.450% | 9/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 3.450% | 7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp; 285 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 4.650% | 9/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Discover Bank | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 3.950% | 11/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 438 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 4.500% | 1/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp;&nbsp; 415 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | 6.700% | 11/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Eaton Vance Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Enstar Group Ltd. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 361 |
|  | &nbsp;&nbsp;&nbsp;Equitable Holdings Inc. | 7.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Equitable Holdings Inc. | 4.350% | 4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Equitable Holdings Inc. | 5.000% | 4/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Everest Reinsurance Holdings Inc. | 4.868% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Everest Reinsurance Holdings Inc. | 3.125% | 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 311 |
|  | &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | 4.850% | 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | 4.625% | 4/29/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | 5.625% | 8/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Financial Inc. | 3.400% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Financial Inc. | 2.450% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 379 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 4.300% | 1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 3.650% | 1/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 2.375% | 1/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp; 331 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 1.707% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 3.950% | 3/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 4.772% | 7/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 8.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bank NA | 3.950% | 7/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bank NA | 3.850% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bank NA | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;First American Financial Corp. | 4.600% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;First American Financial Corp. | 2.400% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;First Republic Bank | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;First-Citizens Bank & Trust Co. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Franklin Resources Inc. | 2.950% | 8/12/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;FS KKR Capital Corp. | 4.625% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;FS KKR Capital Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;FS KKR Capital Corp. | 3.400% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 444 |
|  | &nbsp;&nbsp;&nbsp;GATX Corp. | 3.250% | 3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;GATX Corp. | 3.250% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 3.850% | 3/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 3.500% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 4.550% | 11/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 4.500% | 3/30/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;GATX Corp. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Globe Life Inc. | 4.550% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Capital I | 6.345% | 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.625% | 2/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.000% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446 | &nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586 | &nbsp;&nbsp; 575 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | 1/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;1332 | &nbsp;&nbsp; 1289 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.757% | 1/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.750% | 5/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp; 799 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.272% | 9/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 529 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.250% | 10/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.750% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.500% | 11/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp; 1174 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.093% | 12/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 5.950% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 411 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.850% | 1/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 333 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.542% | 9/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.948% | 10/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp; 1178 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 2.640% | 2/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;1008 | &nbsp;&nbsp; 897 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.615% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp; 460 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.691% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 581 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.482% | 8/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 454 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.814% | 4/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.223% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 442 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.800% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp; 1122 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 1.992% | 1/27/32 | &nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp; 1180 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 2.650% | 10/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 631 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.102% | 2/24/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 6.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 6.750% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp; 1038 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.017% | 10/31/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 332 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.411% | 4/23/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 431 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 703 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.210% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;1030 | &nbsp;&nbsp;&nbsp; 741 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 3.436% | 2/24/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 5.150% | 5/22/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | 4.750% | 10/21/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group Inc. | 4.500% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 2.800% | 8/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 5.950% | 10/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 6.100% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 4.300% | 4/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 3.600% | 8/19/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | 2.900% | 9/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;HSBC Bank USA NA | 7.000% | 1/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.600% | 5/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.250% | 3/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.950% | 5/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 1289 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.803% | 3/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp; 1047 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.250% | 8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.633% | 11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 1064 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.999% | 3/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 1.645% | 4/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 903 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.900% | 5/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 429 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.099% | &nbsp;&nbsp;&nbsp;&nbsp;6/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp; 1550 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.292% | 9/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 480 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.336% | 11/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 260 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.375% | 11/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 336 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 1.589% | 5/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 431 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.251% | 11/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 628 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.041% | 3/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 5.210% | 8/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp; 785 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.390% | 11/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.583% | 6/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.206% | 8/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 404 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.950% | 3/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 3.973% | 5/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp; 498 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.625% | 5/17/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2.871% | 11/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp; 938 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 7.350% | 11/27/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 4.762% | 3/29/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 5.402% | 8/11/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 255 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 8.113% | 11/3/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 581 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 6.500% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 6.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 5.250% | 3/14/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 635 |
| &nbsp;&nbsp;&nbsp;HSBC USA Inc. | 3.500% | 6/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares Inc. | 4.443% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares Inc. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp;Huntington National Bank | 5.699% | 11/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;Huntington National Bank | 4.270% | 11/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Huntington National Bank | 4.552% | 5/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;Industrial & Commercial Bank of China Ltd. | 3.538% | 11/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 3.869% | 3/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 3.950% | 3/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 4.017% | 3/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 4.550% | 10/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.650% | 5/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.750% | 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.100% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.000% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.750% | 9/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.350% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 2.100% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp; 612 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.600% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 2.650% | 9/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.250% | 9/21/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.000% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 4.950% | 6/15/52 | &nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 3.000% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | 5.200% | 6/15/62 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Invesco Finance plc | 4.000% | 1/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 446 |
| &nbsp;&nbsp;&nbsp;Invesco Finance plc | 3.750% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;Invesco Finance plc | 5.375% | 11/30/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Jackson Financial Inc. | 3.125% | 11/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Janus Henderson US Holdings Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group Inc. | 4.850% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group Inc. | 4.150% | 1/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group Inc. | 6.250% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group Inc. | 6.500% | 1/20/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.700% | 5/18/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.625% | 5/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp; 517 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.514% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp; 413 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.875% | 9/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 562 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.125% | 1/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 386 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 0.563% | 2/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 472 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.220% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 583 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 0.824% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 793 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 0.969% | 6/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 350 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.900% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.301% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 659 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.561% | 12/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 1203 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.546% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 450 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp; 650 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.083% | 4/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 464 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.200% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.950% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp; 816 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.125% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.960% | 1/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 477 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.578% | 4/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.470% | 9/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.625% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 929 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.782% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 585 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.540% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.509% | 1/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.005% | 4/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.069% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 522 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.203% | 7/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.452% | 12/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.702% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 269 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.565% | 6/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.739% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1260 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.493% | 3/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp; 982 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.522% | 4/22/31 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1636 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.956% | 5/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 1.764% | 11/19/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.580% | 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 2.963% | 1/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp; 813 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.717% | 9/14/33 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 983 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 6.400% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 488 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.882% | 7/24/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.500% | 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 647 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.109% | 4/22/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.600% | 7/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.157% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 5.625% | 8/16/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.260% | 2/22/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 4.032% | 7/24/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 397 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.964% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 783 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.897% | 1/23/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.109% | 4/22/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 332 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | 3.328% | 4/22/52 | &nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp;Kemper Corp. | 4.350% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;KeyBank NA | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403 | &nbsp;&nbsp; 388 |
| &nbsp;&nbsp;&nbsp;KeyBank NA | 5.850% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 4.150% | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 4.100% | 4/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 570 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 2.550% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;Lazard Group LLC | 3.750% | 2/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Lazard Group LLC | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Lazard Group LLC | 4.500% | 9/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Legg Mason Inc. | 4.750% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Legg Mason Inc. | 5.625% | 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 3.625% | 12/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 3.050% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 289 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 6.300% | 10/9/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 7.000% | 6/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.050% | 8/16/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 894 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.900% | 3/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.582% | 12/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp; 676 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.511% | 3/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.650% | 3/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 550 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.716% | 8/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.750% | 1/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 | &nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.750% | 3/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.375% | 3/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.550% | 8/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 3.574% | 11/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 7.953% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 5.300% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 385 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group plc | 4.344% | &nbsp;&nbsp;&nbsp;&nbsp;1/9/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | 4.125% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Manufacturers & Traders Trust Co. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. | 4.061% | 2/24/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 3.500% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 3.350% | 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 4.300% | 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 5.000% | 5/20/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Markel Corp. | 4.150% | 9/17/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 3.500% | 3/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 3.750% | 3/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 2.250% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp; 581 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 4.750% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 4.350% | 1/30/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Mercury General Corp. | 4.400% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 3.600% | 4/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 3.600% | 11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.550% | 3/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 492 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 6.500% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 6.375% | 6/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp; 607 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.125% | 8/13/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.875% | 11/13/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 4.721% | 12/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;MetLife Inc. | 6.400% | 12/15/66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.527% | 9/13/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.407% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.801% | 7/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.777% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 1.412% | 7/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp; 1816 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 5.063% | 9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 502 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.757% | 9/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.677% | 2/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 473 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 1.538% | 7/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.287% | 7/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.341% | 1/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.961% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 4.050% | 9/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 5.354% | 9/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.741% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.195% | 7/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.559% | 2/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.048% | 7/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 2.852% | 1/19/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 4.315% | 4/19/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 5.133% | 7/20/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 478 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 4.286% | 7/26/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group Inc. | 3.751% | 7/18/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.839% | 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.555% | 9/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 3.663% | 2/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 1.554% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 4.018% | &nbsp;&nbsp;&nbsp;&nbsp;3/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 4.254% | 9/11/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 3.153% | 7/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 428 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.869% | 9/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group Inc. | 2.172% | 5/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 380 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.875% | 4/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.700% | 10/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; 596 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.620% | 4/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.790% | 5/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.000% | 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 322 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.164% | 10/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 644 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 5.000% | 11/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 648 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.875% | 1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.188% | 4/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 928 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.125% | 7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 653 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;1796 | &nbsp;&nbsp; 1870 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966 | &nbsp;&nbsp; 939 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.138% | 10/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 511 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 0.985% | 12/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.625% | 1/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.950% | 4/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.593% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.475% | 1/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 444 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.210% | 4/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.591% | 7/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp; 859 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.296% | 10/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 515 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.772% | 1/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 526 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.431% | 1/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 513 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.699% | 1/22/31 | &nbsp;&nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp; 1448 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.622% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 525 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.794% | 2/13/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1.928% | 4/28/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.239% | 7/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.511% | 10/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.943% | 1/21/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 406 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.342% | 10/18/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 785 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.971% | 7/22/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.457% | 4/22/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3.217% | 4/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 6.375% | 7/24/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 654 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 4.300% | 1/27/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 553 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 2.802% | 1/25/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp; 584 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Domestic Holdings Inc. | 3.800% | 8/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Domestic Holdings Inc. | 4.500% | 6/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 3.850% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 1.650% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 2.500% | 12/21/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 3.250% | 4/28/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Nasdaq Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 5.132% | 11/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 3.375% | 1/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;National Australia Bank Ltd. | 2.500% | 7/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Natwest Group plc | 4.892% | 5/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 943 |
| &nbsp;&nbsp;&nbsp;Natwest Group plc | 5.076% | 1/27/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Natwest Group plc | 4.445% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 636 |
| &nbsp;&nbsp;&nbsp;NatWest Group plc | 7.472% | 11/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;NatWest Group plc | 5.516% | 9/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.648% | 1/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 5.099% | &nbsp;&nbsp;&nbsp;&nbsp;7/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 1.851% | 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.329% | 1/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 5.386% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.172% | 7/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 5.605% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 3.103% | 1/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 333 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.679% | 7/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings Inc. | 2.608% | 7/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 3.950% | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 4.000% | 5/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Oaktree Specialty Lending Corp. | 3.500% | 2/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 4.875% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 3.875% | 8/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 3.850% | 6/11/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;ORIX Corp. | 3.250% | 12/4/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;ORIX Corp. | 3.700% | 7/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 5.250% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 4.000% | 3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 3.750% | 7/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 3.400% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp; 214 |
| &nbsp;&nbsp;&nbsp;Owl Rock Capital Corp. | 2.625% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;PartnerRe Finance B LLC | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;People's United Bank NA | 4.000% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.300% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp; 687 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 2.950% | 2/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.100% | 10/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 3.250% | 1/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 4.050% | 7/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA | 2.700% | 10/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 3.500% | 1/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 3.900% | 4/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 5.671% | 10/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 3.150% | 5/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 420 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 3.450% | 4/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 458 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 2.550% | 1/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 361 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 4.626% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | 6.037% | 10/28/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 3.125% | 5/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 3.400% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 3.100% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 4.625% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 4.350% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | 4.300% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 2.450% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 4.350% | 4/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 4.125% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 4.200% | 3/15/48 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 3.950% | 3/26/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 3.700% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Prospect Capital Corp. | 3.364% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.878% | 3/27/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.750% | 7/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.700% | 12/14/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 6.625% | 12/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.000% | 3/10/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 6.625% | 6/21/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.100% | 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.200% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 4.600% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.375% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.905% | 12/7/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 5.700% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.935% | 12/7/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 4.350% | 2/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | 3.700% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Prudential plc | 3.125% | 4/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | 4.950% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Regions Bank | 6.450% | 6/26/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | 2.250% | 5/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America Inc. | 3.900% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Finance Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Finance Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings Ltd. | 3.600% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 0.425% | 1/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 477 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.550% | 7/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 5.660% | 10/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.250% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 620 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.600% | 1/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 3.375% | 4/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 4.650% | 1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp; 887 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.200% | 4/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 1.400% | 11/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.050% | 1/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 4.240% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 6.000% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 2.300% | 11/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 401 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 4.500% | 7/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp; 1100 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 3.244% | 10/5/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 833 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 4.400% | 7/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA Inc. | 2.490% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 1.532% | 8/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 528 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 1.673% | 6/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 339 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings plc | 3.823% | 11/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Santander UK plc | 4.000% | 3/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Santander UK plc | 2.875% | 6/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Selective Insurance Group Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;Sixth Street Specialty Lending Inc. | 3.875% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 3.100% | 5/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 397 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 3.300% | 12/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 3.550% | 8/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 2.354% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 2.650% | 5/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 4.141% | 12/3/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 2.400% | 1/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | 3.031% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | 4.250% | 7/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Banking Corp. | 3.950% | 1/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Banking Corp. | 3.400% | 7/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 0.508% | 1/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp; 904 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.696% | 7/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.348% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 303 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 1.474% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1367 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 0.948% | 1/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.784% | &nbsp;&nbsp;&nbsp;&nbsp;3/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.632% | 7/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.010% | 10/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.446% | 1/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.364% | 7/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 646 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.544% | 1/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.944% | 7/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 1.902% | 9/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 413 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.040% | 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 3.202% | 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.750% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 1.710% | 1/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group Inc. | 2.296% | 1/12/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group | 3.500% | 1/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group | 1.800% | 10/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group | 2.100% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;SVB Financial Group | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 4.250% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 4.500% | 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 3.950% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 0.750% | 6/12/23 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1473 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 3.250% | 3/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 392 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 2.650% | 6/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 484 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.250% | 12/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp; 768 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.450% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 3.766% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 412 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.150% | 6/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.250% | 9/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 1.950% | 1/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 4.108% | &nbsp;&nbsp;&nbsp;&nbsp;6/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 410 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 2.000% | 9/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 2.450% | 1/12/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 687 |
|  | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | 4.456% | &nbsp;&nbsp;&nbsp;&nbsp;6/8/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 380 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 6.250% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 4.300% | 8/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 4.000% | 5/30/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | 2.550% | 4/27/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Trinity Acquisition plc | 4.400% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 489 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 2.150% | 12/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 3.625% | 9/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 481 |
|  | &nbsp;&nbsp;&nbsp;Truist Bank | 3.300% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 422 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 3.875% | 3/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.887% | &nbsp;&nbsp;&nbsp;&nbsp;6/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 420 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 4.916% | 7/28/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;UBS Group AG | 3.126% | 8/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Unum Group | 4.000% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Unum Group | 5.750% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Unum Group | 4.500% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.700% | 1/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 491 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.950% | 11/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.100% | 4/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 2.375% | 7/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249 | &nbsp;&nbsp; 230 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 5.727% | 10/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 535 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.150% | 4/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.900% | 4/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 3.000% | 7/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 2.677% | 1/27/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 4.967% | 7/22/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 5.850% | 10/21/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | 2.491% | 11/3/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;US Bank NA | 2.050% | 1/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;US Bank NA | 2.800% | 1/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp; 602 |
|  | &nbsp;&nbsp;&nbsp;Voya Financial Inc. | 3.650% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Voya Financial Inc. | 5.700% | 7/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Voya Financial Inc. | 4.800% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 33 |
|  | &nbsp;&nbsp;&nbsp;Voya Financial Inc. | 4.700% | 1/23/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.750% | 1/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 1.654% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 2/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 407 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 0.805% | 5/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp; 360 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.406% | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 568 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.164% | 2/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 4/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp; 1193 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.908% | 4/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 389 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp; 701 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.540% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 270 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.000% | 10/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 624 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.300% | 7/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 457 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.584% | 5/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 463 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.808% | 7/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp; 950 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.150% | 1/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 2.879% | 10/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp; 1105 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.478% | &nbsp;&nbsp;&nbsp;&nbsp;4/4/31 | &nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp; 1172 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.897% | 7/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp; 923 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.068% | 4/30/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 429 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 5.375% | 11/2/43 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 931 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 5.606% | 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 582 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.650% | 11/4/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.900% | 11/17/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.400% | 6/14/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.750% | 12/7/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 5.013% | &nbsp;&nbsp;&nbsp;&nbsp;4/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1557 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 4.611% | 4/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA | 5.950% | 8/26/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA | 5.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Bank NA | 6.600% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 3.650% | 5/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 3.300% | 2/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 1.019% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.350% | 2/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.850% | 5/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/3/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.700% | 8/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 1.953% | 11/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.650% | 1/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.894% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 4.322% | 11/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 5.405% | 8/10/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 4.110% | 7/24/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.668% | 11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 3.020% | 11/18/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 4.421% | 7/24/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | 2.963% | 11/16/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 3.600% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 4.500% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 2.950% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 5.050% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;Willis North America Inc. | 3.875% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;XLIT Ltd. | 5.500% | 3/31/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | 3.250% | 10/29/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205 |
|  |  |  |  | **313380** |
| **Health Care (2.8%)** | **Health Care (2.8%)** | **Health Care (2.8%)** | **Health Care (2.8%)** | **Health Care (2.8%)** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 3.750% | 11/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 1.150% | 1/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 1.400% | 6/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 4.750% | 11/30/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 5.300% | 5/27/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 4.750% | 4/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 4.900% | 11/30/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 685 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 2.800% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.850% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 2.600% | 11/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 718 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.600% | 5/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 2.950% | 11/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 690 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.250% | 11/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 3.200% | 11/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;1130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1019 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.550% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.500% | 5/14/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.300% | 5/14/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.050% | 11/21/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 707 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.625% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.400% | 11/6/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.850% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.750% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.700% | 5/14/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.450% | 5/14/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.875% | 11/14/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;AbbVie Inc. | 4.250% | 11/21/49 | &nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 862 |
| &nbsp;&nbsp;&nbsp;Adventist Health System | 2.952% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Adventist Health System | 3.630% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 3.829% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 2.211% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 4.272% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 3.387% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. | 3.008% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Aetna Inc. | 3.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122 |

---

------

Total Bond Market Index Portfolio

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 6.625% | 6/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 6.750% | 12/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 4.500% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 4.125% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Aetna Inc. | 3.875% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 232 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | 3.050% | 9/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | 2.750% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/4/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;AHS Hospital Corp. | 5.024% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;AHS Hospital Corp. | 2.780% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 93 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Allina Health System | 3.887% | 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 3.400% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 3.450% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 2.700% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 249 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 4.300% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.625% | 5/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 491 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 1.900% | 2/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 2.200% | 2/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 1.650% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.050% | 8/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 2.000% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 351 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.350% | 2/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 436 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.150% | 2/21/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 425 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 2.800% | 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.950% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 5.150% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 376 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.375% | 2/21/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 507 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.663% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 216 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 3.000% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp; 518 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.200% | 2/22/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 401 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | 2.770% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 3.500% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 463 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 3.350% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 2.375% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 2.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp; 440 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 2.550% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 544 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.100% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 5.950% | 12/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp; 1 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 5.850% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 6.375% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.625% | 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.650% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp; 702 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 5.100% | 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.375% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.550% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Anthem Inc. | 4.850% | 8/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 25 |
|  | &nbsp;&nbsp;&nbsp;Ascension Health | 2.532% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 300 |
|  | &nbsp;&nbsp;&nbsp;Ascension Health | 3.106% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Ascension Health | 3.945% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 146 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Ascension Health | 4.847% | 11/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 0.700% | 5/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 1.200% | 5/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 1.750% | 5/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC | 2.250% | 5/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 3.375% | 11/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 0.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 440 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 4.000% | 1/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 6.450% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 508 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 4.000% | 9/18/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 251 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 4.375% | 11/16/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;AstraZeneca plc | 3.000% | 5/28/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Banner Health | 2.338% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Banner Health | 3.181% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Baptist Healthcare System Obligated Group | 3.540% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 178 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Baxalta Inc. | 4.000% | 6/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Baxalta Inc. | 5.250% | 6/23/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 1.322% | 11/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 1.915% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 666 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 2.272% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 1.730% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 229 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 2.539% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 398 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 3.500% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 3.132% | 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;Baylor Scott & White Holdings | 1.777% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;Baylor Scott & White Holdings | 4.185% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Baylor Scott & White Holdings | 2.839% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 231 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 3.734% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 1.957% | 2/11/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 4.875% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 22 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 4.685% | 12/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. | 4.669% | &nbsp;&nbsp;&nbsp;&nbsp;6/6/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;BHSH System Obligated Group | 3.487% | 7/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Biogen Inc. | 4.050% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 340 |
|  | &nbsp;&nbsp;&nbsp;Biogen Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 325 |
|  | &nbsp;&nbsp;&nbsp;Biogen Inc. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Bio-Rad Laboratories Inc. | 3.700% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Bon Secours Mercy Health Inc. | 4.302% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Bon Secours Mercy Health Inc. | 3.464% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Bon Secours Mercy Health Inc. | 3.205% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 514 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 7.375% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 58 |
|  | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 2.900% | 7/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 656 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.200% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 1.125% | 11/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 427 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.450% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.900% | 2/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.400% | 7/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 1.450% | 11/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 2.950% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 262 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.125% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 339 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.625% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.350% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 221 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.550% | 2/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp; 212 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 4.250% | 10/26/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 605 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 2.550% | 11/13/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 316 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.700% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp; 562 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | 3.900% | 3/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 3.079% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 3.750% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 4.600% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 4.500% | 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 4.900% | 9/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | 4.368% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 4.250% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp; 445 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 2.450% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp; 225 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 4.625% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp; 354 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 3.375% | 2/15/30 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 3.000% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp; 333 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 309 |
|  | &nbsp;&nbsp;&nbsp;Centene Corp. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Children's Health System of Texas | 2.511% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;Children's Hospital Corp. | 4.115% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Children's Hospital Corp. | 2.585% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 30 |
|  | &nbsp;&nbsp;&nbsp;Children's Hospital Medical Center | 4.268% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
|  | &nbsp;&nbsp;&nbsp;CHRISTUS Health | 4.341% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.500% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.125% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467 | &nbsp;&nbsp; 457 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.500% | 2/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; 384 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 7.875% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.375% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; 588 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 2.400% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 2.375% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.800% | 8/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.200% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 6.125% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.800% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 360 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.875% | 10/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 4.900% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp; 495 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | 3.400% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;City of Hope | 5.623% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;City of Hope | 4.378% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Cleveland Clinic Foundation | 4.858% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 2.760% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 2.782% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 411 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 4.350% | 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 3.817% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;CommonSpirit Health | 4.187% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Community Health Network Inc. | 3.099% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Cottage Health Obligated Group | 3.304% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.375% | 8/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 268 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.875% | 7/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp; 559 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp; 389 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.000% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 420 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 1.300% | 8/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 339 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.300% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677 | &nbsp;&nbsp; 655 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 3.250% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 322 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 1.750% | 8/21/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 1.875% | 2/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 274 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.875% | 7/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.780% | 3/25/38 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp; 916 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 6.125% | 9/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 5.300% | 12/5/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 5.125% | 7/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 478 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 5.050% | 3/25/48 | &nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp; 1264 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | 3.350% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | 4.375% | 9/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | 2.600% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;Dartmouth-Hitchcock Health | 4.178% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;DENTSPLY SIRONA Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;DH Europe Finance II Sarl | 2.200% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
|  | &nbsp;&nbsp;&nbsp;DH Europe Finance II Sarl | 2.600% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;DH Europe Finance II Sarl | 3.250% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;Dignity Health | 3.812% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Dignity Health | 4.500% | 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Dignity Health | 5.267% | 11/1/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Duke University Health System Inc. | 3.920% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp. | 4.300% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | 5.500% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | 3.375% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | 2.500% | 9/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 153 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.550% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.600% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 252 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.650% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 203 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;GE HealthCare Technologies Inc. | 5.905% | 11/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 555 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 489 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 5.650% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 369 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp; 411 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | 2.800% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 3.625% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 | &nbsp;&nbsp; 590 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 3.875% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 360 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 5.375% | 4/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 6.375% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp; 619 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital Inc. | 4.200% | 3/18/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital plc | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
|  | &nbsp;&nbsp;&nbsp;Hackensack Meridian Health Inc. | 2.675% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Hackensack Meridian Health Inc. | 4.211% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Hackensack Meridian Health Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Hartford HealthCare Corp. | 3.447% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.000% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 423 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.250% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.250% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 321 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.500% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.125% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 370 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 430 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 2.375% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 311 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 3.625% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.125% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.375% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.500% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 378 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 5.250% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 342 |
|  | &nbsp;&nbsp;&nbsp;HCA Inc. | 3.500% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 129 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;HCA Inc. | 4.625% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 3.850% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 1.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 3.950% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 132 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 4.625% | 12/1/42 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 4.950% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 244 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | 3.950% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 32 |
|  | &nbsp;&nbsp;&nbsp;IHC Health Services Inc. | 4.131% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Illumina Inc. | 2.550% | 3/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Indiana University Health Inc. Obligated Group | 3.970% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;Iowa Health System | 3.665% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Johns Hopkins Health System Corp. | 3.837% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.625% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.900% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 1.300% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 303 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.950% | 5/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.375% | 12/5/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 267 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 5.950% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.850% | 5/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 4.500% | 12/5/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 251 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 2.810% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 181 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 3.266% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals | 3.002% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | 6.875% | 3/11/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Koninklijke Philips NV | 5.000% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 2.300% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 1.550% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 2.950% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Mass General Brigham Inc. | 3.192% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Mass General Brigham Inc. | 3.342% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Mayo Clinic | 3.774% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Mayo Clinic | 4.128% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Mayo Clinic | 3.196% | 11/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;McKesson Corp. | 3.796% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;McKesson Corp. | 0.900% | 12/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 445 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;MedStar Health Inc. | 3.626% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Medtronic Inc. | 4.375% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp; 485 |
|  | &nbsp;&nbsp;&nbsp;Medtronic Inc. | 4.625% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;Memorial Health Services | 3.447% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Memorial Sloan-Kettering Cancer Center | 2.955% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Memorial Sloan-Kettering Cancer Center | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Memorial Sloan-Kettering Cancer Center | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 2.750% | 2/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp; 709 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 1.700% | 6/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 349 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 1.450% | 6/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 2.150% | 12/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 368 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 6.500% | 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 3.600% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 4.150% | 5/18/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 3.700% | 2/10/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 432 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 2.750% | 12/10/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 471 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | 2.900% | 12/10/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;Methodist Hospital | 2.705% | 12/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 187 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Montefiore Obligated Group | 5.246% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 112 |
|  | &nbsp;&nbsp;&nbsp;Mount Sinai Hospitals Group Inc. | 3.391% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 337 |
|  | &nbsp;&nbsp;&nbsp;MultiCare Health System | 2.803% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Mylan Inc. | 5.400% | 11/29/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Mylan Inc. | 5.200% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;New York and Presbyterian Hospital | 4.024% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;New York and Presbyterian Hospital | 4.063% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;New York and Presbyterian Hospital | 2.606% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;New York and Presbyterian Hospital | 3.954% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;Northwell Healthcare Inc. | 3.979% | 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Northwell Healthcare Inc. | 4.260% | 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Northwell Healthcare Inc. | 3.809% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Novant Health Inc. | 2.637% | 11/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 392 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 1.750% | 2/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 2.000% | 2/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 478 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 3.100% | 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 2.200% | 8/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp; 348 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 3.700% | 9/21/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 348 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 4.000% | 11/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 199 |
|  | &nbsp;&nbsp;&nbsp;Novartis Capital Corp. | 2.750% | 8/14/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;NY Society for Relief of Ruptured & Crippled Maintaining Hospital Special Surgery | 2.667% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp; 6 |
|  | &nbsp;&nbsp;&nbsp;NYU Langone Hospitals | 4.784% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;NYU Langone Hospitals | 4.368% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/47 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;NYU Langone Hospitals | 3.380% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;OhioHealth Corp. | 3.042% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Orlando Health Obligated Group | 4.089% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;PeaceHealth Obligated Group | 4.787% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;PeaceHealth Obligated Group | 3.218% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | 0.850% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | 1.900% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | 3.625% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 2.950% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 3.600% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 3.450% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 353 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 263 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 1.700% | 5/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 1.750% | 8/18/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.000% | 12/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.100% | 9/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 3.900% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 7.200% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp; 516 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 2.550% | 5/28/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.300% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.400% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.125% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 221 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.200% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 313 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 4.000% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | 2.700% | 5/28/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;Pharmacia LLC | 6.600% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 2.746% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 2.532% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 3.744% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group | 3.930% | 10/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 3.500% | 3/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 4.200% | 6/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 2.950% | 6/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 2.800% | 6/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 5.750% | 1/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp; 12 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | 4.700% | 3/30/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals Inc. | 1.750% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 387 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 269 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;9/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Rush Obligated Group | 3.922% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;RWJ Barnabas Health Inc. | 3.949% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;RWJ Barnabas Health Inc. | 3.477% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 18 |
|  | &nbsp;&nbsp;&nbsp;Sanofi | 3.625% | 6/19/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;Seattle Children's Hospital | 2.719% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |
|  | &nbsp;&nbsp;&nbsp;Shire Acquisitions Investments Ireland DAC | 3.200% | 9/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 541 |
|  | &nbsp;&nbsp;&nbsp;Smith & Nephew plc | 2.032% | 10/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;SSM Health Care Corp. | 3.823% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Stanford Health Care | 3.795% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 3.375% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 1.150% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 3.375% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 3.500% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | 4.375% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Sutter Health | 1.321% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 454 |
|  | &nbsp;&nbsp;&nbsp;Sutter Health | 3.695% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Sutter Health | 4.091% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co. Ltd. | 5.000% | 11/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 402 |
|  | &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co. Ltd. | 3.025% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 294 |
|  | &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co. Ltd. | 3.175% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co. Ltd. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/9/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Texas Health Resources | 2.328% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 1.215% | 10/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 2.000% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 809 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 2.800% | 10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 184 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Trinity Health Corp. | 4.125% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.500% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.375% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 289 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.000% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.750% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp; 930 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.150% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 202 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.700% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.100% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.450% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.375% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.700% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.950% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.250% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 384 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.875% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.875% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.300% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.000% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp; 625 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.300% | 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 541 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.200% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp; 713 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.350% | 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 388 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.625% | 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 6.500% | 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 6.625% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 6.875% | 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp; 287 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.500% | 8/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 2.750% | 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.950% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.050% | 5/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.625% | 11/15/41 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.375% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.950% | 10/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.250% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.750% | 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.200% | 1/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.250% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.250% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 262 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 4.450% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.700% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.250% | 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 541 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 5.875% | 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 217 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.875% | 8/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp; 330 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 3.125% | 5/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | 6.050% | 2/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Universal Health Services Inc. | 2.650% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 239 |
|  | &nbsp;&nbsp;&nbsp;UPMC | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Utah Acquisition Sub Inc. | 3.950% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889 | &nbsp;&nbsp; 831 |
|  | &nbsp;&nbsp;&nbsp;Utah Acquisition Sub Inc. | 5.250% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | 1.650% | 6/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | 2.300% | 6/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 150 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | 4.000% | 6/22/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;WakeMed | 3.286% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Willis-Knighton Medical Center | 4.813% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 6.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 305 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 6.000% | 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Wyeth LLC | 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp; 416 |
|  | &nbsp;&nbsp;&nbsp;Zeneca Wilmington Inc. | 7.000% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 1.450% | 11/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 3.050% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 2.600% | 11/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 5.750% | 11/30/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | 4.450% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 4.500% | 11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 3.000% | 9/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 3.900% | 8/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 2.000% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 5.600% | 11/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 3.950% | 9/12/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. | 4.450% | 8/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
|  |  |  |  |  | **111654** |
| **Industrials (2.1%)** | **Industrials (2.1%)** | **Industrials (2.1%)** | **Industrials (2.1%)** | **Industrials (2.1%)** | **Industrials (2.1%)** |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.250% | 2/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.000% | 2/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.650% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.250% | 9/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.875% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 2.375% | 8/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.125% | 9/19/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.625% | 10/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 4.000% | 9/14/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.250% | 8/26/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | 3.700% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Allegion plc | 3.500% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Allegion US Holding Co. Inc. | 3.550% | 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;American Airlines Class A Series 2021-1 Pass Through Trust | 2.875% | 1/11/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2015-2 Pass Through Trust | 3.600% | 3/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2016-1 Pass Through Trust | 3.575% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2016-3 Pass Through Trust | 3.000% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2017-1 Pass Through Trust | 3.650% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;American Airlines Class AA Series 2019-1 Pass Through Trust | 3.150% | 8/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 2.800% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. | 2.200% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Block Financial LLC | 5.250% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Block Financial LLC | 3.875% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;BNSF Funding Trust I | 6.613% | 12/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 4.508% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 623 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 1.875% | 6/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 1.433% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.850% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 789 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.196% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1091 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.250% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 5.040% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 356 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.450% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 678 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 6.125% | 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 6.625% | 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 6.875% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 5.875% | 2/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 5.705% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 704 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.375% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.850% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Boeing Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Boeing Co. | 5.805% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp; 493 |
| &nbsp;&nbsp;&nbsp;Boeing Co. | 3.825% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Boeing Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Boeing Co. | 5.930% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp; 675 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.250% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 6.200% | 8/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 5.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.400% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.450% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.125% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.050% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp; 314 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 4.150% | 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.550% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 3.050% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC | 2.875% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 2.950% | 11/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 6.200% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 6.375% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;8/2/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;3/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 7.125% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 2.450% | 12/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 5.950% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 3.000% | 12/2/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 376 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 3.100% | 12/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. | 6.125% | 9/15/15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.242% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 377 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.493% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.722% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 506 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 2.700% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 3.377% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | 3.577% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 0.950% | 1/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 2.850% | 5/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 0.600% | 9/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 2.150% | 11/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 3.250% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277 | &nbsp;&nbsp; 269 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 4.900% | 1/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 1.450% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 3.650% | 8/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 0.800% | 11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 0.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 1.150% | 9/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;1/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. | 3.600% | 8/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 3.400% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 2.600% | 9/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 6.050% | 8/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 5.200% | 5/27/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 3.803% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 3.250% | 9/19/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/9/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Caterpillar Inc. | 4.750% | 5/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. No. 2 | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial Capital LLC | 4.200% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial Capital LLC | 1.450% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;CNH Industrial NV | 3.850% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Continental Airlines Class A Series 2012-2 Pass Through Trust | 4.000% | 4/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Crane Co. | 4.200% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.350% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 334 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.250% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 2.400% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.100% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 6.220% | 4/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 5.500% | 4/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 226 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.750% | 5/30/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.100% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 126 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.500% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 3.350% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.250% | 11/1/66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Cummins Inc. | 0.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 361 |
|  | &nbsp;&nbsp;&nbsp;Cummins Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 2.750% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 5.375% | 10/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 7.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/7/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | 3.750% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Delta Air Lines Class AA Series 2019-1 Pass Through Trust | 3.204% | 10/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Delta Air Lines Class AA Series 2020-1 Pass Through Trust | 2.000% | 12/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp; 109 |
| <sup>2,5</sup> | &nbsp;&nbsp;&nbsp;Delta Air Lines Inc. / SkyMiles IP Ltd. | 4.750% | 10/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Dover Corp. | 3.150% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Dover Corp. | 2.950% | 11/4/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 3.103% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 4.150% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 4.150% | 11/2/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. | 4.700% | 8/23/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 2.000% | 12/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 1.950% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 2.200% | 12/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 2.750% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | 2.800% | 12/21/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.250% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.100% | 4/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.750% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 212 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.400% | 1/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.050% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.950% | 10/17/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 5.250% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 44 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;FedEx Corp. Class AA Series 2020-1 Pass Through Trust | 1.875% | 8/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;Fortive Corp. | 3.150% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
|  | &nbsp;&nbsp;&nbsp;Fortive Corp. | 4.300% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;GE Capital Funding LLC | 3.450% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 428 |
|  | &nbsp;&nbsp;&nbsp;GE Capital Funding LLC | 4.550% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 2.375% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp; 305 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.500% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 2.625% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.750% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | 3.600% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;General Electric Co. | 5.875% | 1/14/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 571 |
|  | &nbsp;&nbsp;&nbsp;GXO Logistics Inc. | 2.650% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 2.300% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 408 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 1.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 2.500% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 1.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 218 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 4.950% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 2.700% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 827 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 5.000% | 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 5.700% | 3/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Hubbell Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Hubbell Inc. | 3.150% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;Hubbell Inc. | 3.500% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | 3.483% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | 2.043% | 8/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 181 |
|  | &nbsp;&nbsp;&nbsp;IDEX Corp. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | 2.650% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | 4.875% | 9/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;JB Hunt Transport Services Inc. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JetBlue Class A Series 2020-1 Pass Through Trust | 4.000% | 5/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 115 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;JetBlue Class AA Series 2019-1 Pass Through Trust | 2.750% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 0.900% | 1/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.650% | 6/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 0.625% | 9/10/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;1/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 1.250% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 468 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.450% | 3/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.400% | 9/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 0.700% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 267 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.650% | 6/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 1.050% | 6/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.250% | 9/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 4.150% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.800% | 7/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;John Deere Capital Corp. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;1/9/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 3.900% | 2/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 6.000% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp; 40 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 5.125% | 9/14/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp; 13 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 4.500% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc / Tyco Fire & Security Finance SCA | 2.000% | 9/16/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 2.875% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 4.300% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 4.950% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;Kansas City Southern | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Kennametal Inc. | 4.625% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Keysight Technologies Inc. | 4.550% | 10/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Keysight Technologies Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Keysight Technologies Inc. | 3.000% | 10/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;Kirby Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 273 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 3.950% | 5/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 3.832% | 4/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 3.850% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 4.400% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 4.854% | 4/27/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | 5.054% | 4/27/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Legrand France SA | 8.500% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Lennox International Inc. | 3.000% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Lennox International Inc. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3.550% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.100% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3.900% | 6/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.250% | 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.500% | 5/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 6.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 325 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.070% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.700% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 2.800% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.090% | 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.150% | 6/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.700% | 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 4.300% | 6/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | 5.900% | 11/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp; 145 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd. | 6.500% | 6/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 448 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.850% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 2.900% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 290 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 7.800% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 66 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 2.550% | 11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.000% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.837% | 10/1/41 | &nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.450% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.650% | 1/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.150% | 2/28/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.100% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.400% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.050% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 235 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.050% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 3.155% | 5/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp; 292 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 4.100% | 5/15/21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 2.930% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 264 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 3.250% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 5.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 5.050% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 4.030% | 10/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp; 315 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Nvent Finance Sarl | 4.550% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Oshkosh Corp. | 4.600% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Oshkosh Corp. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 2.293% | &nbsp;&nbsp;&nbsp;&nbsp;4/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 2.565% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 3.112% | 2/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 295 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | 3.362% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;PACCAR Financial Corp. | 2.150% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;PACCAR Financial Corp. | 1.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 2.700% | 6/14/24 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 3.650% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 3.300% | 11/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 4.250% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 3.250% | 6/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 6.250% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 155 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 4.450% | 11/21/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | 4.000% | 6/14/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Precision Castparts Corp. | 3.250% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Precision Castparts Corp. | 4.375% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Quanta Services Inc. | 2.900% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 329 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.200% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.950% | 8/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.500% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 210 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 7.200% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 27 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.125% | 11/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp; 515 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 2.375% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 5.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 150 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 6.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 6.125% | 7/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.450% | 11/16/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.700% | 12/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 607 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.800% | 12/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.150% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.750% | 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.350% | 4/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 4.625% | 11/16/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 317 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp; 126 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 2.820% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | 3.030% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 2.500% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 0.875% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 446 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 6.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. | 5.700% | 5/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | 1.750% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | 2.800% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 120 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 3.650% | 3/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Ryder System Inc. | 2.900% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Snap-on Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Snap-on Inc. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Snap-on Inc. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 602 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 3.000% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 5.125% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 470 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 3.450% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 2.625% | 2/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Spirit Airlines Class A Series 2015-1 Pass Through Trust | 4.100% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp; 13 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | 5.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | 4.850% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | 4.000% | 3/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 344 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | 4.000% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | 3.650% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | 3.900% | 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;Timken Co. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Timken Co. | 4.500% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Global Holding Co Ltd. | 5.750% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Luxembourg Finance SA | 3.550% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 365 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Luxembourg Finance SA | 3.500% | 3/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Luxembourg Finance SA | 3.800% | 3/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies Luxembourg Finance SA | 4.500% | 3/21/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Trimble Inc. | 4.750% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp; 92 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Trimble Inc. | 4.900% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 3.125% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA | 7.125% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.646% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.250% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.750% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp; 463 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.800% | 2/14/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.891% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 396 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.600% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.950% | 3/10/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 170 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/52 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.500% | 2/14/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 453 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.950% | 8/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.839% | 3/20/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp; 300 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 2.973% | 9/16/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | 3.799% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp; 395 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2013-1 Pass Through Trust | 4.300% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp; 42 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2014-1 Pass Through Trust | 4.000% | 10/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp; 54 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2016-1 Pass Through Trust | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 31 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2016-2 Pass Through Trust | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 29 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class A Series 2020-1 Pass Through Trust | 5.875% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp; 537 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2015-1 Pass Through Trust | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 107 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2016-1 Pass Through Trust | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;1/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; 260 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2016-2 Pass Through Trust | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 47 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2019-1 Pass Through Trust | 4.150% | 2/25/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 136 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class AA Series 2019-2 Pass Through Trust | 2.700% | 11/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;United Airlines Class B Series 2020-1 Pass Through Trust | 4.875% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 2.800% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 296 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 2.400% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.400% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 6.200% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 5.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp; 255 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 4.875% | 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.625% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.400% | 11/15/46 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 4.250% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 313 |
|  | &nbsp;&nbsp;&nbsp;Valmont Industries Inc. | 5.000% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Valmont Industries Inc. | 5.250% | 10/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 4.250% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 2.200% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Waste Connections Inc. | 2.950% | 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 0.750% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 3.150% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 1.500% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | 2.500% | 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 125 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | 4.400% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | 3.200% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | 4.950% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;WW Grainger Inc. | 1.850% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;WW Grainger Inc. | 3.750% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;WW Grainger Inc. | 4.200% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Xylem Inc. | 3.250% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Xylem Inc. | 1.950% | 1/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Xylem Inc. | 2.250% | 1/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Xylem Inc. | 4.375% | 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
|  |  |  |  | **80781** |
| **Materials (0.8%)** | **Materials (0.8%)** | **Materials (0.8%)** | **Materials (0.8%)** | **Materials (0.8%)** |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | 3.350% | 7/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | 2.050% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | 2.700% | 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | 2.800% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Albemarle Corp. | 5.450% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Albemarle Corp. | 5.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America Inc. | 4.000% | 5/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America Inc. | 3.100% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America Inc. | 2.630% | 6/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America Inc. | 2.690% | 5/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;AngloGold Ashanti Holdings plc | 3.375% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;AngloGold Ashanti Holdings plc | 3.750% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 4.550% | 3/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 6.550% | 11/29/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 4.250% | 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 6.800% | 11/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 7.000% | 10/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | 4.875% | 12/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Barrick Gold Corp. | 6.450% | 10/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Barrick North America Finance LLC | 5.700% | 5/30/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 453 |
| &nbsp;&nbsp;&nbsp;Barrick North America Finance LLC | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Berry Global Inc. | 0.950% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Berry Global Inc. | 1.570% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357 |
| &nbsp;&nbsp;&nbsp;BHP Billiton Finance USA Ltd. | 4.125% | 2/24/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;BHP Billiton Finance USA Ltd. | 5.000% | 9/30/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 558 |
| &nbsp;&nbsp;&nbsp;Cabot Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos. Inc. | 3.500% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos. Inc. | 3.750% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos. Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;Celanese U.S. Holdings LLC | 6.330% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Celanese U.S. Holdings LLC | 6.379% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 5.900% | &nbsp;&nbsp;&nbsp;&nbsp;7/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 6.050% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC | 6.165% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp;Celulosa Arauco y Constitucion SA | 3.875% | 11/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;Celulosa Arauco y Constitucion SA | 5.500% | 11/2/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;CF Industries Inc. | 5.150% | 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;CF Industries Inc. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;CF Industries Inc. | 5.375% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 4.550% | 11/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 4.800% | 11/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 2.100% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 4.250% | 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 9.400% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 5.250% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 4.625% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 5.550% | 11/30/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. | 6.900% | 5/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | 4.493% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | 4.725% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | 5.319% | 11/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | 5.419% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 358 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 3.800% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | 4.650% | 10/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 2.700% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 3.250% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 5.250% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 4.800% | 3/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 1.300% | 1/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 2.700% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Ecolab Inc. | 2.750% | 8/18/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;EI du Pont de Nemours and Co. | 1.700% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;EI du Pont de Nemours and Co. | 2.300% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Fibria Overseas Finance Ltd. | 4.000% | 1/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;FMC Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;FMC Corp. | 3.200% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;FMC Corp. | 3.450% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;FMC Corp. | 4.500% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.550% | 11/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 5.400% | 11/14/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | 5.450% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 8.000% | 1/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 7.375% | 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC | 8.875% | 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Huntsman International LLC | 2.950% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc. | 4.450% | 9/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc. | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc. | 5.000% | 9/26/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | 5.000% | 9/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | 4.800% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | 4.400% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Kinross Gold Corp. | 5.950% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Kinross Gold Corp. | 4.500% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Linde Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Linde Inc. | 4.700% | 12/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Linde Inc. | 1.100% | 8/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp;Linde Inc. | 3.550% | 11/7/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;LYB International Finance BV | 5.250% | 7/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC | 1.250% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC | 3.375% | 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC | 4.200% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV | 4.625% | 2/26/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 3.500% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 2.500% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 2.400% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 4.250% | 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | 3.200% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | 4.050% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | 5.450% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | 4.875% | 11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | 5.625% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 2.800% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 2.250% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 2.600% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 6.250% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | 5.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | 2.979% | 12/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.950% | 11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 4.000% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 2.950% | 5/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 4.125% | 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.625% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.250% | 1/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Nutrien Ltd. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 3.400% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 3.950% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 4.300% | 7/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;Owens Corning | 4.400% | 1/30/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 3.400% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 3.000% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 4.050% | 12/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 3.050% | 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;PPG Industries Inc. | 2.400% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;PPG Industries Inc. | 2.550% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;Reliance Steel & Aluminum Co. | 1.300% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Reliance Steel & Aluminum Co. | 2.150% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Alcan Inc. | 6.125% | 12/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA Ltd. | 7.125% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA Ltd. | 2.750% | 11/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA plc | 4.750% | 3/22/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA plc | 4.125% | 8/21/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Rohm and Haas Co. | 7.850% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;RPM International Inc. | 3.750% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;RPM International Inc. | 4.250% | 1/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.950% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 2.950% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 2.300% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 4.000% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 3.300% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | 2.900% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 3.875% | 4/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 7.500% | 7/27/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 6.750% | 4/16/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 363 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 5.250% | 11/8/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | 5.875% | 4/23/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 2.400% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 3.450% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 3.250% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | 3.250% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH | 6.000% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 399 |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH | 5.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH | 3.750% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH | 3.125% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Teck Resources Ltd. | 3.900% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Teck Resources Ltd. | 6.000% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 6.250% | 8/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 8.250% | 1/17/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 6.875% | 11/21/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 328 |
| &nbsp;&nbsp;&nbsp;Vale Overseas Ltd. | 6.875% | 11/10/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 475 |
| &nbsp;&nbsp;&nbsp;Vale SA | 5.625% | 9/11/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 132 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | 4.500% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 3.600% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 3.375% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 5.000% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 3.125% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | 3.375% | 8/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;WestRock MWV LLC | 7.950% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 3.000% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 4.650% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 3.375% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 4.900% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;WRKCo Inc. | 3.000% | 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 |
|  |  |  |  | **32983** |
| **Real Estate (1.0%)** | **Real Estate (1.0%)** | **Real Estate (1.0%)** | **Real Estate (1.0%)** | **Real Estate (1.0%)** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 3.450% | 4/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 2.750% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 3.375% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 3.000% | 5/18/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | 3.550% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent LP | 2.375% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent LP | 3.375% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 5.000% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.375% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.950% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 1.600% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 1.450% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.375% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.750% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 453 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.125% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.650% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 1.500% | 1/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.950% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.800% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.900% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.100% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.700% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 2.300% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 4.050% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.700% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 3.100% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.850% | 3/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.950% | 5/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.900% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 3.350% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 3.200% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 2.050% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 3.900% | 10/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | 4.350% | 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.200% | 1/15/25 | &nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 2.750% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 3.400% | 6/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP | 2.900% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp;Brandywine Operating Partnership LP | 3.950% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 3.650% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 4.125% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 3.900% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 4.125% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | 2.800% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 228 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | 3.350% | 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;CBRE Services Inc. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;CBRE Services Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Corporate Office Properties LP | 2.000% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 269 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 1.350% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 4.450% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.700% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.900% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 302 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.800% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 395 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.100% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.250% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.500% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 343 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 4.750% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 5.200% | 2/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Crown Castle International Corp. | 3.250% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 4.000% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 2.250% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 4.375% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 2.000% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;CubeSmart LP | 2.500% | 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust LP | 4.450% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 351 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust LP | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;EPR Properties | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;EPR Properties | 3.600% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 2.625% | 11/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.250% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.000% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 447 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.450% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 2.900% | 11/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.800% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 1.550% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 3.200% | 11/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 2.150% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 2.500% | 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Equinix Inc. | 3.000% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 2.850% | 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 4.150% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 2.500% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.375% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 324 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 3.000% | 1/15/30 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 2.650% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP | 4.500% | 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 3.250% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 3.200% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 4.500% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 5.375% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 173 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 5.300% | 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 260 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 4.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP / GLP Financing II Inc. | 4.000% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Holdings LP | 3.625% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Healthcare Trust of America Holdings LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Healthcare Trust of America Holdings LP | 2.000% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 378 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.250% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.500% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 3.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Highwoods Realty LP | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts LP | 2.900% | 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp;Hudson Pacific Properties LP | 3.950% | 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Hudson Pacific Properties LP | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;Hudson Pacific Properties LP | 3.250% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Invitation Homes Operating Partnership LP | 2.300% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Invitation Homes Operating Partnership LP | 2.700% | 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 3.450% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 4.750% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 4.250% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 3.050% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP | 2.650% | 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 2.800% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 419 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 2.700% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 414 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 4.125% | 12/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;Kite Realty Group LP | 4.000% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Life Storage LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Life Storage LP | 3.875% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Life Storage LP | 4.000% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;Life Storage LP | 2.400% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;LXP Industrial Trust | 2.375% | 10/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 3.750% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 2.750% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP | 1.700% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 3.500% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 4.300% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 2.500% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 4.800% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;National Retail Properties Inc. | 3.100% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 3.625% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors Inc. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Phillips Edison Grocery Center Operating Partnership I LP | 2.625% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp;Physicians Realty LP | 4.300% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Physicians Realty LP | 3.950% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Physicians Realty LP | 2.625% | 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;Piedmont Operating Partnership LP | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 3.250% | 6/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 2.125% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 3.375% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 3.875% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 4.000% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 2.875% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 61 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Prologis LP | 2.250% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 1.250% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 266 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 4.375% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;Prologis LP | 3.000% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Public Storage | 1.500% | 11/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Public Storage | 3.094% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Public Storage | 1.950% | 11/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Public Storage | 3.385% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Public Storage | 2.250% | 11/9/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.875% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.875% | 4/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.625% | 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.125% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.000% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.950% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.650% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 3.100% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 1.800% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | 4.650% | 3/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 4.125% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 2.950% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP | 4.650% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;Rexford Industrial Realty LP | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care LP | 5.125% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care LP | 3.900% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care LP | 3.200% | 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Safehold Operating Partnership LP | 2.850% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.000% | 9/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.300% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 1.375% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 437 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.650% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.250% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 4.250% | 11/30/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.250% | 9/13/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP | 3.800% | 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;SITE Centers Corp. | 3.900% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;SITE Centers Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Spirit Realty LP | 3.200% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Spirit Realty LP | 2.100% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;Spirit Realty LP | 4.000% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Spirit Realty LP | 3.400% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;STORE Capital Corp. | 4.500% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;STORE Capital Corp. | 4.625% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;Sun Communities Operating LP | 2.300% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp;Sun Communities Operating LP | 4.200% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Tanger Properties LP | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Tanger Properties LP | 3.875% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.500% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.200% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.000% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 1.900% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;UDR Inc. | 3.100% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.500% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 2.650% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 4.125% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.250% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 3.000% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 4.750% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 309 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP | 4.875% | 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP | 4.750% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP | 4.950% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP | 5.125% | 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP | 5.625% | 5/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Vornado Realty LP | 3.500% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 3.625% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 2.700% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.250% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.125% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 2.750% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 2.750% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 6.500% | 3/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Welltower Inc. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | 4.000% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | 4.000% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | 7.375% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | 4.250% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;WP Carey Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
|  |  |  |  | **40624** |
| **Technology (2.5%)** | **Technology (2.5%)** | **Technology (2.5%)** | **Technology (2.5%)** | **Technology (2.5%)** |
| &nbsp;&nbsp;&nbsp;Adobe Inc. | 1.900% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| &nbsp;&nbsp;&nbsp;Adobe Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Adobe Inc. | 2.150% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Adobe Inc. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp;Amdocs Ltd. | 2.538% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 3.500% | 12/5/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 3.450% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 1.700% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 2.800% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Analog Devices Inc. | 2.950% | 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.850% | 5/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.800% | 9/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.750% | 1/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.125% | 5/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 829 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 0.550% | 8/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 0.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.250% | 2/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 678 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 418 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 479 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.200% | 5/11/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 736 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.900% | 9/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.200% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.200% | 9/11/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.250% | 8/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 393 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 4.500% | 2/23/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 4.375% | 5/13/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 4.650% | 2/23/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/4/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 3.750% | 11/13/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.650% | 5/11/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.550% | 8/20/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;Apple Inc. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 3.900% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 5.100% | 10/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 5.850% | 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Arrow Electronics Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Arrow Electronics Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Arrow Electronics Inc. | 3.875% | 1/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Autodesk Inc. | 4.375% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Autodesk Inc. | 3.500% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Autodesk Inc. | 2.850% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Autodesk Inc. | 2.400% | 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Automatic Data Processing Inc. | 3.375% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Automatic Data Processing Inc. | 1.700% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;Automatic Data Processing Inc. | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Avnet Inc. | 4.625% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Corp. / Broadcom Cayman Finance Ltd. | 3.875% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 686 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Corp. / Broadcom Cayman Finance Ltd. | 3.500% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 2.250% | 11/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.150% | 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp; 264 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 1.950% | 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.110% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp; 399 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.000% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.750% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 5.000% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.150% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 538 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 2.450% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 394 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.300% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 353 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.419% | 4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp; 523 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.469% | 4/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 | &nbsp;&nbsp; 346 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.187% | 11/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 36 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 4.926% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 481 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.500% | 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp; 501 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Broadcom Inc. | 3.750% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 349 |
|  | &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions Inc. | 3.400% | 6/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions Inc. | 2.900% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions Inc. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Cadence Design Systems Inc. | 4.375% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC / CDW Finance Corp. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC / CDW Finance Corp. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC / CDW Finance Corp. | 3.250% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;CGI Inc. | 1.450% | 9/14/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;CGI Inc. | 2.300% | 9/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 271 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 2.950% | 2/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 2.500% | 9/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 210 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | 5.500% | 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 4.700% | 3/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 250 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 5.750% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 3.900% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 4.375% | 11/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 272 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | 5.450% | 11/15/79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Dell Inc. | 7.100% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 32 |
|  | &nbsp;&nbsp;&nbsp;Dell Inc. | 6.500% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 4.000% | 7/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 5.850% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 203 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 6.020% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp; 1097 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 4.900% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 6.100% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 5.300% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 317 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 6.200% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 8.100% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp; 194 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 3.375% | 12/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 8.350% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 120 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Dell International LLC / EMC Corp. | 3.450% | 12/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;DXC Technology Co. | 1.800% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
|  | &nbsp;&nbsp;&nbsp;DXC Technology Co. | 2.375% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Equifax Inc. | 2.600% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Equifax Inc. | 2.600% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Equifax Inc. | 3.100% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;Equifax Inc. | 2.350% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 0.600% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 1.150% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 3.750% | 5/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 386 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 388 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 656 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 4.200% | 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 541 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Fiserv Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;Flex Ltd. | 4.750% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp;Flex Ltd. | 4.875% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 1.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 2.650% | 2/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 2.150% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 3.200% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 2.900% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 2.900% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 5.400% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 4.150% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Global Payments Inc. | 5.950% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 182 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 4.900% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 495 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 6.200% | 10/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | 6.350% | 10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 2.200% | 6/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 281 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 1.450% | 6/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 3.000% | 6/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 320 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 4.750% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 4.000% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 3.400% | 6/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 423 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 2.650% | 6/17/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 4.200% | 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 5.500% | 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;HP Inc. | 6.000% | 9/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.875% | 5/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.400% | 3/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.700% | 7/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.600% | 5/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 1.600% | 8/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.450% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.900% | 3/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; 324 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.000% | 8/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.000% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.600% | 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 2.800% | 8/12/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.800% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.250% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.100% | 5/19/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.100% | 5/11/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.734% | 12/8/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674 | &nbsp;&nbsp; 507 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.250% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 4.750% | 3/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 349 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.050% | 8/12/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.100% | 2/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 187 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 3.200% | 8/12/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | 5.050% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp; 313 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.625% | 2/12/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.000% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 584 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 7.000% | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 318 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.450% | 2/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp; 274 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.300% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 666 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 1.700% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 6.220% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 6.500% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.500% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 689 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 1.950% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 4.150% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 344 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 5.600% | 11/30/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 2.850% | 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 4.000% | 6/20/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp; 297 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 4.250% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 415 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 2.950% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | 3.430% | &nbsp;&nbsp;&nbsp;&nbsp;2/9/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Intuit Inc. | 0.950% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Intuit Inc. | 1.350% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Intuit Inc. | 1.650% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Jabil Inc. | 3.950% | 1/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Jabil Inc. | 3.600% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Jabil Inc. | 3.000% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Juniper Networks Inc. | 3.750% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Juniper Networks Inc. | 5.950% | 3/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 23 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 4.650% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 4.100% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 4.650% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 5.000% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 4.950% | 7/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | 5.250% | 7/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings Inc. | 2.050% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings Inc. | 2.700% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings Inc. | 3.150% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings Inc. | 4.100% | 10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 3.800% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 3.750% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 4.000% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 1.900% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 4.875% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 2.875% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | 3.125% | 6/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Leidos Inc. | 3.625% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Leidos Inc. | 4.375% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp;Leidos Inc. | 2.300% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Marvell Technology Inc. | 2.450% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Marvell Technology Inc. | 4.875% | 6/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Marvell Technology Inc. | 2.950% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 295 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 2.950% | 11/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.300% | 3/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 191 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.350% | 3/26/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 275 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 2.000% | 11/18/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.950% | 2/26/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp;Mastercard Inc. | 3.850% | 3/26/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;Microchip Technology Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 4.975% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 4.185% | 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 5.327% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 4.663% | 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 3.366% | 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Micron Technology Inc. | 3.477% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.125% | 11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp; 611 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp; 751 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 651 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.500% | 2/12/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 377 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/8/46 | &nbsp;&nbsp;&nbsp;&nbsp;1226 | &nbsp;&nbsp; 1047 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.525% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;1478 | &nbsp;&nbsp; 985 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.921% | 3/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;1364 | &nbsp;&nbsp; 972 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 2.675% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | 3.041% | 3/17/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656 | &nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 4.875% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 3.250% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 2.000% | 8/19/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 2.750% | 8/19/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 4.875% | 12/17/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 3.250% | 5/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 3.750% | 2/25/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | 3.100% | 11/29/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 126 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | 4.600% | 2/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;NetApp Inc. | 3.300% | 9/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;NetApp Inc. | 1.875% | 6/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;NetApp Inc. | 2.375% | 6/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;NetApp Inc. | 2.700% | 6/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 0.584% | 6/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 3.200% | 9/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 1.550% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 214 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 2.000% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/60 | &nbsp;&nbsp; 113 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC | 5.350% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC | 5.550% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 4.300% | 6/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 417 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 2.500% | 5/11/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 2.650% | 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 3.250% | 5/11/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 3.125% | 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;NXP BV / NXP Funding LLC / NXP USA Inc. | 3.250% | 11/30/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 439 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.950% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 409 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp; 867 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 1.650% | 3/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 650 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.650% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp; 516 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 456 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.300% | 3/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 434 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 6.150% | 11/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 469 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 2.875% | 3/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp; 747 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 6.250% | 11/9/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.900% | 5/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.850% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 205 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.800% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp; 414 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 249 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 5.375% | 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 367 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.650% | 3/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/8/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 201 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.125% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 321 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.000% | 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 422 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.000% | 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 349 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp; 628 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.950% | 3/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 432 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 6.900% | 11/9/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.375% | 5/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 335 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | 4.100% | 3/25/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 2.400% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 1.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 2.650% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 277 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 2.850% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 348 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp; 213 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Qorvo Inc. | 1.750% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Qorvo Inc. | 4.375% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 2.900% | 5/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 3.450% | 5/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 3.250% | 5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 381 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 1.300% | 5/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp; 320 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 1.650% | 5/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 5.400% | 5/20/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.650% | 5/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.800% | 5/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.300% | 5/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 304 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 3.250% | 5/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 4.500% | 5/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | 6.000% | 5/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;RELX Capital Inc. | 4.000% | 3/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;RELX Capital Inc. | 3.000% | 5/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;RELX Capital Inc. | 4.750% | 5/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 2.350% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 1.000% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 3.850% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 3.800% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 139 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 1.400% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 424 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 4.200% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 2.950% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | 2.000% | 6/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 228 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 138 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 220 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.500% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 1.250% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 308 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 3.250% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 110 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 2.300% | 8/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 55 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;S&P Global Inc. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 3.700% | 4/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 1.500% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 171 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 1.950% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 2.700% | 7/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 2.900% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;salesforce.com Inc. | 3.050% | 7/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;ServiceNow Inc. | 1.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 305 |
|  | &nbsp;&nbsp;&nbsp;Skyworks Solutions Inc. | 1.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Teledyne FLIR LLC | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | 0.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 2.625% | 5/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 1.375% | 3/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 1.125% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 2.900% | 11/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/4/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 1.750% | &nbsp;&nbsp;&nbsp;&nbsp;5/4/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 1.900% | 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 3.875% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | 4.150% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Thomson Reuters Corp. | 5.500% | 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Thomson Reuters Corp. | 5.850% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Thomson Reuters Corp. | 5.650% | 11/23/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 1.750% | 10/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 3.875% | 4/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 2.500% | 10/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 4.250% | 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 3.125% | 10/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 3.250% | 10/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. | 4.500% | 4/22/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | 4.000% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | 4.125% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | 5.500% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. | 3.625% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 3.150% | 12/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 892 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 1.900% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 0.750% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 2.750% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 1.100% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 4.150% | 12/14/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 2.700% | 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 4.300% | 12/14/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 663 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 3.650% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Visa Inc. | 2.000% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 4.500% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 1.400% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 4.650% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 3.900% | 8/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 1.800% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 4.700% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 465 |
| &nbsp;&nbsp;&nbsp;VMware Inc. | 2.200% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | 4.750% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | 2.850% | 1/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | 1.350% | 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | 6.200% | 11/17/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | 6.200% | 6/21/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 |
| &nbsp;&nbsp;&nbsp;Workday Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;Workday Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;Workday Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp;Xilinx Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;Xilinx Inc. | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 |
|  |  |  |  | **100613** |
| **Utilities (2.3%)** | **Utilities (2.3%)** | **Utilities (2.3%)** | **Utilities (2.3%)** | **Utilities (2.3%)** |
| &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 3.800% | 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;AEP Texas Inc. | 3.450% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 4.000% | 12/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 3.750% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 3.800% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 3.150% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC | 4.500% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;AES Corp. | 1.375% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;AES Corp. | 2.450% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. | 1.450% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.940% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. | 6.125% | 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.850% | 12/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 4.150% | 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 117 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;1/2/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 208 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 4.300% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.450% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.125% | 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 276 |
|  | &nbsp;&nbsp;&nbsp;Alabama Power Co. | 3.000% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 2.500% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 3.650% | 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 1.950% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | 3.500% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 3.800% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Ameren Illinois Co. | 3.250% | 3/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 2.031% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 289 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 3.200% | 11/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 4.300% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | 3.875% | 2/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 118 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 300 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 114 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 2.800% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 240 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 6.593% | 10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.300% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;American Water Capital Corp. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Appalachian Power Co. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 470 |
|  | &nbsp;&nbsp;&nbsp;Appalachian Power Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 352 |
|  | &nbsp;&nbsp;&nbsp;Appalachian Power Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 3.150% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 2.950% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 4.350% | 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 3.750% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co. | 3.500% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 3.000% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 2.625% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 5.500% | 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 4.150% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 4.125% | 10/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 3.375% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 293 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 2.850% | 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Avangrid Inc. | 3.150% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Avangrid Inc. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Avista Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Avista Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 2.400% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 2.250% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 3.500% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 3.750% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 4.250% | 9/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 3.200% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;Baltimore Gas and Electric Co. | 2.900% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 3.250% | 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 3.700% | 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 641 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 105 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 5.950% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 5.150% | 11/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 3.800% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.450% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.250% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Black Hills Corp. | 1.037% | 8/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Black Hills Corp. | 3.950% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 3.150% | 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 3.050% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 4.200% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 3.875% | 10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 6.950% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC | 4.850% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 1.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 4.250% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp. | 1.750% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp. | 5.850% | 1/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 251 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Cleco Corporate Holdings LLC | 3.743% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Cleco Corporate Holdings LLC | 4.973% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Cleveland Electric Illuminating Co. | 5.500% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp;Cleveland Electric Illuminating Co. | 5.950% | 12/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 3.000% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 3.450% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 2.550% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 2.950% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 2.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 5.900% | 3/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 6.450% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.600% | 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.700% | 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.650% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.750% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. | 3.850% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;Connecticut Light and Power Co. | 0.750% | 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 448 |
| &nbsp;&nbsp;&nbsp;Connecticut Light and Power Co. | 3.200% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Connecticut Light and Power Co. | 4.300% | 4/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Connecticut Light and Power Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 2.400% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 492 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 5.850% | 3/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 6.200% | 6/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.450% | 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.500% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 321 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.850% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 113 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.875% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.125% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 326 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 6.150% | 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.000% | 11/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York Inc. | 4.500% | 5/15/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC | 6.250% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC | 5.750% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC | 5.600% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.800% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.600% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp; 17 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.950% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.250% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.950% | 7/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 4.050% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 4.350% | 4/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.100% | 8/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 305 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Delmarva Power & Light Co. | 4.150% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 3.071% | 8/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 3.900% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 1.450% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 2.850% | 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp; 350 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 2.250% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 4.350% | 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 5.375% | 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 6.300% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 5.950% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 4.900% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 247 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 4.050% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | 5.750% | 10/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 2.300% | 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 6.050% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 5.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina Inc. | 4.600% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.650% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 379 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.750% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 2.529% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 4.220% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 246 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 1.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 453 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 2.850% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 3.400% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 2.950% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.950% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 120 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 6.000% | 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 2.450% | 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 2.550% | 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 6.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 6.000% | 1/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 6.050% | 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 5.300% | 2/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 149 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 4.000% | 9/30/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 145 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.875% | 3/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.200% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 282 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC | 3.550% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 151 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.750% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp; 319 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.150% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.300% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 2.550% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.800% | 12/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 4.200% | 6/15/49 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.500% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 5.000% | 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 224 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 3.250% | 1/15/82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 3.800% | 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 2.500% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 364 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 1.750% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 2.400% | 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 6.350% | 9/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 6.400% | 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 3.850% | 11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 3.400% | 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC | 4.200% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke Energy Florida Project Finance LLC | 2.538% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Indiana LLC | 6.350% | 8/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp; 801 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Indiana LLC | 3.750% | 5/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Ohio Inc. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Ohio Inc. | 3.700% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 3.450% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 2.000% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 4.375% | 3/30/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 4.150% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 3.700% | 10/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 3.600% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC | 2.900% | 8/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress NC Storm Funding LLC | 1.295% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp; 79 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Duke Energy Progress NC Storm Funding LLC | 2.387% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Progress NC Storm Funding LLC | 2.799% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Eastern Energy Gas Holdings LLC | 2.500% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Eastern Energy Gas Holdings LLC | 3.600% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Edison International | 5.750% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 25 |
|  | &nbsp;&nbsp;&nbsp;El Paso Electric Co. | 6.000% | 5/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;El Paso Electric Co. | 5.000% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Emera US Finance LP | 3.550% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Emera US Finance LP | 4.750% | 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;Enel Chile SA | 4.875% | 6/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;Entergy Arkansas LLC | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Entergy Arkansas LLC | 2.650% | 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | 2.800% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | 3.750% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 222 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 0.950% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 5.590% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp; 224 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 5.400% | 11/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp; 385 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 2.400% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 3.120% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 4.000% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 4.950% | 1/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC | 2.900% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Entergy Mississippi LLC | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;Entergy Texas Inc. | 1.750% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
|  | &nbsp;&nbsp;&nbsp;Essential Utilities Inc. | 3.566% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;Essential Utilities Inc. | 2.704% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Essential Utilities Inc. | 4.276% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Essential Utilities Inc. | 3.351% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Evergy Inc. | 2.450% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Evergy Inc. | 2.900% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 4.250% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central Inc. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro Inc. | 5.300% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro Inc. | 4.200% | 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 2.900% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.150% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.300% | 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | 3.450% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 3.950% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 3.400% | 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 2.750% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 230 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 4.050% | 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 233 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 4.950% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 5.625% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 5.100% | 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 135 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 4.450% | 4/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 148 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | 4.100% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 24 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 287 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/3/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 167 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; 26 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 5.960% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp; 400 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 4.050% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 108 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.800% | 12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.700% | 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 270 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 3.150% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp; 403 |
|  | &nbsp;&nbsp;&nbsp;Florida Power & Light Co. | 2.875% | 12/4/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 341 |
|  | &nbsp;&nbsp;&nbsp;Fortis Inc. | 3.055% | 10/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp; 274 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 2.200% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Georgia Power Co. | 4.300% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Gulf Power Co. | 3.300% | 5/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
|  | &nbsp;&nbsp;&nbsp;Iberdrola International BV | 6.750% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Indiana Michigan Power Co. | 3.850% | 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Indiana Michigan Power Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;Indiana Michigan Power Co. | 4.250% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 3.250% | 12/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 4.100% | 9/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 119 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 6.250% | 7/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Interstate Power and Light Co. | 3.700% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;ITC Holdings Corp. | 3.650% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;ITC Holdings Corp. | 3.350% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;ITC Holdings Corp. | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;John Sevier Combined Cycle Generation LLC | 4.626% | 1/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp; 59 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Kentucky Utilities Co. | 5.125% | 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Kentucky Utilities Co. | 4.375% | 10/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 85 |
| &nbsp;&nbsp;&nbsp;Kentucky Utilities Co. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;Louisville Gas and Electric Co. | 3.300% | 10/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Louisville Gas and Electric Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 3.500% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 3.650% | 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 6.750% | 12/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 5.750% | 11/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 4.800% | 9/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. | 4.250% | 7/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Mississippi Power Co. | 4.250% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 5.500% | 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;National Grid USA | 5.803% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp; 757 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 1.000% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/7/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 3.900% | 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 3.700% | 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 2.400% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 1.350% | 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 4.023% | 11/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 4.150% | 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 5.250% | 4/20/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 4.400% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 334 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. | 4.300% | 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co. | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co. | 6.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co. | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 2.940% | 3/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 292 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.200% | 6/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.255% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 272 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.450% | 6/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 3.550% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.625% | 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp; 229 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 1.900% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 257 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 2.750% | 11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 412 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 5.000% | 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 4.800% | 12/1/77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings Inc. | 5.650% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 0.950% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 451 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 3.490% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 1.700% | 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 381 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 5.950% | 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp; 78 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 4.800% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 5.650% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 4.375% | 5/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 3.950% | 3/30/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;NiSource Inc. | 5.000% | 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 6.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 6.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 5.350% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 176 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 3.400% | 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 4.000% | 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 3.200% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 3.250% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 5.500% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric Co. | 4.950% | 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 5.950% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 5.375% | 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 179 |
| &nbsp;&nbsp;&nbsp;Ohio Edison Co. | 6.875% | 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;Ohio Power Co. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Ohio Power Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Oklahoma Gas and Electric Co. | 3.800% | 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Oklahoma Gas and Electric Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Oklahoma Gas and Electric Co. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Oklahoma Gas and Electric Co. | 3.850% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.700% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.750% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 7.250% | 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 5.250% | 9/30/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 124 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 4.550% | 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 69 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 5.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.800% | 9/30/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 3.100% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 178 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 2.700% | 11/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC | 5.350% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;ONE Gas Inc. | 2.000% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;ONE Gas Inc. | 4.658% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 108 |
| &nbsp;&nbsp;&nbsp;ONE Gas Inc. | 4.500% | 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.300% | 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 707 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.000% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 267 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 635 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.750% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 389 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.300% | 3/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 4.950% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 451 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 3.500% | 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 2.700% | 9/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 7.700% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 526 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 5.250% | 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 6.100% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 6.250% | 10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 6.350% | 7/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 6.000% | 1/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 4.125% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;PacifiCorp | 4.150% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;PacifiCorp | 3.300% | 3/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;PacifiCorp | 5.350% | 12/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;PECO Energy Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;PECO Energy Co. | 2.800% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Energy Recovery Funding LLC | 2.822% | 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 3.594% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.022% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.263% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.722% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 5.081% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 73 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.451% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 220 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 5.212% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 4.674% | 12/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC | 5.099% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co. Inc. | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/29 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co. Inc. | 4.650% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co. Inc. | 3.640% | 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co. Inc. | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;Pinnacle West Capital Corp. | 1.300% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;Potomac Electric Power Co. | 6.500% | 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 274 |
|  | &nbsp;&nbsp;&nbsp;Potomac Electric Power Co. | 4.150% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;PPL Capital Funding Inc. | 3.100% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp. | 6.250% | 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp. | 4.125% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
|  | &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp. | 4.150% | 10/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp. | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 61 |
|  | &nbsp;&nbsp;&nbsp;Progress Energy Inc. | 7.000% | 10/30/31 | &nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;Progress Energy Inc. | 6.000% | 12/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 3.700% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 1.900% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 1.875% | 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 3.600% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 138 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 4.100% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado | 2.700% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of New Hampshire | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 58 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.000% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 2.250% | 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 227 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.000% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.200% | 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 64 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 2.450% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 43 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas Co. | 2.050% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Public Service Enterprise Group Inc. | 1.600% | 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 388 |
|  | &nbsp;&nbsp;&nbsp;Puget Energy Inc. | 3.650% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 382 |
|  | &nbsp;&nbsp;&nbsp;Puget Energy Inc. | 4.100% | 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 89 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 6.274% | 3/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 128 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 5.757% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 4.300% | 5/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 4.223% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Puget Sound Energy Inc. | 3.250% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 2.500% | 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 232 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 1.700% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 396 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.000% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 4.500% | 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 4.150% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.320% | 4/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. | 3.700% | 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;SCE Recovery Funding LLC | 2.943% | 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 3.250% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 186 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 6.000% | 10/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp;Sempra Energy | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Sierra Pacific Power Co. | 2.600% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 1.100% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.200% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 6.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 2.850% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 248 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.350% | 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 122 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 5.500% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 235 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.050% | 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.900% | 3/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 280 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 4.875% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 147 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. | 3.450% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 2.600% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp; 375 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 2.950% | 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 3.750% | 9/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. | 3.950% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp;Southern Co Gas Capital Corp. | 5.150% | 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 4.475% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 330 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 5.113% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 1.750% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 5.700% | 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp; 301 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 4.000% | 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 273 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 3.750% | 9/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 3.250% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 1.750% | 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 382 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 5.875% | 3/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 4.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 3.950% | 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. | 4.400% | 5/30/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Southern Power Co. | 4.150% | 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 98 |
| &nbsp;&nbsp;&nbsp;Southern Power Co. | 5.150% | 9/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp;Southern Power Co. | 5.250% | 7/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
| &nbsp;&nbsp;&nbsp;Southern Power Co. | 4.950% | 12/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Corp. | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Corp. | 4.050% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Corp. | 3.800% | 9/29/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Corp. | 4.150% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 18 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 2.750% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 408 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 4.100% | 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 6.200% | 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 76 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. | 3.250% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 132 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.300% | 6/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 4.500% | 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.400% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp; 199 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.700% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 4.400% | 11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.750% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 57 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. | 3.150% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 4.100% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 4.350% | 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 4.300% | 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 4.450% | 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 3.625% | 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. | 5.000% | 7/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Toledo Edison Co. | 6.150% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Tucson Electric Power Co. | 3.050% | 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 3.500% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 2.950% | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 2.950% | 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 2.150% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 8.450% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 3.650% | 4/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 3.250% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. | 3.900% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.450% | 2/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.950% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.500% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.800% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.875% | 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.300% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.400% | 3/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 6.000% | 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 6.000% | 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 6.350% | 11/30/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.000% | 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.450% | 2/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.200% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.000% | 11/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.800% | 9/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 4.600% | 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 3.300% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power Co. | 2.950% | 11/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;Washington Gas Light Co. | 3.796% | 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Washington Gas Light Co. | 3.650% | 9/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | 3.550% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | 1.375% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | 2.200% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 |
| &nbsp;&nbsp;&nbsp;Wisconsin Electric Power Co. | 2.050% | 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Wisconsin Electric Power Co. | 4.750% | 9/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp;Wisconsin Electric Power Co. | 4.300% | 10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| &nbsp;&nbsp;&nbsp;Wisconsin Power and Light Co. | 6.375% | 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Wisconsin Power and Light Co. | 3.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 3.300% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 3.350% | 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 1.750% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 4.000% | 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 2.600% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | 3.500% | 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  |  |  |  | **90424** |
| **Total Corporate Bonds (Cost $1,234,006)** | **Total Corporate Bonds (Cost $1,234,006)** | **Total Corporate Bonds (Cost $1,234,006)** | **Total Corporate Bonds (Cost $1,234,006)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1072443** |
| **Sovereign Bonds (3.4%)** | **Sovereign Bonds (3.4%)** | **Sovereign Bonds (3.4%)** | **Sovereign Bonds (3.4%)** | **Sovereign Bonds (3.4%)** |
| &nbsp;&nbsp;&nbsp;African Development Bank | 0.875% | 3/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 537 |
| &nbsp;&nbsp;&nbsp;African Development Bank | 0.875% | 7/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 354 |
| &nbsp;&nbsp;&nbsp;African Development Bank | 4.375% | 11/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.625% | 1/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.375% | 6/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1128 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 4.125% | 9/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.625% | 10/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.500% | 10/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 473 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.000% | 1/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.625% | 4/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 642 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.375% | &nbsp;&nbsp;&nbsp;&nbsp;9/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 900 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.000% | 4/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.625% | 1/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.500% | 1/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp; 1012 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.375% | 8/10/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 254 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 6.220% | 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 3.125% | 8/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 693 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 2.500% | 11/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 | &nbsp;&nbsp; 623 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 5.820% | 6/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 3.125% | 9/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp; 123 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.750% | 9/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.875% | 1/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 0.750% | 10/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 389 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 1.500% | &nbsp;&nbsp;&nbsp;&nbsp;3/4/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 411 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 3.125% | 4/27/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;Asian Development Bank | 3.875% | 9/28/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 221 |
|  | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | 2.250% | 5/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 483 |
|  | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | 0.500% | 5/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 363 |
|  | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | 3.375% | 6/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | 0.500% | 1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 531 |
|  | &nbsp;&nbsp;&nbsp;Canada | 1.625% | 1/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 520 |
|  | &nbsp;&nbsp;&nbsp;Canada | 2.875% | 4/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp; 502 |
|  | &nbsp;&nbsp;&nbsp;Canada | 0.750% | 5/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 712 |
|  | &nbsp;&nbsp;&nbsp;Corp. Andina de Fomento | 1.250% | 10/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Corp. Andina de Fomento | 5.250% | 11/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;Corp. Andina de Fomento | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;2/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Council of Europe Development Bank | 1.375% | 2/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Council of Europe Development Bank | 3.000% | 6/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp;Council of Europe Development Bank | 0.875% | 9/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 1.625% | 9/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp; 257 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 1.500% | 2/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 0.500% | 5/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 0.500% | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 448 |
|  | &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development | 0.500% | 1/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 445 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 3.250% | 1/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp; 797 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.625% | 3/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp; 517 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.250% | 6/24/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 531 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.500% | 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 1.625% | 3/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.625% | 7/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp; 1457 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.750% | 8/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 769 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.375% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1783 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.375% | 3/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 882 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.750% | 10/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 1.375% | 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 537 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 2.375% | 5/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 209 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.625% | 10/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 424 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 3.250% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 481 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 1.625% | 10/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.875% | 5/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 0.750% | 9/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 392 |
|  | &nbsp;&nbsp;&nbsp;European Investment Bank | 4.875% | 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 346 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Export Development Canada | 2.625% | 2/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 244 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Export Development Canada | 3.375% | 8/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 536 |
|  | &nbsp;&nbsp;&nbsp;Export Development Canada | 3.000% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 428 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 4.000% | 1/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 644 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 4.000% | 9/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 737 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 2.625% | 5/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 187 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 1.625% | 1/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 4.250% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 195 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 1.250% | 9/21/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 384 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 2.125% | 1/18/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea | 2.500% | 6/29/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Hydro-Quebec | 8.050% | &nbsp;&nbsp;&nbsp;&nbsp;7/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 340 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.625% | 1/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.000% | 2/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 882 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 588 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.500% | 9/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 559 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.125% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 1050 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 1.750% | 3/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 462 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 7.000% | 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp; 141 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.625% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp; 1184 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.875% | 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 694 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.000% | 7/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;7/7/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp; 417 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 0.625% | 9/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 679 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 1.125% | 7/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 255 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.125% | 9/18/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp; 827 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 1.125% | 1/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.875% | 10/28/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Inter-American Development Bank | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;8/7/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 3/19/24 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp; 1071 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.500% | 8/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp; 661 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 11/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 722 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.625% | 1/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.625% | 4/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp; 1376 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.375% | 7/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1356 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 7/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;1150 | &nbsp;&nbsp; 1098 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.500% | 10/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1797 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 3.125% | 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp; 454 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.875% | 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 11/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 324 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.750% | 11/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp; 765 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.125% | 9/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1271 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 3.625% | 9/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp; 751 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.750% | 10/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 172 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.875% | 5/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 318 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 0.750% | 8/26/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 624 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.250% | 2/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp; 525 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 1.625% | 11/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1231 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 2.500% | 3/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development | 4.750% | 2/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 259 |
|  | &nbsp;&nbsp;&nbsp;International Finance Corp. | 1.375% | 10/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;International Finance Corp. | 0.375% | 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 362 |
|  | &nbsp;&nbsp;&nbsp;International Finance Corp. | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;4/7/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 559 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Israel Government Aid Bond | 5.500% | 4/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 479 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Israel Government Aid Bond | 5.500% | 9/18/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 107 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.250% | 7/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 297 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.375% | 7/31/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 0.500% | 4/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 472 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.000% | 5/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 486 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 1.750% | 10/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.125% | 2/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp; 313 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 0.625% | 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 361 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.750% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp; 418 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.375% | 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.250% | 11/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.875% | 7/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.750% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 736 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.250% | 7/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 280 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 3.500% | 10/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 330 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 2.125% | 2/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp; 364 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | 1.250% | 1/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 390 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency | 2.750% | 4/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 278 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency | 3.250% | 5/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 189 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency | 1.750% | 4/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 161 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 2.625% | 2/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 390 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.250% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp; 664 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 1.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 855 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.500% | 9/20/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp; 769 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 1.250% | 1/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;1725 | &nbsp;&nbsp;&nbsp; 1615 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;5/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 142 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.375% | 7/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp; 1357 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.625% | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 895 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 1.000% | 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 888 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 3.000% | 5/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 534 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 2.875% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 470 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 1.750% | 9/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.000% | 4/18/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 229 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;KFW | 0.000% | 6/29/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 110 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;Kingdom of Jordan AID | 3.000% | 6/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 3.750% | 1/22/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 494 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 2.125% | 10/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 0.750% | 1/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 1.375% | 4/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 173 |
|  | &nbsp;&nbsp;&nbsp;Korea Development Bank | 1.625% | 1/19/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 314 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 2.000% | 1/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 809 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 0.500% | 5/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 365 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 2.375% | 6/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 453 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 1.750% | 7/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 252 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 2.500% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 231 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;9/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 394 |
|  | &nbsp;&nbsp;&nbsp;Nordic Investment Bank | 2.250% | 5/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 193 |
|  | &nbsp;&nbsp;&nbsp;Nordic Investment Bank | 0.375% | 9/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 539 |
|  | &nbsp;&nbsp;&nbsp;Nordic Investment Bank | 0.500% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 178 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG | 1.500% | 2/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG | 0.375% | 9/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 449 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG | 0.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 444 |
| <sup>10</sup> | &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG | 3.625% | &nbsp;&nbsp;&nbsp;&nbsp;9/9/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 390 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 4.375% | 10/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 152 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 4.375% | 1/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp; 465 |
|  | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 5.750% | 10/28/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp; 231 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 7.625% | 3/21/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp; 247 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 4.125% | 11/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 5.100% | 6/18/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp; 683 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay | 4.975% | 4/20/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp; 355 |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 2.950% | 1/23/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 294 |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 1.875% | 11/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; 427 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 1.000% | 5/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp; 446 |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 3.300% | 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Province of Alberta | 1.300% | 7/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 400 |
|  | &nbsp;&nbsp;&nbsp;Province of British Columbia | 1.750% | 9/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Province of British Columbia | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;6/2/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 279 |
|  | &nbsp;&nbsp;&nbsp;Province of British Columbia | 0.900% | 7/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 266 |
|  | &nbsp;&nbsp;&nbsp;Province of Manitoba | 2.600% | 4/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Province of Manitoba | 2.125% | 6/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 83 |
|  | &nbsp;&nbsp;&nbsp;Province of Manitoba | 1.500% | 10/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 297 |
|  | &nbsp;&nbsp;&nbsp;Province of New Brunswick | 3.625% | 2/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp; 101 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 3.050% | 1/29/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 245 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 3.200% | 5/16/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 147 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 2.500% | 4/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 2.300% | 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp; 836 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 3.100% | 5/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 569 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 2.000% | 10/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp; 503 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 1.125% | 10/7/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 393 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 1.600% | 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 487 |
|  | &nbsp;&nbsp;&nbsp;Province of Ontario | 1.800% | 10/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 1.500% | 2/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp; 414 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 0.600% | 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 453 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 2.500% | 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 188 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 2.750% | 4/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; 797 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 7.500% | 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 558 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 1.350% | 5/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 323 |
|  | &nbsp;&nbsp;&nbsp;Province of Quebec | 1.900% | 4/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp; 994 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.125% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp; 460 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.240% | &nbsp;&nbsp;&nbsp;&nbsp;2/6/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 427 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 2.450% | 1/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 2.550% | 7/27/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp; 314 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.500% | 1/31/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp; 513 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 4.340% | &nbsp;&nbsp;&nbsp;&nbsp;3/7/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 339 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.500% | 1/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 4.000% | 1/31/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.100% | 1/22/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp; 312 |
|  | &nbsp;&nbsp;&nbsp;Republic of Chile | 3.250% | 9/21/71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;Republic of Hungary | 5.375% | 3/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 350 |
|  | &nbsp;&nbsp;&nbsp;Republic of Hungary | 7.625% | 3/29/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 262 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.100% | 4/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.750% | 2/11/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp; 426 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.400% | 9/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 2.850% | 2/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.850% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 189 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.350% | 1/11/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp; 625 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.700% | 10/30/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.200% | 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp; 356 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.050% | 3/12/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 290 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.300% | 3/31/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 169 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 5.450% | 9/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 3.200% | 9/23/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 137 |
|  | &nbsp;&nbsp;&nbsp;Republic of Indonesia | 4.450% | 4/15/70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 168 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 0.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 468 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 2.375% | 10/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 1.250% | 2/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 435 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 2.875% | 10/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 332 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 5.375% | 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp; 454 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 4.000% | 10/17/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 354 |
|  | &nbsp;&nbsp;&nbsp;Republic of Italy | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;5/6/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 265 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 5.625% | 11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 2.750% | 1/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp; 940 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 2.500% | 6/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 1.750% | 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;Republic of Korea | 3.875% | 9/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 3.750% | 3/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp; 200 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 7.125% | 1/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 8.875% | 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp; 275 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 3.875% | 3/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp; 434 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 9.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 357 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 2.252% | 9/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 371 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 6.400% | 2/14/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 203 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Panama | 6.700% | 1/26/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292 | &nbsp;&nbsp; 306 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Panama | 4.500% | 4/16/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 423 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Panama | 4.300% | 4/29/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 291 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 367 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Panama | 3.870% | 7/23/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 485 |
|  | &nbsp;&nbsp;&nbsp;Republic of Panama | 4.500% | 1/19/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 7.350% | 7/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 236 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 2.392% | 1/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 2.783% | 1/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp; 747 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 1.862% | 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 8.750% | 11/21/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp; 788 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 3.000% | 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp; 593 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Republic of Peru | 6.550% | 3/14/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 344 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 3.300% | 3/11/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 5.625% | 11/18/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 198 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 3.600% | 1/15/72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; 180 |
|  | &nbsp;&nbsp;&nbsp;Republic of Peru | 3.230% | 7/28/21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp; 307 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 9.500% | 10/21/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 381 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 10.625% | 3/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 5.500% | 3/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 231 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 5.170% | 10/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 306 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 372 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.750% | 1/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 382 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 9.500% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 382 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 2.457% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 7.750% | 1/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 478 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 1.648% | 6/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp;1/6/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 6.375% | 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 223 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 5.609% | 4/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp; 317 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 6.375% | 10/23/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp; 609 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.950% | 1/20/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 339 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 326 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/2/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 2.950% | &nbsp;&nbsp;&nbsp;&nbsp;5/5/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 144 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 2.650% | 12/10/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 134 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 3.200% | &nbsp;&nbsp;&nbsp;&nbsp;7/6/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 365 |
|  | &nbsp;&nbsp;&nbsp;Republic of Philippines | 5.950% | 10/13/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 214 |
|  | &nbsp;&nbsp;&nbsp;Republic of Poland | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;4/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 479 |
|  | &nbsp;&nbsp;&nbsp;Republic of Poland | 5.500% | 11/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 231 |
|  | &nbsp;&nbsp;&nbsp;Republic of Poland | 5.750% | 11/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 213 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 2.875% | 3/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 3.250% | 1/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 284 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 2.500% | 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/3/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 545 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 4.500% | 1/30/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 4.125% | 1/17/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 3.375% | 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp;7/3/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 335 |
|  | &nbsp;&nbsp;&nbsp;State of Israel | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/3/20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 175 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.375% | 3/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 758 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.375% | 7/30/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.625% | 10/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.625% | 5/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 456 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 0.500% | 8/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp; 719 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 4.625% | 11/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247 | &nbsp;&nbsp; 247 |
|  | &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB | 2.250% | 3/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 3.900% | 4/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 395 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.125% | 1/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp; 434 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.150% | 3/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 780 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 3.750% | 1/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; 638 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.500% | 4/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp; 907 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 3.250% | 4/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp; 336 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 2.659% | 5/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 483 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 8.300% | 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/8/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 112 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 6.050% | 1/11/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp; 856 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.280% | 8/14/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp; 669 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;3/8/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp; 618 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 5.550% | 1/21/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.600% | 1/23/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 467 |
|  | &nbsp;&nbsp;&nbsp;United Mexican States | 4.350% | 1/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp; 420 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;United Mexican States | 4.600% | 2/10/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 4.500% | 1/31/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 5.000% | 4/27/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp; 488 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 4.400% | 2/12/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 3.771% | 5/24/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp; 508 |
| &nbsp;&nbsp;&nbsp;United Mexican States | 5.750% | 10/12/10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp; 288 |
| **Total Sovereign Bonds (Cost $150,924)** | **Total Sovereign Bonds (Cost $150,924)** | **Total Sovereign Bonds (Cost $150,924)** | **Total Sovereign Bonds (Cost $150,924)** | &nbsp;&nbsp;&nbsp;&nbsp;**135482** |
| **Taxable Municipal Bonds (0.7%)** | **Taxable Municipal Bonds (0.7%)** | **Taxable Municipal Bonds (0.7%)** | **Taxable Municipal Bonds (0.7%)** | **Taxable Municipal Bonds (0.7%)** |
| &nbsp;&nbsp;&nbsp;Alabama Economic Settlement Authority Miscellaneous Revenue | 3.163% | 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;American Municipal Power Inc. Electric Power & Light Revenue | 5.939% | 2/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp;American Municipal Power Inc. Electric Power & Light Revenue | 7.499% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;American Municipal Power Inc. Electric Power & Light Revenue (Combination Hydroelectric Projects) | 8.084% | 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp; 225 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 2.574% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 6.918% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 117 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 6.263% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 7.043% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 6.907% | 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority Highway Revenue | 3.126% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp;California GO | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;California GO | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;California GO | 1.700% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;California GO | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;California GO | 2.500% | 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp;California GO | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp; 183 |
| &nbsp;&nbsp;&nbsp;California GO | 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 423 |
| &nbsp;&nbsp;&nbsp;California GO | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp; 282 |
| &nbsp;&nbsp;&nbsp;California GO | 7.550% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp; 789 |
| &nbsp;&nbsp;&nbsp;California GO | 7.300% | 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp;California GO | 7.350% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; 702 |
| &nbsp;&nbsp;&nbsp;California GO | 7.625% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp;California GO | 7.600% | 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 256 |
| &nbsp;&nbsp;&nbsp;California State University College & University Revenue | 3.899% | 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;California State University College & University Revenue | 2.975% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp;Central Puget Sound Regional Transit Authority Sales & Sales Tax Revenue Bonds | 5.491% | 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp;Chicago IL GO | 7.045% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 36 |
| &nbsp;&nbsp;&nbsp;Chicago IL GO, Prere. | 7.045% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport Port, Airport & Marina Revenue | 6.395% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport Port, Airport & Marina Revenue | 4.472% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport Port, Airport & Marina Revenue | 4.572% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp;Chicago Transit Authority Sales & Transfer Tax Receipts Sales Tax Revenue | 6.899% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp;Clark County Department of Aviation Port, Airport & Marina Revenue | 6.820% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Commonwealth Financing Authority Appropriations Revenue | 3.807% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Commonwealth Financing Authority Appropriations Revenue (Plancon Program) | 3.864% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 4.110% | 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 241 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 5.456% | 12/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 157 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 2.514% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 2.813% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts GO | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 69 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Massachusetts Transportation Fund Fuel Sales Tax Revenue | 5.731% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;Connecticut GO | 5.090% | 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 176 |
|  | &nbsp;&nbsp;&nbsp;Connecticut GO | 5.850% | 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 211 |
|  | &nbsp;&nbsp;&nbsp;Cook County IL GO | 6.229% | 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Dallas Area Rapid Transit Sales Tax Revenue | 5.999% | 12/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 109 |
|  | &nbsp;&nbsp;&nbsp;Dallas Area Rapid Transit Sales Tax Revenue | 5.022% | 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
|  | &nbsp;&nbsp;&nbsp;Dallas Convention Center Hotel Development Corp. Hotel Occupancy Tax Revenue | 7.088% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 82 |
| <sup>11</sup> | &nbsp;&nbsp;&nbsp;Dallas Independent School District GO | 6.450% | 2/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Dallas-Fort Worth International Airport Port, Airport & Marina Revenue | 2.994% | 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Dallas-Fort Worth International Airport Port, Airport & Marina Revenue | 3.144% | 11/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Dallas-Fort Worth International Airport Port, Airport & Marina Revenue | 4.507% | 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;District of Columbia Income Tax Revenue | 5.591% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 52 |
|  | &nbsp;&nbsp;&nbsp;District of Columbia Water & Sewer Authority Water Revenue | 4.814% | 10/1/14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 130 |
|  | &nbsp;&nbsp;&nbsp;East Bay Municipal Utility District Water System Water Revenue | 5.874% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Florida State Board of Administration Finance Corp. Miscellaneous Revenue | 1.705% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 218 |
|  | &nbsp;&nbsp;&nbsp;Foothill-Eastern Transportation Corridor Agency Highway Revenue | 4.094% | 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp; 106 |
|  | &nbsp;&nbsp;&nbsp;Georgia Municipal Electric Authority Electric Power & Light Revenue | 6.637% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp; 256 |
|  | &nbsp;&nbsp;&nbsp;Georgia Municipal Electric Authority Electric Power & Light Revenue | 6.655% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp; 155 |
|  | &nbsp;&nbsp;&nbsp;Georgia Municipal Electric Authority Electric Power & Light Revenue | 7.055% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Corp. Tobacco Settlement Funded Revenue | 3.115% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Corp. Tobacco Settlement Funded Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 162 |
|  | &nbsp;&nbsp;&nbsp;Golden State Tobacco Securitization Corp. Tobacco Settlement Funded Revenue | 4.214% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;Grand Parkway Transportation Corp. Texas System Highway Revenue | 3.236% | 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp; 280 |
|  | &nbsp;&nbsp;&nbsp;Great Lakes Water Authority Sewage Disposal System Sewer Revenue | 3.056% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;Houston TX GO | 6.290% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/32 | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 115 |
|  | &nbsp;&nbsp;&nbsp;Illinois GO | 5.100% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;1405 | &nbsp;&nbsp; 1348 |
|  | &nbsp;&nbsp;&nbsp;Illinois State Toll Highway Authority Highway Revenue | 6.184% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;Indiana Finance Authority Appropriations Revenue | 3.051% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;JobsOhio Beverage System Miscellaneous Revenue | 3.985% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
| &nbsp;&nbsp;&nbsp;JobsOhio Beverage System Miscellaneous Revenue | 4.532% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp;JobsOhio Beverage System Miscellaneous Revenue | 2.833% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp;Los Angeles CA Unified School District GO | 5.755% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp;Los Angeles CA Unified School District GO | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;Los Angeles CA Unified School District GO | 6.758% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp;Los Angeles Community College District GO | 1.606% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp;Los Angeles Community College District GO | 1.806% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 123 |
| &nbsp;&nbsp;&nbsp;Los Angeles Community College District GO | 2.106% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp;Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue | 5.735% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp;Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue | 7.618% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 61 |
| &nbsp;&nbsp;&nbsp;Los Angeles Department of Water & Power System Electric Power & Light Revenue | 6.574% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Los Angeles Department of Water & Power System Water Revenue | 6.603% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Louisiana Gasoline & Fuels Sales Tax Revenue | 2.952% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue | 3.615% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp;Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue | 4.145% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp;Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue | 4.475% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 140 |
| &nbsp;&nbsp;&nbsp;Maryland Health & Higher Educational Facilities Authority Health, Hospital, Nursing Home Revenue | 3.197% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 164 |
| &nbsp;&nbsp;&nbsp;Maryland State Transportation Authority Transit Revenue | 5.888% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 5.715% | 8/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 3.395% | 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;Massachusetts School Building Authority Sales Tax Revenue | 2.950% | 5/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
| &nbsp;&nbsp;&nbsp;Massachusetts Water Resources Authority Water Revenue | 2.823% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp;Metropolitan Government of Nashville & Davidson County TN Hotel Occupancy Tax Revenue | 6.731% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Miscellaneous Taxes Revenue | 7.336% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 490 |
| &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Transit Revenue | 5.871% | 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Transit Revenue | 5.175% | 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp;Metropolitan Washington Airports Authority Dulles Toll Road Highway Revenue | 7.462% | 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp;Metropolitan Water Reclamation District of Greater Chicago GO | 5.720% | 12/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 106 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County FL Aviation Port, Airport & Marina Revenue | 4.280% | 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;Miami-Dade County FL Water & Sewer Water Revenue | 3.490% | 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Michigan Finance Authority Health, Hospital, Nursing Home Revenue | 3.084% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 63 |
|  | &nbsp;&nbsp;&nbsp;Michigan Finance Authority Health, Hospital, Nursing Home Revenue | 3.384% | 12/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 160 |
|  | &nbsp;&nbsp;&nbsp;Michigan State University College & University Revenue | 4.496% | 8/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 45 |
|  | &nbsp;&nbsp;&nbsp;Michigan State University College & University Revenue | 4.165% | 8/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Mississippi GO | 5.245% | 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Missouri Health & Educational Facilities Authority College & University Revenue | 3.229% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 73 |
|  | &nbsp;&nbsp;&nbsp;Missouri Health & Educational Facilities Authority College & University Revenue | 3.652% | 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 77 |
| <sup>12</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 7.425% | 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Rutgers State University College & University Revenue | 3.915% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 50 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.081% | 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 62 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 6.561% | 12/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 215 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.131% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 80 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 7.414% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 124 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 7.102% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; 482 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Revenue Water Revenue | 5.750% | 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 54 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Revenue Water Revenue | 5.440% | 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Water Revenue | 5.952% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Water Revenue | 6.011% | 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority Water Revenue | 5.882% | 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.767% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp; 150 |
|  | &nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.572% | 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
|  | &nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority Future Tax Secured Sales Tax Revenue | 5.508% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;New York NY GO | 5.517% | 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;New York NY GO | 6.271% | 12/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 110 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority College & University Revenue | 3.142% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp; 197 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Income Tax Revenue | 3.110% | 2/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Income Tax Revenue | 5.628% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 103 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Income Tax Revenue | 3.190% | 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority Lease (Appropriation) Revenue | 2.202% | 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 152 |
|  | &nbsp;&nbsp;&nbsp;New York State Thruway Authority Highway Revenue | 2.900% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;New York State Thruway Authority Highway Revenue | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;New York State Urban Development Corp. Income Tax Revenue | 3.900% | 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;New York State Urban Development Corp. Income Tax Revenue | 5.770% | 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 154 |
|  | &nbsp;&nbsp;&nbsp;North Texas Tollway Authority Highway Revenue | 3.011% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 37 |
|  | &nbsp;&nbsp;&nbsp;North Texas Tollway Authority Highway Revenue | 6.718% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Ohio State University College & University Revenue | 4.910% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Ohio State University College & University Revenue | 4.800% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;Ohio State University General Receipts College & University Revenue | 3.798% | 12/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 84 |
|  | &nbsp;&nbsp;&nbsp;Ohio Turnpike & Infrastructure Commission Highway Revenue | 3.216% | 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 53 |
|  | &nbsp;&nbsp;&nbsp;Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue | 4.879% | 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Oregon Department of Transportation Fuel Sales Tax Revenue | 5.834% | 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 161 |
|  | &nbsp;&nbsp;&nbsp;Oregon GO | 5.762% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp; 40 |
|  | &nbsp;&nbsp;&nbsp;Oregon GO | 5.892% | &nbsp;&nbsp;&nbsp;&nbsp;6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 77 |
| <sup>13</sup> | &nbsp;&nbsp;&nbsp;Oregon School Boards Assn. GO | 5.528% | 6/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
| <sup>14</sup> | &nbsp;&nbsp;&nbsp;Oregon State University College & University Revenue | 3.424% | &nbsp;&nbsp;&nbsp;&nbsp;3/1/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;Pennsylvania State University College & University Revenue | 2.790% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Pennsylvania State University College & University Revenue | 2.840% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 66 |
|  | &nbsp;&nbsp;&nbsp;Pennsylvania Turnpike Commission Highway Revenue | 5.511% | 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 75 |
|  | &nbsp;&nbsp;&nbsp;Permanent University Fund - Texas A&M University System College & University Revenue | 3.100% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 55 |
|  | &nbsp;&nbsp;&nbsp;Permanent University Fund - University of Texas System College & University Revenue | 3.376% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 39 |
|  | &nbsp;&nbsp;&nbsp;Philadelphia PA Water & Wastewater Water Revenue | 2.926% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 35 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 6.040% | 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.960% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 243 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.310% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.031% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 25 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 3.139% | 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp; 142 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.926% | 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 94 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 3.175% | 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.458% | 10/1/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp; 412 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.810% | 10/15/65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 3.287% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;Port of Morrow OR Nuclear Revenue | 2.543% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 71 |
|  | &nbsp;&nbsp;&nbsp;Regional Transportation District Sales Tax Revenue | 5.844% | 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 110 |

---

------

Total Bond Market Index Portfolio

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Riverside County CA Appropriations Revenue | 3.818% | 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 44 |
|  | &nbsp;&nbsp;&nbsp;Rutgers State University of New Jersey College & University Revenue | 5.665% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Rutgers State University of New Jersey College & University Revenue | 3.270% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp; 19 |
|  | &nbsp;&nbsp;&nbsp;Sales Tax Securitization Corp. Illinois Sales Tax Revenue | 3.587% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp; 60 |
|  | &nbsp;&nbsp;&nbsp;Sales Tax Securitization Corp. Illinois Sales Tax Revenue | 3.820% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Sales Tax Securitization Corp. Illinois Sales Tax Revenue | 4.787% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 4.839% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 146 |
|  | &nbsp;&nbsp;&nbsp;San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.985% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 136 |
|  | &nbsp;&nbsp;&nbsp;San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.808% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 2.905% | &nbsp;&nbsp;&nbsp;&nbsp;2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 70 |
|  | &nbsp;&nbsp;&nbsp;San Diego County Water Authority Water Revenue | 6.138% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 111 |
|  | &nbsp;&nbsp;&nbsp;San Francisco CA Public Utilities Commission Water Revenue | 6.950% | 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 121 |
|  | &nbsp;&nbsp;&nbsp;San Jose Redevelopment Agency Successor Agency Tax Allocation Revenue | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 88 |
|  | &nbsp;&nbsp;&nbsp;Santa Clara Valley Transportation Authority Sales Tax Revenue | 5.876% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp; 207 |
|  | &nbsp;&nbsp;&nbsp;South Carolina Public Service Authority Electric Power & Light Revenue | 6.454% | &nbsp;&nbsp;&nbsp;&nbsp;1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 104 |
|  | &nbsp;&nbsp;&nbsp;State Board of Administration Finance Corp. Miscellaneous Revenue | 1.258% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp; 298 |
|  | &nbsp;&nbsp;&nbsp;State Board of Administration Finance Corp. Miscellaneous Revenue | 2.154% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 205 |
|  | &nbsp;&nbsp;&nbsp;State Public School Building Authority Miscellaneous Revenue | 5.000% | 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 50 |
|  | &nbsp;&nbsp;&nbsp;Texas GO | 5.517% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp; 190 |
|  | &nbsp;&nbsp;&nbsp;Texas GO | 4.681% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 49 |
|  | &nbsp;&nbsp;&nbsp;Texas GO | 3.211% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Texas Private Activity Bond Surface Transportation Corp. Highway Revenue | 3.922% | 12/31/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 133 |
|  | &nbsp;&nbsp;&nbsp;Texas Transportation Commission GO | 2.562% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp; 74 |
|  | &nbsp;&nbsp;&nbsp;Texas Transportation Commission GO | 2.472% | 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; 85 |
|  | &nbsp;&nbsp;&nbsp;Texas Transportation Commission State Highway Fund Fuel Sales Tax Revenue | 5.178% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp; 178 |
|  | &nbsp;&nbsp;&nbsp;Texas Transportation Commission State Highway Fund Miscellaneous Revenue | 4.000% | 10/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 91 |
| <sup>13</sup> | &nbsp;&nbsp;&nbsp;Tucson AZ COP | 2.856% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 33 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 0.883% | 5/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 92 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 3.063% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 1.316% | 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 1.614% | 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp; 100 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 5.946% | 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 3.071% | 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 67 |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 4.858% | 5/15/12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp; 190 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | Maturity<br> Date | &nbsp;&nbsp;Face<br> Amount<br> ($000) | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;University of California College & University Revenue | 4.767% | 5/15/15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 82 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 6.548% | 5/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; 398 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 6.583% | 5/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 57 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 3.006% | 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp; 86 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 4.563% | 5/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 87 |
|  | &nbsp;&nbsp;&nbsp;University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue | 3.706% | 5/15/20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;University of Michigan College & University Revenue | 2.437% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 72 |
|  | &nbsp;&nbsp;&nbsp;University of Michigan College & University Revenue | 2.562% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 65 |
|  | &nbsp;&nbsp;&nbsp;University of Michigan College & University Revenue | 4.454% | &nbsp;&nbsp;&nbsp;&nbsp;4/1/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp; 182 |
|  | &nbsp;&nbsp;&nbsp;University of Nebraska Facilities Corp. College & University Revenue | 3.037% | 10/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp; 46 |
|  | &nbsp;&nbsp;&nbsp;University of Pittsburgh-of the Commonwealth System of Higher Education College & University Revenue | 3.555% | 9/15/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp; 153 |
|  | &nbsp;&nbsp;&nbsp;University of Texas System Regents College & University Revenue | 4.794% | 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 99 |
|  | &nbsp;&nbsp;&nbsp;University of Texas System Regents College & University Revenue | 3.354% | 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;University of Texas System Regents College & University Revenue | 2.439% | 8/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 31 |
|  | &nbsp;&nbsp;&nbsp;University of Virginia College & University Revenue | 2.256% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp; 204 |
|  | &nbsp;&nbsp;&nbsp;University of Virginia College & University Revenue | 4.179% | &nbsp;&nbsp;&nbsp;&nbsp;9/1/17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 38 |
|  | &nbsp;&nbsp;&nbsp;Utah GO | 4.554% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp; 20 |
|  | &nbsp;&nbsp;&nbsp;Utah GO | 3.539% | &nbsp;&nbsp;&nbsp;&nbsp;7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp; 36 |
|  | &nbsp;&nbsp;&nbsp;Washington GO | 5.140% | &nbsp;&nbsp;&nbsp;&nbsp;8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp; 151 |
| <sup>13</sup> | &nbsp;&nbsp;&nbsp;Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue | 3.846% | 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp; 35 |
| <sup>13</sup> | &nbsp;&nbsp;&nbsp;Wisconsin Appropriations Revenue | 5.700% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 56 |
|  | &nbsp;&nbsp;&nbsp;Wisconsin Appropriations Revenue | 3.154% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; 93 |
|  | &nbsp;&nbsp;&nbsp;Wisconsin Appropriations Revenue | 3.954% | &nbsp;&nbsp;&nbsp;&nbsp;5/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; 225 |
| **Total Taxable Municipal Bonds (Cost $30,580)** | **Total Taxable Municipal Bonds (Cost $30,580)** | **Total Taxable Municipal Bonds (Cost $30,580)** | **Total Taxable Municipal Bonds (Cost $30,580)** | **Total Taxable Municipal Bonds (Cost $30,580)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27104** |

---

------

Total Bond Market Index Portfolio

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;Shares | Market<br> Value• ($000) |
| **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** | **Temporary Cash Investments (0.4%)** |
| **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** | **Money Market Fund (0.4%)** |
| <sup>15</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund **(Cost** $**18,262**) | 4.334% | 182644 | &nbsp;&nbsp; **18262** |
| **Total Investments (99.8%) (Cost $4,511,055)** | **Total Investments (99.8%) (Cost $4,511,055)** | **Total Investments (99.8%) (Cost $4,511,055)** | **Total Investments (99.8%) (Cost $4,511,055)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3965392** |
| **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7104** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3972496** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. |  |  |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| 1 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
| 2 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
| 3 | Includes securities purchased on a when-issued or delayed-delivery basis for which the portfolio has not taken delivery as of December 31, 2022. |
| 4 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
| 5 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2022, the aggregate value was $16,726,000, representing 0.4% of net assets. |
| 6 | Guaranteed by the Government of Canada. |
| 7 | U.S. government-guaranteed. |
| 8 | Guaranteed by the Government of Japan. |
| 9 | Guaranteed by the Federal Republic of Germany. |
| 10 | Guaranteed by the Republic of Austria. |
| 11 | Scheduled principal and interest payments are guaranteed by Texas Permanent School Fund. |
| 12 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
| 13 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp. |
| 14 | Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co. |
| 15 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
|  | 12M—12-month. |
|  | 1YR—1-year. |
|  | 6M—6-month. |
|  | CMT—Constant Maturing Treasury Rate. |
|  | COP—Certificate of Participation. |
|  | DAC—Designated Activity Company. |
|  | GO—General Obligation Bond. |
|  | LIBOR—London Interbank Offered Rate. |
|  | Prere.—Prerefunded. |
|  | REMIC—Real Estate Mortgage Investment Conduits. |
|  | UMBS—Uniform Mortgage-Backed Securities. |
|  | USD—U.S. dollar. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Bond Market Index Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $4,492,793) | &nbsp;&nbsp;3947130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $18,262) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18262 |
| Total Investments in Securities | 3965392 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33389 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25593 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787 |
| **Total Assets** | **4026306** |
| **Liabilities** |  |
| Due to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45575 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7954 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53810** |
| **Net Assets** | **3972496** |
| **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;4477091 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;(504595) |
| **Net Assets** | **3972496** |
| **Net Assets** |  |
| **Applicable to 385,049,268 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **3972496** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$10.32** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Bond Market Index Portfolio

#### Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Interest<sup>1</sup> | 104685 |
| Total Income | 104685 |
| **Expenses** |  |
| The Vanguard Group—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;1115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;4280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;6000 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;5999 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;**98686** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>1</sup> | &nbsp;&nbsp;&nbsp;(47000) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;**(47018)** |
| **Change in Unrealized Appreciation (Depreciation) of Investment Securities<sup>1</sup>** | **(687610)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(635942)** |

---

---

| | |
|:---|:---|
| 1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $225,000, ($6000), less than $1,000, and $5,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

#### Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89752 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47018) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31221 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(687610) | &nbsp;&nbsp;&nbsp;&nbsp;(207270) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(635942) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86297) |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;(120844) | &nbsp;&nbsp;&nbsp;&nbsp;(139591) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;515314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843843 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;120844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139591 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(778104) | &nbsp;&nbsp;&nbsp;&nbsp;(752865) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;(141946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230569 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;(898732) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4681 |
| **Net Assets** |  |  |
| **Beginning of Period** | **4871228** | &nbsp;&nbsp;&nbsp;**4866547** |
| **End of Period** | **3972496** | &nbsp;&nbsp;&nbsp;**4871228** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Bond Market Index Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$12.22** | &nbsp;&nbsp;&nbsp;**$12.81** | &nbsp;&nbsp;&nbsp;**$12.21** | &nbsp;&nbsp;&nbsp;**$11.54** | &nbsp;&nbsp;&nbsp;**$11.86** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.313 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.844) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.454) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.343) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.594) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.226) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.030) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.226) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.260) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.267) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.104) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.023) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.364) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.311) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.290) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$10.32** | &nbsp;&nbsp;&nbsp;**$12.22** | &nbsp;&nbsp;&nbsp;**$12.81** | &nbsp;&nbsp;&nbsp;**$12.21** | &nbsp;&nbsp;&nbsp;**$11.54** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-13.21%** | &nbsp;&nbsp;&nbsp;**-1.72%** | &nbsp;&nbsp;&nbsp;**7.58%** | &nbsp;&nbsp;&nbsp;**8.67%** | &nbsp;&nbsp;&nbsp;**-0.21%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$3972 | &nbsp;&nbsp;&nbsp;$4871 | &nbsp;&nbsp;&nbsp;$4867 | &nbsp;&nbsp;&nbsp;$4300 | &nbsp;&nbsp;&nbsp;$3535 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;0.14%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;2.30% | &nbsp;&nbsp;&nbsp;1.85% | &nbsp;&nbsp;&nbsp;2.20% | &nbsp;&nbsp;&nbsp;2.72% | &nbsp;&nbsp;&nbsp;2.74% |
| Portfolio Turnover Rate<sup>3</sup> | &nbsp;&nbsp;&nbsp;42% | &nbsp;&nbsp;&nbsp;69% | &nbsp;&nbsp;&nbsp;94% | &nbsp;&nbsp;&nbsp;80% | &nbsp;&nbsp;&nbsp;89% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.14%. |
| 3 | Includes 12%, 33%, 28%, 19%, and 26%, respectively, attributable to mortgage-dollar-roll activity. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Bond Market Index Portfolio

Notes to Financial Statements

The Total Bond Market Index Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Certain of the portfolio's investments are in corporate debt instruments; the issuers' abilities to meet their obligations may be affected by economic developments in their respective industries.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial
statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Structured debt securities, including mortgages and asset-backed securities, are valued using the latest bid prices or using valuations based on a matrix system that considers such factors as issuer, tranche, nominal or option-adjusted spreads, weighted average coupon, weighted average maturity, credit enhancements, and collateral, as furnished by independent pricing services.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

2. To Be Announced (TBA) Transactions: A TBA transaction is an agreement to buy or sell mortgage-backed securities with agreed-upon characteristics (face amount, coupon, maturity) for settlement at a future date. The portfolio may be a seller of TBA transactions to reduce its exposure to the mortgage-backed securities market or in order to sell mortgage-backed securities it owns under delayed-delivery arrangements. When the portfolio is a buyer of TBA transactions, it maintains cash or short-term investments in an amount sufficient to meet the purchase price at the settlement date of the TBA transaction. The primary risk associated with TBA transactions is that a counterparty may default on its obligations. The portfolio mitigates its counterparty risk by, among other things, performing a credit analysis of counterparties, allocating transactions among numerous counterparties, and monitoring its exposure to each counterparty. The portfolio may also enter into a Master Securities Forward Transaction Agreement (MSFTA) with certain counterparties and require them to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the portfolio cannot be repledged, resold, or rehypothecated. Under an MSFTA, upon a counterparty default (including bankruptcy), the portfolio may terminate any TBA transactions with that counterparty, determine the net amount owed by either party in accordance with its MSFTA, and sell or retain any collateral held up to the net amount owed to the portfolio under the MSFTA.

3. Mortgage Dollar Rolls: The portfolio enters into mortgage-dollar-roll transactions, in which the portfolio sells mortgage-backed securities to a dealer and simultaneously agrees to purchase similar securities in the future at a predetermined price. The proceeds of the securities sold in mortgage-dollar-roll transactions are typically invested in high-quality short-term fixed income securities. The portfolio forgoes principal and interest paid on the securities sold, and is compensated by interest earned on the proceeds of the sale and by a lower price on the securities to be repurchased. The portfolio also enters into mortgage-dollar-roll transactions in which the portfolio buys mortgage-backed securities from a dealer pursuant to a TBA transaction and simultaneously agrees to sell similar securities in the future at a predetermined price. The securities bought in mortgage-dollar-roll transactions are used to cover an open TBA sell position. The portfolio continues to earn interest on mortgage-backed security pools already held and receives a lower price on the securities to be sold in the future. The portfolio accounts for mortgage-dollar-roll transactions as purchases and sales; as such, these transactions may increase the portfolio's portfolio turnover rate. Amounts to be received or paid in connection with open mortgage dollar rolls are included in Receivables for Investment Securities Sold or Payables for Investment Securities Purchased in the Statement of Assets and Liabilities.

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Total Bond Market Index Portfolio

4. Futures Contracts: The portfolio uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 0% and less than 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

The portfolio had no open futures contracts at December 31, 2022.

5. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

6. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

7. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

8. Other: Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on

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Total Bond Market Index Portfolio

certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

**B.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative,
marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of
trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $145,000, representing less than 0.01% of the portfolio's net assets and 0.06% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

**C.** The portfolio's custodian bank has agreed to reduce its fees when the portfolio maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset
arrangements reduced the portfolio's expenses by $1,000 (an annual rate of less than 0.01% of average net assets).

**D.** Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs
or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

The following table summarizes the market value of the portfolio's investments as of December 31, 2022, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| U.S. Government and Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2608402 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2608402 |
| Asset-Backed/Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103699 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103699 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1072443 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1072443 |
| Sovereign Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135482 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135482 |
| Taxable Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27104 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27104 |
| Temporary Cash Investments | 18262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18262 |
| Total | 18262 | &nbsp;&nbsp;&nbsp;3947130 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3965392 |

---

**E.** Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications
have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; and the treatment of amortization adjustments from certain fixed income securities. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94490 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;(46022) |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(553063) |

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Total Bond Market Index Portfolio

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;&nbsp;89181 | &nbsp;&nbsp;&nbsp;&nbsp;113757 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;31663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25834 |
| Total | &nbsp;&nbsp;&nbsp;120844 | &nbsp;&nbsp;&nbsp;&nbsp;139591 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;4518455 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6532 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(559595) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(553063) |

---

**F.** During the year ended December 31, 2022, the portfolio purchased $181,452,000 of investment securities and sold $265,909,000 of investment securities, other than U.S. government securities and temporary cash
investments. Purchases and sales of U.S. government securities were $1,617,244,000 and $1,690,770,000, respectively.

The portfolio purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $6,579,000 and sales were $14,779,000, resulting in net realized loss of $732,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

**G.** Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
|  | 2022<br> Shares<br> (000) | &nbsp;&nbsp;2021<br> Shares<br> (000) |
| Issued | &nbsp;&nbsp;&nbsp;47186 | &nbsp;&nbsp;&nbsp;&nbsp;68447 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;10897 | &nbsp;&nbsp;&nbsp;&nbsp;11623 |
| Redeemed | (71707) | &nbsp;&nbsp;(61220) |
| Net Increase (Decrease) in Shares Outstanding | (13624) | &nbsp;&nbsp;&nbsp;&nbsp;18850 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 30% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

**H.** Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Total Bond Market Index Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Total Bond Market Index Portfolio (one of the portfolios constituting Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022 the related statement of operations for the year ended December 31, 2022, the statement of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP <br> Philadelphia, Pennsylvania<br> February 16, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds since 1975.

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#### Tax information (unaudited)
The portfolio hereby designates $32,428,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $31,663,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

The portfolio hereby designates 100%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income dividends eligible to be treated as interest income for purposes of Section 163(j) and the regulations thereunder for the fiscal year.

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"Bloomberg®" and Bloomberg U.S. Aggregate Float Adjusted Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg), and have been licensed for use for certain purposes by The Vanguard Group, Inc. (Vanguard).

The Total Bond Market Index Portfolio is not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Total Bond Market Index Portfolio or any member of the public regarding the advisability of investing in securities generally or in the Total Bond Market Index Portfolio particularly. The only relationship of Bloomberg to Vanguard is the licensing of certain trademarks, trade names and service marks and of the Bloomberg U.S. Aggregate Float Adjusted Index, which is determined, composed and calculated by BISL without regard to Vanguard or the Total Bond Market Index Portfolio. Bloomberg has no obligation to take the needs of Vanguard or the owners of the Total Bond Market Index Portfolio into consideration in determining, composing or calculating the Bloomberg U.S. Aggregate Float Adjusted Index. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Total Bond Market Index Portfolio to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Total Bond Market Index Portfolio customers, in connection with the administration, marketing or trading of the Total Bond Market Index Portfolio.

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE TOTAL BOND MARKET INDEX PORTFOLIO OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE TOTAL BOND MARKET INDEX PORTFOLIO OR BLOOMBERG U.S. AGGREGATE FLOAT ADJUSTED INDEX OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.© 2023 Bloomberg.

Used with Permission. Source: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

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

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer (November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services (2017–2019) at Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. Mclsaac** | **Lauren Valente** |

---

------

![](tm231735d7totlbndmrkti005.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

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#### Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690TBM 022023

------

![](tm231735d7totintstkmrkidi001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Total International Stock Market Index Portfolio

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Total International Stock Market Index Portfolio returned
 –16.01%, tracking the –16.10% return of its benchmark, the FTSE Global All Cap ex US Index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's
invasion of Ukraine. That prompted aggressive tightening by many central banks to bring inflation in check, which increased fears of recession.

• As a fund of funds, the portfolio seeks to track its target benchmark by investing in underlying funds that offer broad coverage of developed and emerging markets outside the U.S.

• Despite a robust resurgence in the final months of 2022, most of the underlying funds posted double-digit declines for the full year, with the steepest downturn posted by Vanguard FTSE All-World ex-US
Small-Cap Index Fund.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. The Total International Stock Market Index Portfolio has no direct expenses, but bears its proportionate share of the costs for the underlying funds in which it invests. These indirect expenses make up the acquired fund fees and expenses, also expressed as a percentage of average net assets. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The costs were calculated using the acquired fund fees and expenses for the Total International Stock Market Index Portfolio.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Total International Stock Market Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1026.40 | &nbsp;&nbsp;&nbsp;&nbsp;$0.56 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.56 |

---

The calculations are based on acquired fund fees and expenses for the most recent six-month period. The underlying portfolios' annualized expense figure for that period is 0.11%. The dollar amounts shown as "Expenses Paid" are equal to the annualized average weighted expense ratio for the underlying funds multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Total International Stock Market Index Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: September 7, 2017, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7totintstkmrkidi002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Since<br> Inception<br> (9/7/2017) | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7totintstkmrkidi003.jpg) | &nbsp;&nbsp;&nbsp;Total International Stock Market Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-16.01% | &nbsp;&nbsp;&nbsp;&nbsp;1.01% | &nbsp;&nbsp;&nbsp;&nbsp;2.02% | &nbsp;&nbsp;&nbsp;&nbsp;$11122 |
| ![](tm231735d7totintstkmrkidi004.jpg) | &nbsp;&nbsp;&nbsp;FTSE Global All Cap ex US Index | &nbsp;&nbsp;&nbsp;&nbsp;-16.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;2.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11234 |

---

"Since Inception" performance is calculated from the portfolio's inception date for both the portfolio and its comparative standard(s).

See Financial Highlights for dividend and capital gains information.

------

Total International Stock Market Index Portfolio

Underlying Vanguard Funds

As of December 31, 2022

---

| | |
|:---|:---|
| Vanguard Developed Markets Index Fund Admiral Shares | 28.1% |
| Vanguard FTSE All-World ex-US Index Fund Admiral Shares | 28.0 |
| Vanguard Emerging Markets Stock Index Fund Admiral Shares | &nbsp;&nbsp;17.6 |
| Vanguard European Stock Index Fund Admiral Shares | 12.5 |
| Vanguard Pacific Stock Index Fund Admiral Shares | &nbsp;&nbsp;&nbsp;8.5 |
| Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares | &nbsp;&nbsp;&nbsp;3.1 |
| Vanguard FTSE Canada All Cap Index ETF | &nbsp;&nbsp;&nbsp;2.2 |

---

The table reflects the portfolio's investments, except for short-term investments.

------

Total International Stock Market Index Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Investment Companies (100.1%)** | **Investment Companies (100.1%)** | **Investment Companies (100.1%)** | **Investment Companies (100.1%)** |
| **International Stock Funds (100.1%)** | **International Stock Funds (100.1%)** | **International Stock Funds (100.1%)** | **International Stock Funds (100.1%)** |
|  | &nbsp;&nbsp;&nbsp;Vanguard Developed Markets Index Fund Admiral Shares | &nbsp;&nbsp;25147541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339995 |
|  | &nbsp;&nbsp;&nbsp;Vanguard FTSE All-World ex-US Index Fund Admiral Shares | &nbsp;&nbsp;10851493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339001 |
|  | &nbsp;&nbsp;&nbsp;Vanguard Emerging Markets Stock Index Fund Admiral Shares | 6550928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212315 |
|  | &nbsp;&nbsp;&nbsp;Vanguard European Stock Index Fund Admiral Shares | &nbsp;&nbsp; 2178734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151357 |
|  | &nbsp;&nbsp;&nbsp;Vanguard Pacific Stock Index Fund Admiral Shares | &nbsp;&nbsp; 1295511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103382 |
|  | &nbsp;&nbsp;&nbsp;Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares | 1482446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37728 |
|  | &nbsp;&nbsp;&nbsp;Vanguard FTSE Canada All Cap Index ETF | &nbsp;&nbsp; 918885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26548 |
| **Total Investment Companies (Cost $1,333,342)** | **Total Investment Companies (Cost $1,333,342)** | **Total Investment Companies (Cost $1,333,342)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1210326** |
| **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** |
| **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% **(Cost $648)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6478 | **648** |
| **Total Investments (100.1%) (Cost $1,333,990)** | **Total Investments (100.1%) (Cost $1,333,990)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1210974** |
| **Other Assets and Liabilities—Net (-0.1%)** | **Other Assets and Liabilities—Net (-0.1%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1718)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1209256** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total International Stock Market Index Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value—Affiliated Funds (Cost $1,333,990) | &nbsp;&nbsp;1210974 |
| Foreign Currency, at Value (Cost $8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225 |
| **Total Assets** | **1212384** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2472 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3128** |
| **Net Assets** | **1209256** |
| <br> **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | 1291404 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;(82148) |
| **Net Assets** | **1209256** |
| **Net Assets** |  |
| **Applicable to 63,489,308 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **1209256** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$19.05** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total International Stock Market Index Portfolio

Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Income Distributions Received from Affiliated Funds<sup>1</sup> | &nbsp;&nbsp;&nbsp;36124 |
| **Net Investment Income—Note B** | &nbsp;&nbsp;&nbsp;**36124** |
| **Realized Net Gain (Loss)** |  |
| Capital Gain Distributions Received from Affiliated Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated Funds Sold | &nbsp;&nbsp;&nbsp;12307 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;**12325** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Affiliated Funds | (241673) |
| Foreign Currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| **Change in Unrealized Appreciation (Depreciation)** | **(241674)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(193225)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $151,000. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total International Stock Market Index Portfolio

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31281 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37266 |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(241674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10842 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;(193225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79389 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(72843) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26959) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;499136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342779 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26959 |
| Redeemed | &nbsp;&nbsp;&nbsp;(223049) | &nbsp;&nbsp;&nbsp;&nbsp;(194651) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;348930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175087 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227517 |
| **Net Assets** |  |  |
| **Beginning of Period** | **1126394** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**898877** |
| **End of Period** | **1209256** | &nbsp;&nbsp;&nbsp;**1126394** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total International Stock Market Index Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$24.23** | &nbsp;&nbsp;&nbsp;**$22.98** | &nbsp;&nbsp;&nbsp;**$21.38** | &nbsp;&nbsp;&nbsp;**$17.94** | &nbsp;&nbsp;&nbsp;**$21.15** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.646 |
| Capital Gain Distributions Received<sup>1</sup> | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.716) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.729) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.070) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.415) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.383) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.127) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.742) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.220) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.002) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.013) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.451) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.682) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.532) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.140) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$19.05** | &nbsp;&nbsp;&nbsp;**$24.23** | &nbsp;&nbsp;&nbsp;**$22.98** | &nbsp;&nbsp;&nbsp;**$21.38** | &nbsp;&nbsp;&nbsp;**$17.94** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-16.01%** | &nbsp;&nbsp;&nbsp;**8.53%** | &nbsp;&nbsp;&nbsp;**11.18%** | &nbsp;&nbsp;&nbsp;**21.55%** | &nbsp;&nbsp;&nbsp;**-14.62%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$1209 | &nbsp;&nbsp;&nbsp;$1126 | &nbsp;&nbsp;&nbsp;$899 | &nbsp;&nbsp;&nbsp;$402 | &nbsp;&nbsp;&nbsp;$200 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Acquired Fund Fees and Expenses | &nbsp;&nbsp;&nbsp;0.11% | &nbsp;&nbsp;&nbsp;0.10% | &nbsp;&nbsp;&nbsp;0.10% | &nbsp;&nbsp;&nbsp;0.11% | &nbsp;&nbsp;&nbsp;0.11% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;3.16% | &nbsp;&nbsp;&nbsp;3.03% | &nbsp;&nbsp;&nbsp;2.50% | &nbsp;&nbsp;&nbsp;3.50% | &nbsp;&nbsp;&nbsp;3.23% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;15% | &nbsp;&nbsp;&nbsp;12% | &nbsp;&nbsp;&nbsp;22% | &nbsp;&nbsp;&nbsp;15% | &nbsp;&nbsp;&nbsp;6% |

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1 Calculated based on average shares outstanding.

See accompanying Notes, which are an integral part of the Financial Statements.

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Total International Stock Market Index Portfolio

Notes to Financial Statements

The Total International Stock Market Index Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio seeks to match the return of its target index by investing in selected Vanguard funds and portfolios. Financial statements and other information about each underlying fund and portfolio are available at www.vanguard.com. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial statements.

1. Security Valuation: Investments are valued at the net asset value of each underlying Vanguard fund determined as of the close of the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value. Underlying ETFs are valued at the latest quoted sales prices or official closing prices taken from their primary market or, if not traded on the valuation date, at the mean of the latest quoted bid and asked prices.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the portfolio's pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. Futures Contracts: The portfolio uses stock and bond futures contracts to a limited extent, with the objectives of maintaining full exposure to the market and maintaining its target asset allocation. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of investments held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented less than 1% of net assets, based on the average of the notional amounts at each quarter-end during the period. The portfolio had no open futures contracts at December 31, 2022.

4. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

5. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

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Total International Stock Market Index Portfolio

6. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and borne by the funds in which the portfolio invests (see Note B). Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Income and capital gain distributions received are recorded on the ex-dividend date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily.

B. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of trustees. The FSA provides that expenses otherwise allocable to Vanguard funds-of-funds may be reduced or eliminated to the extent of savings realized by the underlying Vanguard funds by virtue of being part of a fund-of-funds. Accordingly, all expenses for services provided by Vanguard to the portfolio and all other expenses incurred by the portfolio during the period ended December 31, 2022, were borne by the underlying Vanguard funds in which the portfolio invests. The portfolio's trustees and officers are also trustees and officers, respectively, of the underlying Vanguard funds, as well as directors and employees, respectively, of Vanguard.

C. Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments was determined based on Level 1 inputs.

D. Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable foreign currency transactions were reclassified between the individual components of total distributable earnings (loss).

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Total International Stock Market Index Portfolio

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; and the recognition of unrealized gains from passive foreign investment companies. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;33085 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;12438 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;(127671) |

---

The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;55448 | &nbsp;&nbsp;&nbsp;&nbsp;26702 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;17395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 |
| Total | &nbsp;&nbsp;&nbsp;72843 | &nbsp;&nbsp;&nbsp;&nbsp;26959 |

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\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;1338645 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3862 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(131533) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(127671) |

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E. Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022 | &nbsp;&nbsp;2021 |
|  | Shares<br> (000) | &nbsp;&nbsp;Shares<br> (000) |
| Issued | 24649 | &nbsp;&nbsp;14261 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;3425 | &nbsp;&nbsp;&nbsp;&nbsp;1157 |
| Redeemed | (11071) | &nbsp;&nbsp;(8044) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;17003 | &nbsp;&nbsp;&nbsp;&nbsp;7374 |

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Total International Stock Market Index Portfolio

F. Transactions during the period in affiliated underlying Vanguard funds were as follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions |  |
|  | Dec. 31, 2021<br> Market Value<br> ($000) | Purchases<br> at Cost<br> ($000) | Proceeds<br> from<br> Securities<br> Sold<br> ($000) | Realized<br> Net Gain<br> (Loss)<br> ($000) | Change in<br> Unrealized<br> App. (Dep.)<br> ($000) | Income<br> ($000) | Capital Gain<br> Distributions<br> Received<br> ($000) | Dec. 31, 2022<br> Market Value<br> ($000) |
| Vanguard Developed Markets Index Fund | &nbsp;&nbsp;&nbsp;316551 | &nbsp;&nbsp;127468 | &nbsp;&nbsp;43077 | &nbsp;&nbsp;&nbsp;2859 | &nbsp;&nbsp;&nbsp;(63806) | &nbsp;&nbsp;&nbsp;9345 |  | &nbsp;&nbsp;&nbsp;339995 |
| Vanguard Emerging Markets Stock Index Fund | &nbsp;&nbsp;&nbsp;192843 | &nbsp;&nbsp;110838 | &nbsp;&nbsp;45815 | &nbsp;&nbsp;&nbsp;3053 | &nbsp;&nbsp;&nbsp;(48604) | &nbsp;&nbsp;&nbsp;8013 |  | &nbsp;&nbsp;&nbsp;&nbsp;212315 |
| Vanguard European Stock Index Fund | &nbsp;&nbsp;&nbsp;147662 | &nbsp;&nbsp;&nbsp;64614 | &nbsp;&nbsp;31850 | &nbsp;&nbsp;&nbsp;1734 | &nbsp;&nbsp;&nbsp;(30803) | &nbsp;&nbsp;&nbsp;4570 |  | &nbsp;&nbsp;&nbsp;151357 |
| Vanguard FTSE All-World ex-US Index Fund | &nbsp;&nbsp;&nbsp;316306 | &nbsp;&nbsp;114635 | &nbsp;&nbsp;29869 | &nbsp;&nbsp;&nbsp;3931 | &nbsp;&nbsp;&nbsp;(66002) | &nbsp;&nbsp;&nbsp;9883 |  | &nbsp;&nbsp;&nbsp;339001 |
| Vanguard FTSE All-World ex-US Small-Cap Index Fund | &nbsp;&nbsp;&nbsp;&nbsp;36306 | &nbsp;&nbsp;&nbsp;14042 | &nbsp;&nbsp;&nbsp;&nbsp;3607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;(9307) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37728 |
| Vanguard FTSE Canada All Cap Index ETF | &nbsp;&nbsp;&nbsp;&nbsp;18545 | &nbsp;&nbsp;&nbsp;12268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(4265) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788 |  | &nbsp;&nbsp;&nbsp;&nbsp;26548 |
| Vanguard Market Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648 |
| Vanguard Pacific Stock Index Fund | &nbsp;&nbsp;&nbsp;&nbsp;97957 | &nbsp;&nbsp;&nbsp;&nbsp;37127 | &nbsp;&nbsp;13252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 | &nbsp;&nbsp;&nbsp;(18886) | &nbsp;&nbsp;&nbsp;2702 |  | &nbsp;&nbsp;&nbsp;&nbsp;103382 |
| Total | 1127371 | 480992 | 167470 | 12307 | (241673) | 36124 |  | 1210974 |

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1 Not applicable—purchases and sales are for temporary cash investment purposes.

G. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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#### Report of Independent Registered

#### Public Accounting Firm
To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Total International ‎Stock Market Index Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of ‎investments, of Total International Stock Market Index Portfolio (one of the portfolios constituting ‎Vanguard Variable Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the ‎related statement of operations for the year ended December 31, 2022, the statement of changes in net ‎assets for each of the two years in the period ended December 31, 2022, including the related notes, ‎and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively ‎referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all ‎material respects, the financial position of the Portfolio as of December 31, 2022, the results of its ‎operations for the year then ended, the changes in its net assets for each of the two years in the period ‎ended December 31, 2022 and the financial highlights for each of the five years in the period ended ‎December 31, 2022 in conformity with accounting principles generally accepted in the United States of ‎America.‎

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to ‎express an opinion on the Portfolio's financial statements based on our audits. We are a public ‎accounting firm registered with the Public Company Accounting Oversight Board (United States) ‎‎(PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. ‎federal securities laws and the applicable rules and regulations of the Securities and Exchange ‎Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. ‎Those standards require that we plan and perform the audit to obtain reasonable assurance about whether ‎the financial statements are free of material misstatement, whether due to error or fraud. ‎

Our audits included performing procedures to assess the risks of material misstatement of the financial ‎statements, whether due to error or fraud, and performing procedures that respond to those risks. Such ‎procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the ‎financial statements. Our audits also included evaluating the accounting principles used and significant ‎estimates made by management, as well as evaluating the overall presentation of the financial ‎statements. Our procedures included confirmation of securities owned as of December 31, 2022 by ‎correspondence with the transfer agent. We believe that our audits provide a reasonable basis for our ‎opinion.‎

‎ /s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 15, 2023

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds ‎since 1975.

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Tax information (unaudited)

The portfolio hereby designates $37,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $17,395,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

The portfolio designates to shareholders foreign source income of $37,776,000 and foreign taxes paid of $2,778,000.

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London Stock Exchange Group companies include FTSE International Limited ("FTSE"), Frank Russell Company ("Russell"), MTS Next Limited ("MTS"), and FTSE TMX Global Debt Capital Markets Inc. ("FTSE TMX"). All rights reserved. "FTSE<sup>®</sup>", "Russell<sup>®</sup>", "MTS<sup>®</sup>", "FTSE TMX<sup>®</sup>" and "FTSE Russell" and other service marks and trademarks related to the FTSE or Russell indexes are trademarks of the London Stock Exchange Group companies and are used by FTSE, MTS, FTSE TMX and Russell under license. All information is provided for information purposes only. Every effort is made to ensure that all information given in this publication is accurate, but no responsibility or liability can be accepted by the London Stock Exchange Group companies nor its licensors for any errors or for any loss from use of this publication. Neither the London Stock Exchange Group companies nor any of their licensors make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the Indices or the fitness or suitability of the Indices for any particular purpose to which they might be put. The London Stock Exchange Group companies do not provide investment advice and nothing in this document should be taken as constituting financial or investment advice. The London Stock Exchange Group companies make no representation regarding the advisability of investing in any asset. A decision to invest in any such asset should not be made in reliance on any information herein. Indexes cannot be invested in directly. Inclusion of an asset in an index is not a recommendation to buy, sell or hold that asset. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional. No part of this information may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the London Stock Exchange Group companies. Distribution of the London Stock Exchange Group companies' index values and the use of their indexes to create financial products require a license with FTSE, FTSE TMX, MTS and/or Russell and/or its licensors.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of

IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services

(2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. McIsaac** | **Lauren Valente** |

---

------

![](tm231735d7totintstkmrkidi005.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People<br> Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your portfolio on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690TISM 022023

------

![](tm231735d7totlstkmrktidxi001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Total Stock Market Index Portfolio<br> (with underlying Equity Index Portfolio)

------

*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

------

Your Portfolio's Performance at a Glance

• For the 12 months ended December 31, 2022, the Total Stock Market Index Portfolio returned –19.59%, in line with the –19.53% return of its composite index after factoring in the portfolio's
expenses.

• The portfolio, which invests in Vanguard Variable Insurance Funds Equity Index Portfolio and Vanguard Extended Market Index Fund, provides exposure to every segment, size, and style of the U.S. equity market.

• The period was a volatile, challenging one for financial markets. Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as
higher energy and food prices in the wake of Russia's invasion of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.

• For the decade ended December 31, 2022, the portfolio recorded an average annual return of 11.92%, in line with its benchmark average of 12.03%.

• Please note that the portfolio's returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

------

About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. The Total Stock Market Index Portfolio has no direct expenses, but bears its proportionate share of the costs for the underlying funds in which it invests. These indirect expenses make up the acquired fund fees and expenses, also expressed as a percentage of average net assets. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The costs were calculated using the acquired fund fees and expenses for the Total Stock Market Index Portfolio.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Total Stock Market Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1022.70 | &nbsp;&nbsp;&nbsp;&nbsp;$0.66 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.66 |

---

The calculations are based on acquired fund fees and expenses for the most recent six-month period. The underlying portfolios' annualized expense figure for that period is 0.13%. The dollar amounts shown as "Expenses Paid" are equal to the annualized average weighted expense ratio for the underlying funds multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Total Stock Market Index Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7totlstkmrktidxi002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7totlstkmrktidxi003.jpg) | &nbsp;&nbsp;&nbsp;Total Stock Market Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-19.59% | &nbsp;&nbsp;&nbsp;&nbsp;8.55% | &nbsp;&nbsp;&nbsp;&nbsp;11.92% | &nbsp;&nbsp;&nbsp;&nbsp;$30831 |
| ![](tm231735d7totlstkmrktidxi004.jpg) | &nbsp;&nbsp;&nbsp;S&P Total Market Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

See Financial Highlights for dividend and capital gains information.

------

Total Stock Market Index Portfolio

Underlying Vanguard Funds

As of December 31, 2022

---

| | |
|:---|:---|
| Vanguard Variable Insurance Funds—Equity Index Portfolio | 84.7% |
| Vanguard Extended Market Index Fund Admiral Shares | 15.3 |

---

The table reflects the portfolio's investments, except for short-term investments.

------

Total Stock Market Index Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Investment Companies (100.0%)** | **Investment Companies (100.0%)** | **Investment Companies (100.0%)** | **Investment Companies (100.0%)** |
| **U.S. Stock Funds (100.0%)** | **U.S. Stock Funds (100.0%)** | **U.S. Stock Funds (100.0%)** | **U.S. Stock Funds (100.0%)** |
|  | &nbsp;&nbsp;&nbsp;Vanguard Variable Insurance Funds—Equity Index Portfolio | &nbsp;&nbsp;60363104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3062824 |
|  | &nbsp;&nbsp;&nbsp;Vanguard Extended Market Index Fund Admiral Shares | &nbsp;&nbsp; 5467630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 551411 |
| **Total Investment Companies (Cost $3,031,058)** | **Total Investment Companies (Cost $3,031,058)** | **Total Investment Companies (Cost $3,031,058)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3614235** |
| **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** | **Temporary Cash Investments (0.0%)** |
| **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** | **Money Market Fund (0.0%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334% **(Cost $344)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440 | **344** |
| **Total Investments (100.0%) (Cost $3,031,402)** | **Total Investments (100.0%) (Cost $3,031,402)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3614579** |
| **Other Assets and Liabilities—Net (0.0%)** | **Other Assets and Liabilities—Net (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1069)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3613510** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Stock Market Index Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value—Affiliated Funds (Cost $3,031,402) | &nbsp;&nbsp;3614579 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380 |
| **Total Assets** | **3615960** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2106 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2450** |
| **Net Assets** | &nbsp;&nbsp;**3613510** |
| <br> **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | 2753427 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;860083 |
| **Net Assets** | &nbsp;&nbsp;**3613510** |
| **Net Assets** |  |
| **Applicable to 85,434,281 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**3613510** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$42.30** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Stock Market Index Portfolio

Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Income Distributions Received from Affiliated Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47569 |
| **Net Investment Income—Note B** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**47569** |
| **Realized Net Gain (Loss)** |  |
| Capital Gain Distributions Received from Affiliated Funds | &nbsp;&nbsp;&nbsp;&nbsp;138071 |
| Affiliated Funds Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93719 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(150) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**231640** |
| **Change in Unrealized Appreciation (Depreciation) from Affiliated Funds** | **(1120049)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;**(840840)** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Stock Market Index Portfolio

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47571 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;231640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263827 |
| Change in Unrealized Appreciation (Depreciation) | (1120049) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564584 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;(840840) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875982 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(311453) | &nbsp;&nbsp;&nbsp;&nbsp;(244651) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;653617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443889 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;311453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244651 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(453339) | &nbsp;&nbsp;&nbsp;&nbsp;(528140) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;511731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160400 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;(640562) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791731 |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**4254072** | &nbsp;&nbsp;&nbsp;**3462341** |
| **End of Period** | &nbsp;&nbsp;**3613510** | &nbsp;&nbsp;&nbsp;**4254072** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Stock Market Index Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$56.94** | &nbsp;&nbsp;&nbsp;**$48.56** | &nbsp;&nbsp;&nbsp;**$42.81** | &nbsp;&nbsp;&nbsp;**$34.26** | &nbsp;&nbsp;&nbsp;**$38.26** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.603 |
| Capital Gain Distributions Received<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.494 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;(12.797) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.964) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;(10.506) | &nbsp;&nbsp;&nbsp;&nbsp;11.828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.716 | &nbsp;&nbsp;&nbsp;&nbsp;10.275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.867) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.650) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.652) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.671) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.618) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.600) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.484) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.796) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.295) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.107) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.533) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4.134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.448) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.966) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.725) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.133) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$42.30** | &nbsp;&nbsp;&nbsp;**$56.94** | &nbsp;&nbsp;&nbsp;**$48.56** | &nbsp;&nbsp;&nbsp;**$42.81** | &nbsp;&nbsp;&nbsp;**$34.26** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-19.59%** | &nbsp;&nbsp;&nbsp;**25.64%** | &nbsp;&nbsp;&nbsp;**20.55%** | &nbsp;&nbsp;&nbsp;**30.75%** | &nbsp;&nbsp;&nbsp;**-5.34%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$3614 | &nbsp;&nbsp;&nbsp;$4254 | &nbsp;&nbsp;&nbsp;$3462 | &nbsp;&nbsp;&nbsp;$2757 | &nbsp;&nbsp;&nbsp;$2047 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Acquired Fund Fees and Expenses | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;0.13% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.28% | &nbsp;&nbsp;&nbsp;1.22% | &nbsp;&nbsp;&nbsp;1.66% | &nbsp;&nbsp;&nbsp;1.79% | &nbsp;&nbsp;&nbsp;1.59% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;6% | &nbsp;&nbsp;&nbsp;7% | &nbsp;&nbsp;&nbsp;13% | &nbsp;&nbsp;&nbsp;4% | &nbsp;&nbsp;&nbsp;5% |

---

1 Calculated based on average shares outstanding.

See accompanying Notes, which are an integral part of the Financial Statements.

------

Total Stock Market Index Portfolio

Notes to Financial Statements

The Total Stock Market Index Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio seeks to match the return of its target index by investing in selected Vanguard funds and portfolios. The portfolio invests a substantial amount of its assets in VVIF Equity Index Portfolio. The accompanying financial statements of VVIF Equity Index Portfolio should be read in conjunction with the financial statements of the portfolio. Financial statements and other information about each underlying fund and portfolio are available at www.vanguard.com. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial statements.

1. Security Valuation: Investments are valued at the net asset value of each underlying Vanguard fund determined as of the close of the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date.

2. Futures Contracts: The portfolio uses stock and bond futures contracts to a limited extent, with the objectives of maintaining full exposure to the market and maintaining its target asset allocation. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of investments held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period. The portfolio had no open futures contracts at December 31, 2022.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and borne by the funds in

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Total Stock Market Index Portfolio

which the portfolio invests (see Note B). Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

6. Other: Income and capital gain distributions received are recorded on the ex-dividend date.

Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of trustees. The FSA provides that expenses otherwise allocable to Vanguard funds-of-funds may be reduced or eliminated to the extent of savings realized by the underlying Vanguard funds by virtue of being part of a fund-of-funds. Accordingly, all expenses for services provided by Vanguard to the portfolio and all other expenses incurred by the portfolio during the period ended December 31, 2022, were borne by the underlying Vanguard funds in which the portfolio invests. The portfolio's trustees and officers are also trustees and officers, respectively, of the underlying Vanguard funds, as well as directors and employees, respectively, of Vanguard.

C. Various inputs may be used to determine the value of the portfolio's investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments was determined based on Level 1 inputs.

D. Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The

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Total Stock Market Index Portfolio

differences are primarily related to the deferral of losses from wash sales. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;48115 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;228791 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;583177 |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;&nbsp;48973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47699 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;262480 | &nbsp;&nbsp;&nbsp;&nbsp;196952 |
| Total | &nbsp;&nbsp;&nbsp;311453 | &nbsp;&nbsp;&nbsp;&nbsp;244651 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;3031402 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690377 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107200) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583177 |

---

E. Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022 | &nbsp;&nbsp;2021 |
|  | Shares<br> (000) | &nbsp;&nbsp;Shares<br> (000) |
| Issued | 14371 | &nbsp;&nbsp;&nbsp;&nbsp;8502 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;6207 | &nbsp;&nbsp;&nbsp;&nbsp;5072 |
| Redeemed | (9860) | &nbsp;&nbsp;(10157) |
| Net Increase (Decrease) in Shares Outstanding | 10718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3417 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 40% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might lead to the realization of taxable capital gains.

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Total Stock Market Index Portfolio

F. Transactions during the period in affiliated underlying Vanguard funds were as follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions |  |
|  | Dec. 31, 2021<br> Market Value<br> ($000) | Purchases<br> at Cost<br> ($000) | Proceeds<br> from<br> Securities<br> Sold<br> ($000) | Realized<br> Net Gain<br> (Loss)<br> ($000) | Change in<br> Unrealized<br> App. (Dep.)<br> ($000) | Income<br> ($000) | Capital Gain<br> Distributions<br> Received<br> ($000) | Dec. 31, 2022<br> Market Value<br> ($000) |
| Vanguard Extended Market Index Fund | &nbsp;&nbsp;&nbsp;&nbsp;713714 | &nbsp;&nbsp;104216 | &nbsp;&nbsp;&nbsp;69581 | &nbsp;&nbsp;27841 | &nbsp;&nbsp;&nbsp;&nbsp;(224779) | &nbsp;&nbsp;&nbsp;&nbsp;6118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;551411 |
| Vanguard Market Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344 |
| Vanguard Variable Insurance Funds—Equity Index Portfolio | 3542234 | 488666 | 138684 | 65878 | &nbsp;&nbsp;&nbsp;&nbsp;(895270) | 41442 | 138071 | 3062824 |
| Total | 4255948 | 592882 | 208265 | 93719 | (1120049) | &nbsp;&nbsp;47569 | 138071 | 3614579 |

---

1 Not applicable—purchases and sales are for temporary cash investment purposes.

G. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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#### Report of Independent Registered

#### Public Accounting Firm
To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Total Stock Market ‎Index Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of ‎investments, of Total Stock Market Index Portfolio (one of the portfolios constituting Vanguard Variable ‎Insurance Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement ‎of operations for the year ended December 31, 2022, the statement of changes in net assets for each of ‎the two years in the period ended December 31, 2022, including the related notes, and the financial ‎highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as ‎the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, ‎the financial position of the Portfolio as of December 31, 2022, the results of its operations for the year ‎then ended, the changes in its net assets for each of the two years in the period ended December 31, ‎‎2022 and the financial highlights for each of the five years in the period ended December 31, 2022 in ‎conformity with accounting principles generally accepted in the United States of America. ‎

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to ‎express an opinion on the Portfolio's financial statements based on our audits. We are a public ‎accounting firm registered with the Public Company Accounting Oversight Board (United States) ‎‎(PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. ‎federal securities laws and the applicable rules and regulations of the Securities and Exchange ‎Commission and the PCAOB. ‎

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. ‎Those standards require that we plan and perform the audit to obtain reasonable assurance about whether ‎the financial statements are free of material misstatement, whether due to error or fraud. ‎

Our audits included performing procedures to assess the risks of material misstatement of the financial ‎statements, whether due to error or fraud, and performing procedures that respond to those risks. Such ‎procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the ‎financial statements. Our audits also included evaluating the accounting principles used and significant ‎estimates made by management, as well as evaluating the overall presentation of the financial ‎statements. Our procedures included confirmation of securities owned as of December 31, 2022 by ‎correspondence with the transfer agent. We believe that our audits provide a reasonable basis for our ‎opinion.‎

‎ /s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 15, 2023‎

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds ‎since 1975.

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Tax information (unaudited)

For corporate shareholders, 98.3%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $75,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $262,480,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

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The "S&P Total Market Index" (the "Index") is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by Vanguard. Standard & Poor's<sup>®</sup> and S&P<sup>®</sup> are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); S&P<sup>®</sup> and S&P 500<sup>®</sup> are trademarks of S&P; and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Vanguard. The Total Stock Market Index Portfolio is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the Total Stock Market Index Portfolio or any member of the public regarding the advisability of investing in securities generally or in the Total Stock Market Index Portfolio particularly or the ability of the S&P Total Market Index to track general market performance. S&P Dow Jones Indices' only relationship to Vanguard with respect to the S&P Total Market Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P Total Market Index is determined, composed and calculated by S&P Dow Jones Indices without regard to Vanguard or the Total Stock Market Index Portfolio. S&P Dow Jones Indices has no obligation to take the needs of Vanguard or the owners of the Total Stock Market Index Portfolio into consideration in determining, composing or calculating the S&P Total Market Index. S&P Dow Jones Indices is not responsible for and has not participated in the determination of the prices, and amount of the Total Stock Market Index Portfolio or the timing of the issuance or sale of the Total Stock Market Index Portfolio or in the determination or calculation of the equation by which the Total Stock Market Index Portfolio is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of the Total Stock Market Index Portfolio. There is no assurance that investment products based on the S&P Total Market Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P TOTAL MARKET INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF THE TOTAL STOCK MARKET INDEX PORTFOLIO, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P TOTAL MARKET INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND VANGUARD, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of

IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services

(2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

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| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. McIsaac** | **Lauren Valente** |

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Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People<br> Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your portfolio on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690TSMI 022023

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![](tm231735d7undereqindexi001.jpg)

#### Annual Report \| December 31, 2022

## Vanguard Variable Insurance Funds
Equity Index Portfolio

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*Contents*

---

| | |
|:---|:---|
| Your Portfolio's Performance at a Glance<br>| 1 |
| About Your Portfolio's Expenses<br>| 2 |
| Performance Summary<br>| 3 |
| Financial Statements<br>| 5 |

---

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your portfolio are spelled out in the prospectus.

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Your Portfolio's Performance at a Glance

• Despite some relief in midsummer and late fall, the 12 months ended December 31, 2022, were a volatile, challenging period for financial markets. The Equity Index Portfolio returned –18.23%, in line with the
 –18.11% return of its benchmark, the Standard & Poor's 500 Index.

• Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia's invasion
of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession.

• Value stocks held up better than their growth counterparts during the period. Among sectors in the benchmark index, steep declines in information technology and consumer discretionary stocks were partly offset by
robust gains in energy stocks.

• For the decade through 2022, the portfolio had an annualized total return of 12.40%, in line with its benchmark.

• Please note that the portfolio returns are different from those in Vanguard Variable Annuity (and other plans that invest in the portfolio), which take into account
insurance-related expenses.

*Market Barometer*

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| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Year | &nbsp;&nbsp;&nbsp;&nbsp;Three Years | &nbsp;&nbsp;&nbsp;&nbsp;Five Years |
| **Stocks** |  |  |  |
| Russell 1000 Index (Large-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.35% | &nbsp;&nbsp;&nbsp;&nbsp;9.13% |
| Russell 2000 Index (Small-caps) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 |
| Russell 3000 Index (Broad U.S. market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 |
| FTSE All-World ex US Index (International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-15.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| **Bonds** |  |  |  |
| Bloomberg U.S. Aggregate Float Adjusted Index<br> (Broad taxable market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-13.07% | &nbsp;&nbsp;&nbsp;&nbsp;-2.67% | &nbsp;&nbsp;&nbsp;&nbsp;0.06% |
| Bloomberg Municipal Bond Index<br> (Broad tax-exempt market) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-8.53 | &nbsp;&nbsp;&nbsp;&nbsp;-0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 |
| FTSE Three-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 |
| **CPI** |  |  |  |
| Consumer Price Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92% | &nbsp;&nbsp;&nbsp;&nbsp;3.78% |

---

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About Your Portfolio's Expenses

As a shareholder of the portfolio, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a portfolio's gross income, directly reduce the investment return of the portfolio.

A portfolio's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your portfolio and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your portfolio's costs in two ways:

**•** **Based on actual portfolio return. This section helps you to estimate the actual expenses that you paid over the period. The "Ending Account Value" shown is derived from the portfolio's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the portfolio. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.** 

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your portfolio under the heading "Expenses Paid During Period."

**•** **Based on hypothetical 5% yearly return. This section is intended to help you compare your portfolio's costs with those of other mutual funds. It assumes that the portfolio had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the portfolio's actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your portfolio's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.** 

Note that the expenses shown in the table are meant to highlight and help you compare *ongoing* costs only and do not reflect transaction costs incurred by the portfolio for buying and selling securities. The portfolio's expense ratio does not reflect additional fees and expenses associated with the annuity or life insurance program through which you invest.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the portfolio's expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your portfolio's current prospectus.

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended December 31, 2022** |  |  |  |
| Equity Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning<br> Account Value<br> 6/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Ending<br> Account Value<br> 12/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;Expenses<br> Paid During<br> Period |
| Based on Actual Portfolio Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1022.40 | &nbsp;&nbsp;&nbsp;&nbsp;$0.71 |
| Based on Hypothetical 5% Yearly Return | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 |

---

The calculations are based on expenses incurred in the most recent six-month period. The portfolio's annualized six-month expense ratio for that period is 0.14%. The dollar amounts shown as "Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (184/365).

------

Equity Index Portfolio

Performance Summary

**All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the portfolio. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor's shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on portfolio distributions or on the sale of portfolio shares. Nor do the returns reflect fees and expenses associated with the annuity or life insurance program through which a shareholder invests. If these fees and expenses were included, the portfolio's returns would be lower.**

#### Cumulative Performance: December 31, 2012, Through December 31, 2022
Initial Investment of $10,000

![](tm231735d7undereqindexi002.gif)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;Average Annual Total Returns<br> Periods Ended December 31, 2022 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;One<br> Year | &nbsp;&nbsp;&nbsp;&nbsp;Five<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Ten<br> Years | &nbsp;&nbsp;&nbsp;&nbsp;Final Value<br> of a $10,000<br> Investment |
| ![](tm231735d7undereqindexi003.jpg) | &nbsp;&nbsp;&nbsp;Equity Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;-18.23% | &nbsp;&nbsp;&nbsp;&nbsp;9.27% | &nbsp;&nbsp;&nbsp;&nbsp;12.40% | &nbsp;&nbsp;&nbsp;&nbsp;$32196 |
| ![](tm231735d7undereqindexi004.jpg) | &nbsp;&nbsp;&nbsp;S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32654 |
| ![](tm231735d7undereqindexi005.jpg) | &nbsp;&nbsp;&nbsp;Dow Jones U.S. Total Stock Market Float Adjusted Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.53 | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31151 |

---

See Financial Highlights for dividend and capital gains information.

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Equity Index Portfolio

Portfolio Allocation

As of December 31, 2022

---

| | |
|:---|:---|
| Communication Services | &nbsp;&nbsp;&nbsp;7.3% |
| Consumer Discretionary | &nbsp;&nbsp;&nbsp;9.8 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;7.2 |
| Energy | &nbsp;&nbsp;&nbsp;5.2 |
| Financials | &nbsp;&nbsp;11.7 |
| Health Care | 15.8 |
| Industrials | &nbsp;&nbsp;&nbsp;8.7 |
| Information Technology | 25.7 |
| Materials | &nbsp;&nbsp;&nbsp;2.7 |
| Real Estate | &nbsp;&nbsp;&nbsp;2.7 |
| Utilities | &nbsp;&nbsp;&nbsp;3.2 |

---

The table reflects the portfolio's investments, except for short-term investments and derivatives. Sector categories are based on the Global Industry Classification Standard ("GICS"), except for the "Other" category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

The portfolio may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking its target index as closely as possible.

The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard and Poor's, a division of McGraw-Hill Companies, Inc. ("S&P"), and is licensed for use by Vanguard. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classification makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of its affiliates or any third party involved in making or compiling the GICS or any GICS classification have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

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Equity Index Portfolio

Financial Statements

Schedule of Investments

As of December 31, 2022

The portfolio files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The portfolio's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| **Common Stocks (99.4%)** | **Common Stocks (99.4%)** | **Common Stocks (99.4%)** | **Common Stocks (99.4%)** |
| **Communication Services (7.2%)** | **Communication Services (7.2%)** | **Communication Services (7.2%)** | **Communication Services (7.2%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class A | 1403705 | &nbsp;&nbsp; 123849 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class C | 1243382 | &nbsp;&nbsp; 110325 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;528264 | &nbsp;&nbsp;&nbsp;&nbsp;63571 |
|  | &nbsp;&nbsp;&nbsp;Verizon Communications Inc. | &nbsp;&nbsp;&nbsp;&nbsp;986630 | &nbsp;&nbsp;&nbsp;&nbsp;38873 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;428269 | &nbsp;&nbsp; 37208 |
|  | &nbsp;&nbsp;&nbsp;Comcast Corp. Class A | &nbsp;&nbsp;1013400 | &nbsp;&nbsp;&nbsp;&nbsp;35439 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Netflix Inc. | &nbsp;&nbsp; 104544 | &nbsp;&nbsp;&nbsp;&nbsp;30828 |
|  | &nbsp;&nbsp;&nbsp;AT&T Inc. | &nbsp;&nbsp;1674308 | &nbsp;&nbsp;&nbsp;&nbsp;30824 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;T-Mobile US Inc. | &nbsp;&nbsp; 140300 | &nbsp;&nbsp; 19642 |
|  | &nbsp;&nbsp;&nbsp;Activision Blizzard Inc. | &nbsp;&nbsp; 167270 | &nbsp;&nbsp; 12804 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Charter Communications Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;25246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8561 |
|  | &nbsp;&nbsp;&nbsp;Electronic Arts Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61658 | &nbsp;&nbsp; 7533 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Warner Bros Discovery Inc. | &nbsp;&nbsp; 519095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4921 |
|  | &nbsp;&nbsp;&nbsp;Omnicom Group Inc. | &nbsp;&nbsp; 47947 | &nbsp;&nbsp; 3911 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Take-Two Interactive Software Inc. | &nbsp;&nbsp; 37084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3862 |
|  | &nbsp;&nbsp;&nbsp;Interpublic Group of Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3041 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Match Group Inc. | &nbsp;&nbsp; 65764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2729 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Live Nation Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2333 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;70965 | &nbsp;&nbsp; 2155 |
|  | &nbsp;&nbsp;&nbsp;Paramount Global Class B | &nbsp;&nbsp; 118614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002 |
|  | &nbsp;&nbsp;&nbsp;News Corp. Class A | &nbsp;&nbsp; 90106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640 |
|  | &nbsp;&nbsp;&nbsp;Lumen Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;222938 | &nbsp;&nbsp; 1164 |
|  | &nbsp;&nbsp;&nbsp;Fox Corp. Class B | &nbsp;&nbsp; 33014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DISH Network Corp. Class A | &nbsp;&nbsp; 58816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 |
|  | &nbsp;&nbsp;&nbsp;News Corp. Class B | &nbsp;&nbsp; 27360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504 |
| **** |  |  | **549484** |
| **Consumer Discretionary (9.7%)** | **Consumer Discretionary (9.7%)** | **Consumer Discretionary (9.7%)** | **Consumer Discretionary (9.7%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 2085067 | &nbsp;&nbsp; 175146 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tesla Inc. | &nbsp;&nbsp;&nbsp;&nbsp;630567 | &nbsp;&nbsp; 77673 |
|  | &nbsp;&nbsp;&nbsp;Home Depot Inc. | &nbsp;&nbsp;&nbsp;&nbsp;240503 | &nbsp;&nbsp;&nbsp;&nbsp;75965 |
|  | &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp; 172060 | &nbsp;&nbsp;&nbsp;&nbsp;45343 |
|  | &nbsp;&nbsp;&nbsp;NIKE Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;295949 | &nbsp;&nbsp;&nbsp;&nbsp;34629 |
|  | &nbsp;&nbsp;&nbsp;Lowe's Cos. Inc. | &nbsp;&nbsp; 145820 | &nbsp;&nbsp;&nbsp;&nbsp;29053 |
|  | &nbsp;&nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;269661 | &nbsp;&nbsp;&nbsp;&nbsp;26750 |
|  | &nbsp;&nbsp;&nbsp;TJX Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;272771 | &nbsp;&nbsp; 21713 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Booking Holdings Inc. | &nbsp;&nbsp; 9112 | &nbsp;&nbsp; 18363 |
|  | &nbsp;&nbsp;&nbsp;Target Corp. | &nbsp;&nbsp; 108131 | &nbsp;&nbsp; 16116 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52994 | &nbsp;&nbsp; 13050 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;O'Reilly Automotive Inc. | &nbsp;&nbsp; 14701 | &nbsp;&nbsp; 12408 |
|  | &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;333802 | &nbsp;&nbsp; 11229 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AutoZone Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4459 | &nbsp;&nbsp; 10997 |
|  | &nbsp;&nbsp;&nbsp;Ford Motor Co. | &nbsp;&nbsp; 927935 | &nbsp;&nbsp; 10792 |
|  | &nbsp;&nbsp;&nbsp;Ross Stores Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9465 |
|  | &nbsp;&nbsp;&nbsp;Marriott International Inc. Class A | &nbsp;&nbsp; 63218 | &nbsp;&nbsp; 9413 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill Inc. Class A | &nbsp;&nbsp; 6514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9038 |
|  | &nbsp;&nbsp;&nbsp;Yum! Brands Inc. | &nbsp;&nbsp; 66191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8478 |
|  | &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8033 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dollar Tree Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6991 |
|  | &nbsp;&nbsp;&nbsp;DR Horton Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6548 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Aptiv plc | &nbsp;&nbsp;&nbsp;&nbsp;63600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5923 |
|  | &nbsp;&nbsp;&nbsp;Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;25956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5839 |
|  | &nbsp;&nbsp;&nbsp;Genuine Parts Co. | &nbsp;&nbsp; 33133 | &nbsp;&nbsp; 5749 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ulta Beauty Inc. | &nbsp;&nbsp; 12026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5641 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;58982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5338 |
|  | &nbsp;&nbsp;&nbsp;eBay Inc. | &nbsp;&nbsp; 127435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5285 |
|  | &nbsp;&nbsp;&nbsp;Darden Restaurants Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3970 |
|  | &nbsp;&nbsp;&nbsp;Best Buy Co. Inc. | &nbsp;&nbsp; 47095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp; 77254 | &nbsp;&nbsp; 3714 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Etsy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3536 |
|  | &nbsp;&nbsp;&nbsp;Garmin Ltd. | &nbsp;&nbsp; 36076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3329 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NVR Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256 |
|  | &nbsp;&nbsp;&nbsp;LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59695 | &nbsp;&nbsp; 3188 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Expedia Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35395 | &nbsp;&nbsp; 3101 |
|  | &nbsp;&nbsp;&nbsp;Domino's Pizza Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2886 |
|  | &nbsp;&nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp; 9191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;51685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2555 |
|  | &nbsp;&nbsp;&nbsp;MGM Resorts International | &nbsp;&nbsp;&nbsp;&nbsp;75075 | &nbsp;&nbsp; 2517 |
|  | &nbsp;&nbsp;&nbsp;PulteGroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CarMax Inc. | &nbsp;&nbsp; 37141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2261 |
|  | &nbsp;&nbsp;&nbsp;Bath & Body Works Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2259 |
|  | &nbsp;&nbsp;&nbsp;BorgWarner Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207 |
|  | &nbsp;&nbsp;&nbsp;Tapestry Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56449 | &nbsp;&nbsp; 2150 |
|  | &nbsp;&nbsp;&nbsp;VF Corp. | &nbsp;&nbsp; 77648 | &nbsp;&nbsp; 2144 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Caesars Entertainment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099 |
|  | &nbsp;&nbsp;&nbsp;Advance Auto Parts Inc. | &nbsp;&nbsp; 14102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. | &nbsp;&nbsp; 24175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1994 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Carnival Corp. | &nbsp;&nbsp;&nbsp;&nbsp;234450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890 |
|  | &nbsp;&nbsp;&nbsp;Hasbro Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864 |
|  | &nbsp;&nbsp;&nbsp;Whirlpool Corp. | &nbsp;&nbsp; 12832 | &nbsp;&nbsp; 1815 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Mohawk Industries Inc. | &nbsp;&nbsp; 12368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings Ltd. | &nbsp;&nbsp; 98815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209 |
|  | &nbsp;&nbsp;&nbsp;Newell Brands Inc. | &nbsp;&nbsp; 88310 | &nbsp;&nbsp; 1155 |
|  | &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9631 | &nbsp;&nbsp; 1018 |
|  | &nbsp;&nbsp;&nbsp;Lennar Corp. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 |
| **** |  |  | **739484** |
| **Consumer Staples (7.2%)** | **Consumer Staples (7.2%)** | **Consumer Staples (7.2%)** | **Consumer Staples (7.2%)** |
|  | &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp; 556719 | &nbsp;&nbsp; 84376 |
|  | &nbsp;&nbsp;&nbsp;PepsiCo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;323656 | &nbsp;&nbsp;&nbsp;&nbsp;58472 |
|  | &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp; 914335 | &nbsp;&nbsp; 58161 |
|  | &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp; 103975 | &nbsp;&nbsp; 47465 |
|  | &nbsp;&nbsp;&nbsp;Walmart Inc. | &nbsp;&nbsp;&nbsp;&nbsp;331565 | &nbsp;&nbsp;&nbsp; 47013 |
|  | &nbsp;&nbsp;&nbsp;Philip Morris International Inc. | &nbsp;&nbsp; 364159 | &nbsp;&nbsp;&nbsp;&nbsp;36856 |
|  | &nbsp;&nbsp;&nbsp;Mondelez International Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;320733 | &nbsp;&nbsp;&nbsp;&nbsp;21377 |
|  | &nbsp;&nbsp;&nbsp;Altria Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;420959 | &nbsp;&nbsp; 19242 |
|  | &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp; 196202 | &nbsp;&nbsp; 15459 |
|  | &nbsp;&nbsp;&nbsp;Estee Lauder Cos. Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;54328 | &nbsp;&nbsp; 13479 |
|  | &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | &nbsp;&nbsp; 129034 | &nbsp;&nbsp; 11981 |
|  | &nbsp;&nbsp;&nbsp;General Mills Inc. | &nbsp;&nbsp; 139409 | &nbsp;&nbsp; 11689 |
|  | &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;79273 | &nbsp;&nbsp; 10761 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp; 119049 | &nbsp;&nbsp; 9101 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Monster Beverage Corp. | &nbsp;&nbsp;&nbsp;&nbsp;89489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9086 |
|  | &nbsp;&nbsp;&nbsp;Constellation Brands Inc. Class A | &nbsp;&nbsp; 38144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8840 |
|  | &nbsp;&nbsp;&nbsp;Hershey Co. | &nbsp;&nbsp;&nbsp;&nbsp;34543 | &nbsp;&nbsp; 7999 |
|  | &nbsp;&nbsp;&nbsp;Kraft Heinz Co. | &nbsp;&nbsp; 187178 | &nbsp;&nbsp; 7620 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr Pepper Inc. | &nbsp;&nbsp; 199785 | &nbsp;&nbsp; 7124 |
|  | &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp; 153191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6829 |
|  | &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance Inc. | &nbsp;&nbsp; 168450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6293 |
|  | &nbsp;&nbsp;&nbsp;McCormick & Co. Inc. (Non-Voting) | &nbsp;&nbsp;&nbsp;&nbsp;58859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4879 |
|  | &nbsp;&nbsp;&nbsp;Church & Dwight Co. Inc. | &nbsp;&nbsp; 57283 | &nbsp;&nbsp; 4617 |
|  | &nbsp;&nbsp;&nbsp;Conagra Brands Inc. | &nbsp;&nbsp; 112506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4354 |
|  | &nbsp;&nbsp;&nbsp;Kellogg Co. | &nbsp;&nbsp; 60145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4285 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;68063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4237 |
|  | &nbsp;&nbsp;&nbsp;Clorox Co. | &nbsp;&nbsp;&nbsp;&nbsp;28994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4069 |
|  | &nbsp;&nbsp;&nbsp;J M Smucker Co. | &nbsp;&nbsp;&nbsp;&nbsp;25065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3972 |
|  | &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | &nbsp;&nbsp; 68118 | &nbsp;&nbsp; 3103 |
|  | &nbsp;&nbsp;&nbsp;Lamb Weston Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3026 |

---

------

Equity Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Brown-Forman Corp. Class B | &nbsp;&nbsp;&nbsp;&nbsp;42861 | &nbsp;&nbsp; 2815 |
|  | &nbsp;&nbsp;&nbsp;Campbell Soup Co. | &nbsp;&nbsp; 47193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2678 |
|  | &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. Class B | &nbsp;&nbsp;&nbsp;&nbsp;44053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2270 |
| **** |  |  | **543528** |
| **Energy (5.2%)** | **Energy (5.2%)** | **Energy (5.2%)** | **Energy (5.2%)** |
|  | &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 967488 | &nbsp;&nbsp; 106714 |
|  | &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp; 417916 | &nbsp;&nbsp; 75012 |
|  | &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp; 292719 | &nbsp;&nbsp;&nbsp;&nbsp;34541 |
|  | &nbsp;&nbsp;&nbsp;EOG Resources Inc. | &nbsp;&nbsp; 137979 | &nbsp;&nbsp; 17871 |
|  | &nbsp;&nbsp;&nbsp;Schlumberger Ltd. | &nbsp;&nbsp; 333133 | &nbsp;&nbsp; 17809 |
|  | &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp; 110083 | &nbsp;&nbsp; 12813 |
|  | &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. | &nbsp;&nbsp; 55812 | &nbsp;&nbsp; 12747 |
|  | &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp; 111017 | &nbsp;&nbsp; 11555 |
|  | &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;90559 | &nbsp;&nbsp; 11488 |
|  | &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | &nbsp;&nbsp; 170821 | &nbsp;&nbsp; 10760 |
|  | &nbsp;&nbsp;&nbsp;Devon Energy Corp. | &nbsp;&nbsp; 153592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9447 |
|  | &nbsp;&nbsp;&nbsp;Williams Cos. Inc. | &nbsp;&nbsp; 286132 | &nbsp;&nbsp; 9414 |
|  | &nbsp;&nbsp;&nbsp;Hess Corp. | &nbsp;&nbsp;&nbsp;&nbsp;65207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9248 |
|  | &nbsp;&nbsp;&nbsp;Kinder Morgan Inc. | &nbsp;&nbsp;&nbsp;&nbsp;464837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8404 |
|  | &nbsp;&nbsp;&nbsp;Halliburton Co. | &nbsp;&nbsp; 213398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8397 |
|  | &nbsp;&nbsp;&nbsp;Baker Hughes Co. Class A | &nbsp;&nbsp; 235001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6940 |
|  | &nbsp;&nbsp;&nbsp;ONEOK Inc. | &nbsp;&nbsp; 104890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6891 |
|  | &nbsp;&nbsp;&nbsp;Diamondback Energy Inc. | &nbsp;&nbsp; 41319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5652 |
|  | &nbsp;&nbsp;&nbsp;Coterra Energy Inc. | &nbsp;&nbsp; 185226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4551 |
|  | &nbsp;&nbsp;&nbsp;Marathon Oil Corp. | &nbsp;&nbsp; 149255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4040 |
|  | &nbsp;&nbsp;&nbsp;Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;53257 | &nbsp;&nbsp; 3914 |
|  | &nbsp;&nbsp;&nbsp;APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529 |
|  | &nbsp;&nbsp;&nbsp;EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;86346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2921 |
| **** |  |  | **394658** |
| **Financials (11.6%)** | **Financials (11.6%)** | **Financials (11.6%)** | **Financials (11.6%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Berkshire Hathaway Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;423267 | &nbsp;&nbsp; 130747 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;689091 | &nbsp;&nbsp;&nbsp;&nbsp;92407 |
|  | &nbsp;&nbsp;&nbsp;Bank of America Corp. | 1639688 | &nbsp;&nbsp;&nbsp;&nbsp;54306 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp; 895196 | &nbsp;&nbsp;&nbsp;&nbsp;36963 |
|  | &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;358333 | &nbsp;&nbsp;&nbsp;&nbsp;29835 |
|  | &nbsp;&nbsp;&nbsp;Goldman Sachs Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79547 | &nbsp;&nbsp; 27315 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;309685 | &nbsp;&nbsp;&nbsp;&nbsp;26329 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78230 | &nbsp;&nbsp;&nbsp;&nbsp;26202 |
|  | &nbsp;&nbsp;&nbsp;BlackRock Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35284 | &nbsp;&nbsp;&nbsp;&nbsp;25003 |
|  | &nbsp;&nbsp;&nbsp;Chubb Ltd. | &nbsp;&nbsp; 97515 | &nbsp;&nbsp; 21512 |
|  | &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp; 140438 | &nbsp;&nbsp;&nbsp;&nbsp;20750 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;455007 | &nbsp;&nbsp;&nbsp;&nbsp;20580 |
|  | &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos. Inc. | &nbsp;&nbsp; 116538 | &nbsp;&nbsp; 19285 |
|  | &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp; 137454 | &nbsp;&nbsp; 17829 |
|  | &nbsp;&nbsp;&nbsp;PNC Financial Services Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94752 | &nbsp;&nbsp; 14965 |
|  | &nbsp;&nbsp;&nbsp;Aon plc Class A | &nbsp;&nbsp;&nbsp;&nbsp;48595 | &nbsp;&nbsp; 14585 |
|  | &nbsp;&nbsp;&nbsp;CME Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84506 | &nbsp;&nbsp; 14211 |
|  | &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp; 317639 | &nbsp;&nbsp; 13852 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange Inc. | &nbsp;&nbsp; 131215 | &nbsp;&nbsp; 13461 |
|  | &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp; 311692 | &nbsp;&nbsp; 13412 |
|  | &nbsp;&nbsp;&nbsp;MetLife Inc. | &nbsp;&nbsp; 154843 | &nbsp;&nbsp; 11206 |
|  | &nbsp;&nbsp;&nbsp;American International Group Inc. | &nbsp;&nbsp; 174527 | &nbsp;&nbsp; 11037 |
|  | &nbsp;&nbsp;&nbsp;Travelers Cos. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55055 | &nbsp;&nbsp; 10322 |
|  | &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp; 37010 | &nbsp;&nbsp; 10312 |
|  | &nbsp;&nbsp;&nbsp;Aflac Inc. | &nbsp;&nbsp; 132930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9563 |
|  | &nbsp;&nbsp;&nbsp;Arthur J Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;49537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9340 |
|  | &nbsp;&nbsp;&nbsp;MSCI Inc. Class A | &nbsp;&nbsp; 18788 | &nbsp;&nbsp; 8740 |
|  | &nbsp;&nbsp;&nbsp;Prudential Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 |
|  | &nbsp;&nbsp;&nbsp;Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8451 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;89704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8339 |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp; 172895 | &nbsp;&nbsp; 7870 |
|  | &nbsp;&nbsp;&nbsp;Ameriprise Financial Inc. | &nbsp;&nbsp; 25015 | &nbsp;&nbsp; 7789 |
|  | &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;86305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6695 |
|  | &nbsp;&nbsp;&nbsp;Discover Financial Services | &nbsp;&nbsp; 64141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6275 |
|  | &nbsp;&nbsp;&nbsp;Willis Towers Watson plc | &nbsp;&nbsp;&nbsp;&nbsp;25404 | &nbsp;&nbsp; 6213 |
|  | &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5878 |
|  | &nbsp;&nbsp;&nbsp;T. Rowe Price Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5721 |
|  | &nbsp;&nbsp;&nbsp;Hartford Financial Services Group Inc. | &nbsp;&nbsp; 74665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5662 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arch Capital Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;86836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5452 |
|  | &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp; 161178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5288 |
|  | &nbsp;&nbsp;&nbsp;First Republic Bank | &nbsp;&nbsp;&nbsp;&nbsp;42956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5236 |
|  | &nbsp;&nbsp;&nbsp;Nasdaq Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4885 |
|  | &nbsp;&nbsp;&nbsp;Raymond James Financial Inc. | &nbsp;&nbsp; 45414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4853 |
|  | &nbsp;&nbsp;&nbsp;Huntington Bancshares Inc. | &nbsp;&nbsp;&nbsp;&nbsp;338875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4778 |
|  | &nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp; 219503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4733 |
|  | &nbsp;&nbsp;&nbsp;Citizens Financial Group Inc. | &nbsp;&nbsp; 115502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4547 |
|  | &nbsp;&nbsp;&nbsp;Principal Financial Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4486 |
|  | &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;48993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4335 |
|  | &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp; 219299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3820 |
|  | &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3782 |
|  | &nbsp;&nbsp;&nbsp;FactSet Research Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3594 |
|  | &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp; 105967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3482 |
|  | &nbsp;&nbsp;&nbsp;W R Berkley Corp. | &nbsp;&nbsp; 47934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3479 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SVB Financial Group | &nbsp;&nbsp; 13857 | &nbsp;&nbsp; 3189 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55294 | &nbsp;&nbsp; 3150 |
|  | &nbsp;&nbsp;&nbsp;Cboe Global Markets Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24873 | &nbsp;&nbsp; 3121 |
|  | &nbsp;&nbsp;&nbsp;Everest Re Group Ltd. | &nbsp;&nbsp; 9201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048 |
|  | &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;46377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2705 |
|  | &nbsp;&nbsp;&nbsp;Globe Life Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557 |
|  | &nbsp;&nbsp;&nbsp;MarketAxess Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2462 |
|  | &nbsp;&nbsp;&nbsp;Comerica Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060 |
|  | &nbsp;&nbsp;&nbsp;Invesco Ltd. | &nbsp;&nbsp;&nbsp; 107121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927 |
|  | &nbsp;&nbsp;&nbsp;Franklin Resources Inc. | &nbsp;&nbsp; 66976 | &nbsp;&nbsp; 1767 |
|  | &nbsp;&nbsp;&nbsp;Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp;35260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733 |
|  | &nbsp;&nbsp;&nbsp;Signature Bank | &nbsp;&nbsp; 14854 | &nbsp;&nbsp; 1712 |
|  | &nbsp;&nbsp;&nbsp;Assurant Inc. | &nbsp;&nbsp; 12428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554 |
|  | &nbsp;&nbsp;&nbsp;Lincoln National Corp. | &nbsp;&nbsp; 36133 | &nbsp;&nbsp; 1110 |
| **** |  |  | **880407** |
| **Health Care (15.7%)** | **Health Care (15.7%)** | **Health Care (15.7%)** | **Health Care (15.7%)** |
|  | &nbsp;&nbsp;&nbsp;UnitedHealth Group Inc. | &nbsp;&nbsp; 219504 | &nbsp;&nbsp; 116377 |
|  | &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 614221 | &nbsp;&nbsp; 108502 |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp; 185275 | &nbsp;&nbsp; 67781 |
|  | &nbsp;&nbsp;&nbsp;Pfizer Inc. | &nbsp;&nbsp;1318723 | &nbsp;&nbsp; 67571 |
|  | &nbsp;&nbsp;&nbsp;AbbVie Inc. | &nbsp;&nbsp; 415463 | &nbsp;&nbsp; 67143 |
|  | &nbsp;&nbsp;&nbsp;Merck & Co. Inc. | &nbsp;&nbsp;&nbsp;&nbsp;595635 | &nbsp;&nbsp;&nbsp;&nbsp;66086 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | &nbsp;&nbsp; 92137 | &nbsp;&nbsp;&nbsp;&nbsp;50739 |
|  | &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;409593 | &nbsp;&nbsp;&nbsp;&nbsp;44969 |
|  | &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp; 153915 | &nbsp;&nbsp;&nbsp;&nbsp;40852 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;499490 | &nbsp;&nbsp;&nbsp;&nbsp;35938 |
|  | &nbsp;&nbsp;&nbsp;Amgen Inc. | &nbsp;&nbsp; 125349 | &nbsp;&nbsp;&nbsp;&nbsp;32922 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | &nbsp;&nbsp; 56106 | &nbsp;&nbsp;&nbsp;&nbsp;28781 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;308683 | &nbsp;&nbsp; 28766 |
|  | &nbsp;&nbsp;&nbsp;Gilead Sciences Inc. | &nbsp;&nbsp;&nbsp;&nbsp;294653 | &nbsp;&nbsp;&nbsp;&nbsp;25296 |
|  | &nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp; 312227 | &nbsp;&nbsp;&nbsp;&nbsp;24266 |
|  | &nbsp;&nbsp;&nbsp;Cigna Corp. | &nbsp;&nbsp;&nbsp;&nbsp;71823 | &nbsp;&nbsp;&nbsp;&nbsp;23798 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Intuitive Surgical Inc. | &nbsp;&nbsp; 83014 | &nbsp;&nbsp;&nbsp;&nbsp;22028 |
|  | &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp; 79114 | &nbsp;&nbsp; 19343 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals Inc. | &nbsp;&nbsp; 25157 | &nbsp;&nbsp; 18151 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60303 | &nbsp;&nbsp;&nbsp; 17414 |
|  | &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;66989 | &nbsp;&nbsp; 17035 |
|  | &nbsp;&nbsp;&nbsp;Zoetis Inc. Class A | &nbsp;&nbsp; 109494 | &nbsp;&nbsp; 16046 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Boston Scientific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;336430 | &nbsp;&nbsp; 15567 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | &nbsp;&nbsp; 29740 | &nbsp;&nbsp; 15233 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Moderna Inc. | &nbsp;&nbsp; 77618 | &nbsp;&nbsp; 13942 |
|  | &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp; 33310 | &nbsp;&nbsp; 12495 |
|  | &nbsp;&nbsp;&nbsp;HCA Healthcare Inc. | &nbsp;&nbsp; 49810 | &nbsp;&nbsp; 11952 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Centene Corp. | &nbsp;&nbsp; 133024 | &nbsp;&nbsp; 10909 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp. | &nbsp;&nbsp; 145220 | &nbsp;&nbsp; 10835 |
|  | &nbsp;&nbsp;&nbsp;Agilent Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69551 | &nbsp;&nbsp; 10408 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dexcom Inc. | &nbsp;&nbsp; 90740 | &nbsp;&nbsp; 10275 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Biogen Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9370 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;IQVIA Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8942 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;IDEXX Laboratories Inc. | &nbsp;&nbsp; 19452 | &nbsp;&nbsp; 7936 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Mettler-Toledo International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5241 | &nbsp;&nbsp; 7576 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Illumina Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36982 | &nbsp;&nbsp; 7478 |
|  | &nbsp;&nbsp;&nbsp;ResMed Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34441 | &nbsp;&nbsp; 7168 |
|  | &nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6298 |

---

------

Equity Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6280 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | &nbsp;&nbsp; 118330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6031 |
|  | &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings | &nbsp;&nbsp; 20810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Waters Corp. | &nbsp;&nbsp; 13952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4780 |
|  | &nbsp;&nbsp;&nbsp;Cardinal Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4732 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Molina Healthcare Inc. | &nbsp;&nbsp; 13719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4530 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Hologic Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4391 |
|  | &nbsp;&nbsp;&nbsp;STERIS plc | &nbsp;&nbsp;&nbsp;&nbsp;23478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4336 |
|  | &nbsp;&nbsp;&nbsp;Quest Diagnostics Inc. | &nbsp;&nbsp; 26764 | &nbsp;&nbsp; 4187 |
|  | &nbsp;&nbsp;&nbsp;PerkinElmer Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29655 | &nbsp;&nbsp; 4158 |
|  | &nbsp;&nbsp;&nbsp;West Pharmaceutical Services Inc. | &nbsp;&nbsp; 17394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4094 |
|  | &nbsp;&nbsp;&nbsp;Cooper Cos. Inc. | &nbsp;&nbsp; 11600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3836 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Align Technology Inc. | &nbsp;&nbsp; 17079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3602 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Incyte Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3488 |
|  | &nbsp;&nbsp;&nbsp;Viatris Inc. | &nbsp;&nbsp;&nbsp;&nbsp;284299 | &nbsp;&nbsp; 3164 |
|  | &nbsp;&nbsp;&nbsp;Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051 |
|  | &nbsp;&nbsp;&nbsp;Teleflex Inc. | &nbsp;&nbsp; 11020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2751 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Charles River Laboratories International Inc. | &nbsp;&nbsp; 11949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2604 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Henry Schein Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550 |
|  | &nbsp;&nbsp;&nbsp;Universal Health Services Inc. Class B | &nbsp;&nbsp; 15128 | &nbsp;&nbsp; 2131 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Bio-Rad Laboratories Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5042 | &nbsp;&nbsp; 2120 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Catalent Inc. | &nbsp;&nbsp; 42146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1897 |
|  | &nbsp;&nbsp;&nbsp;Organon & Co. | &nbsp;&nbsp;&nbsp;&nbsp;59648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666 |
|  | &nbsp;&nbsp;&nbsp;DENTSPLY SIRONA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50686 | &nbsp;&nbsp; 1614 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DaVita Inc. | &nbsp;&nbsp; 12890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963 |
| **** |  |  | &nbsp;&nbsp;**1194044** |
| **Industrials (8.6%)** | **Industrials (8.6%)** | **Industrials (8.6%)** | **Industrials (8.6%)** |
|  | &nbsp;&nbsp;&nbsp;Raytheon Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;345349 | &nbsp;&nbsp;&nbsp;&nbsp;34853 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International Inc. | &nbsp;&nbsp; 157933 | &nbsp;&nbsp;&nbsp;&nbsp;33845 |
|  | &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 144429 | &nbsp;&nbsp;&nbsp;&nbsp;29907 |
|  | &nbsp;&nbsp;&nbsp;United Parcel Service Inc. Class B | &nbsp;&nbsp; 171421 | &nbsp;&nbsp;&nbsp;&nbsp;29800 |
|  | &nbsp;&nbsp;&nbsp;Caterpillar Inc. | &nbsp;&nbsp; 122254 | &nbsp;&nbsp;&nbsp;&nbsp;29287 |
|  | &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;64523 | &nbsp;&nbsp; 27665 |
|  | &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54791 | &nbsp;&nbsp;&nbsp;&nbsp;26655 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Boeing Co. | &nbsp;&nbsp; 131606 | &nbsp;&nbsp;&nbsp;&nbsp;25070 |
|  | &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;256685 | &nbsp;&nbsp;&nbsp;&nbsp;21508 |
|  | &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33985 | &nbsp;&nbsp; 18543 |
|  | &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp; 129835 | &nbsp;&nbsp; 15570 |
|  | &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;493879 | &nbsp;&nbsp; 15300 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. plc | &nbsp;&nbsp; 93418 | &nbsp;&nbsp; 14662 |
|  | &nbsp;&nbsp;&nbsp;Illinois Tool Works Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65671 | &nbsp;&nbsp; 14467 |
|  | &nbsp;&nbsp;&nbsp;Waste Management Inc. | &nbsp;&nbsp; 87755 | &nbsp;&nbsp; 13767 |
|  | &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54385 | &nbsp;&nbsp; 13402 |
|  | &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp; 138890 | &nbsp;&nbsp; 13342 |
|  | &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp; 52876 | &nbsp;&nbsp; 13119 |
|  | &nbsp;&nbsp;&nbsp;Johnson Controls International plc | &nbsp;&nbsp; 161829 | &nbsp;&nbsp; 10357 |
|  | &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56238 | &nbsp;&nbsp; 9740 |
|  | &nbsp;&nbsp;&nbsp;L3Harris Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44755 | &nbsp;&nbsp; 9318 |
|  | &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20279 | &nbsp;&nbsp; 9158 |
|  | &nbsp;&nbsp;&nbsp;Trane Technologies plc | &nbsp;&nbsp; 54128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9098 |
|  | &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp; 30173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8780 |
|  | &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp; 196558 | &nbsp;&nbsp; 8108 |
|  | &nbsp;&nbsp;&nbsp;PACCAR Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8089 |
|  | &nbsp;&nbsp;&nbsp;Cummins Inc. | &nbsp;&nbsp; 33144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8030 |
|  | &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp; 97920 | &nbsp;&nbsp; 7668 |
|  | &nbsp;&nbsp;&nbsp;TransDigm Group Inc. | &nbsp;&nbsp; 12144 | &nbsp;&nbsp; 7647 |
|  | &nbsp;&nbsp;&nbsp;AMETEK Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53998 | &nbsp;&nbsp; 7545 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CoStar Group Inc. | &nbsp;&nbsp; 95614 | &nbsp;&nbsp; 7389 |
|  | &nbsp;&nbsp;&nbsp;Rockwell Automation Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6947 |
|  | &nbsp;&nbsp;&nbsp;Verisk Analytics Inc. Class A | &nbsp;&nbsp; 36767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6486 |
|  | &nbsp;&nbsp;&nbsp;Fastenal Co. | &nbsp;&nbsp; 134651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6372 |
|  | &nbsp;&nbsp;&nbsp;Republic Services Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;48203 | &nbsp;&nbsp; 6218 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Copart Inc. | &nbsp;&nbsp; 100578 | &nbsp;&nbsp; 6124 |
|  | &nbsp;&nbsp;&nbsp;Old Dominion Freight Line Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6034 |
|  | &nbsp;&nbsp;&nbsp;WW Grainger Inc. | &nbsp;&nbsp; 10557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5872 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;United Rentals Inc. | &nbsp;&nbsp; 16272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5783 |
|  | &nbsp;&nbsp;&nbsp;Equifax Inc. | &nbsp;&nbsp; 28747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5587 |
|  | &nbsp;&nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp; 83141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5342 |
|  | &nbsp;&nbsp;&nbsp;Ingersoll Rand Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4969 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Delta Air Lines Inc. | &nbsp;&nbsp; 150549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4947 |
|  | &nbsp;&nbsp;&nbsp;Quanta Services Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4786 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp; 139399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4694 |
|  | &nbsp;&nbsp;&nbsp;Xylem Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4682 |
|  | &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4465 |
|  | &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4265 |
|  | &nbsp;&nbsp;&nbsp;IDEX Corp. | &nbsp;&nbsp; 17735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4049 |
|  | &nbsp;&nbsp;&nbsp;Expeditors International of Washington Inc. | &nbsp;&nbsp; 37400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3887 |
|  | &nbsp;&nbsp;&nbsp;Jacobs Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3602 |
|  | &nbsp;&nbsp;&nbsp;Textron Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49090 | &nbsp;&nbsp; 3476 |
|  | &nbsp;&nbsp;&nbsp;Howmet Aerospace Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3407 |
|  | &nbsp;&nbsp;&nbsp;JB Hunt Transport Services Inc. | &nbsp;&nbsp; 19500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 |
|  | &nbsp;&nbsp;&nbsp;Leidos Holdings Inc. | &nbsp;&nbsp; 32144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381 |
|  | &nbsp;&nbsp;&nbsp;Nordson Corp. | &nbsp;&nbsp; 12597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;United Airlines Holdings Inc. | &nbsp;&nbsp; 76946 | &nbsp;&nbsp; 2901 |
|  | &nbsp;&nbsp;&nbsp;Snap-on Inc. | &nbsp;&nbsp; 12453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845 |
|  | &nbsp;&nbsp;&nbsp;Stanley Black & Decker Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34835 | &nbsp;&nbsp; 2617 |
|  | &nbsp;&nbsp;&nbsp;CH Robinson Worldwide Inc. | &nbsp;&nbsp; 27724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538 |
|  | &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2467 |
|  | &nbsp;&nbsp;&nbsp;Allegion plc | &nbsp;&nbsp;&nbsp;&nbsp;20566 | &nbsp;&nbsp; 2165 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9367 | &nbsp;&nbsp; 2161 |
|  | &nbsp;&nbsp;&nbsp;Rollins Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;American Airlines Group Inc. | &nbsp;&nbsp; 152185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936 |
|  | &nbsp;&nbsp;&nbsp;Robert Half International Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882 |
|  | &nbsp;&nbsp;&nbsp;Pentair plc | &nbsp;&nbsp;&nbsp;&nbsp;38504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732 |
|  | &nbsp;&nbsp;&nbsp;A O Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Generac Holdings Inc. | &nbsp;&nbsp; 14958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alaska Air Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1279 |
| **** |  |  | &nbsp;&nbsp; **653175** |
| **Information Technology (25.6%)** | **Information Technology (25.6%)** | **Information Technology (25.6%)** | **Information Technology (25.6%)** |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | &nbsp;&nbsp;3512970 | &nbsp;&nbsp;&nbsp;&nbsp;456439 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | 1751241 | &nbsp;&nbsp; 419983 |
|  | &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;584962 | &nbsp;&nbsp;&nbsp;&nbsp;85486 |
|  | &nbsp;&nbsp;&nbsp;Visa Inc. Class A | &nbsp;&nbsp; 384104 | &nbsp;&nbsp; 79801 |
|  | &nbsp;&nbsp;&nbsp;Mastercard Inc. Class A | &nbsp;&nbsp; 199423 | &nbsp;&nbsp;&nbsp;&nbsp;69345 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | &nbsp;&nbsp; 95146 | &nbsp;&nbsp; 53199 |
|  | &nbsp;&nbsp;&nbsp;Cisco Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;964543 | &nbsp;&nbsp;&nbsp;&nbsp;45951 |
|  | &nbsp;&nbsp;&nbsp;Accenture plc Class A | &nbsp;&nbsp; 148019 | &nbsp;&nbsp;&nbsp;&nbsp;39497 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Adobe Inc. | &nbsp;&nbsp; 109212 | &nbsp;&nbsp;&nbsp;&nbsp;36753 |
|  | &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | &nbsp;&nbsp; 213209 | &nbsp;&nbsp;&nbsp;&nbsp;35226 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Salesforce Inc. | &nbsp;&nbsp; 234913 | &nbsp;&nbsp; 31147 |
|  | &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp; 212391 | &nbsp;&nbsp;&nbsp;&nbsp;29924 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 361010 | &nbsp;&nbsp;&nbsp;&nbsp;29509 |
|  | &nbsp;&nbsp;&nbsp;QUALCOMM Inc. | &nbsp;&nbsp;&nbsp;&nbsp;263347 | &nbsp;&nbsp;&nbsp;&nbsp;28952 |
|  | &nbsp;&nbsp;&nbsp;Intuit Inc. | &nbsp;&nbsp; 66212 | &nbsp;&nbsp;&nbsp;&nbsp;25771 |
|  | &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp; 969514 | &nbsp;&nbsp;&nbsp;&nbsp;25624 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Advanced Micro Devices Inc. | &nbsp;&nbsp;&nbsp;&nbsp;378772 | &nbsp;&nbsp;&nbsp;&nbsp;24533 |
|  | &nbsp;&nbsp;&nbsp;Automatic Data Processing Inc. | &nbsp;&nbsp; 97447 | &nbsp;&nbsp; 23276 |
|  | &nbsp;&nbsp;&nbsp;Analog Devices Inc. | &nbsp;&nbsp; 120825 | &nbsp;&nbsp; 19819 |
|  | &nbsp;&nbsp;&nbsp;Applied Materials Inc. | &nbsp;&nbsp; 202100 | &nbsp;&nbsp; 19681 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PayPal Holdings Inc. | &nbsp;&nbsp;&nbsp; 267811 | &nbsp;&nbsp; 19074 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ServiceNow Inc. | &nbsp;&nbsp; 47451 | &nbsp;&nbsp; 18424 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fiserv Inc. | &nbsp;&nbsp; 149165 | &nbsp;&nbsp; 15076 |
|  | &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32037 | &nbsp;&nbsp; 13465 |
|  | &nbsp;&nbsp;&nbsp;Micron Technology Inc. | &nbsp;&nbsp;&nbsp;&nbsp;255393 | &nbsp;&nbsp; 12765 |
|  | &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33289 | &nbsp;&nbsp; 12551 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Synopsys Inc. | &nbsp;&nbsp; 35917 | &nbsp;&nbsp; 11468 |
|  | &nbsp;&nbsp;&nbsp;Roper Technologies Inc. | &nbsp;&nbsp; 24912 | &nbsp;&nbsp; 10764 |
|  | &nbsp;&nbsp;&nbsp;Amphenol Corp. Class A | &nbsp;&nbsp; 139785 | &nbsp;&nbsp; 10643 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cadence Design Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64441 | &nbsp;&nbsp; 10352 |
|  | &nbsp;&nbsp;&nbsp;Motorola Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39281 | &nbsp;&nbsp; 10123 |
|  | &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;60888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9622 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Autodesk Inc. | &nbsp;&nbsp; 50716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9477 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Information Services Inc. | &nbsp;&nbsp; 139390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9458 |
|  | &nbsp;&nbsp;&nbsp;Microchip Technology Inc. | &nbsp;&nbsp; 129259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9080 |
|  | &nbsp;&nbsp;&nbsp;Paychex Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8709 |
|  | &nbsp;&nbsp;&nbsp;TE Connectivity Ltd. | &nbsp;&nbsp; 74741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8580 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Enphase Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8463 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Fortinet Inc. | &nbsp;&nbsp; 152431 | &nbsp;&nbsp; 7452 |

---

------

Equity Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Keysight Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42035 | &nbsp;&nbsp; 7191 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Arista Networks Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58200 | &nbsp;&nbsp; 7063 |
|  | &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp. Class A | &nbsp;&nbsp; 120605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6897 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ON Semiconductor Corp. | &nbsp;&nbsp; 101484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6330 |
|  | &nbsp;&nbsp;&nbsp;Global Payments Inc. | &nbsp;&nbsp; 63474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6304 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Gartner Inc. | &nbsp;&nbsp; 18549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6235 |
|  | &nbsp;&nbsp;&nbsp;Corning Inc. | &nbsp;&nbsp; 178694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5708 |
|  | &nbsp;&nbsp;&nbsp;CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31782 | &nbsp;&nbsp; 5676 |
|  | &nbsp;&nbsp;&nbsp;HP Inc. | &nbsp;&nbsp; 207831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5584 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ANSYS Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4943 |
|  | &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;302228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4824 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;VeriSign Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4452 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;EPAM Systems Inc. | &nbsp;&nbsp; 13512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4428 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Teledyne Technologies Inc. | &nbsp;&nbsp; 11015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4405 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;SolarEdge Technologies Inc. | &nbsp;&nbsp; 13142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3723 |
|  | &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions Inc. | &nbsp;&nbsp; 27660 | &nbsp;&nbsp; 3710 |
|  | &nbsp;&nbsp;&nbsp;Monolithic Power Systems Inc. | &nbsp;&nbsp; 10485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3708 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Paycom Software Inc. | &nbsp;&nbsp; 11430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3547 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;First Solar Inc. | &nbsp;&nbsp; 23311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3492 |
|  | &nbsp;&nbsp;&nbsp;Skyworks Solutions Inc. | &nbsp;&nbsp; 37688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3435 |
|  | &nbsp;&nbsp;&nbsp;Teradyne Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3203 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;FleetCor Technologies Inc. | &nbsp;&nbsp; 17350 | &nbsp;&nbsp; 3187 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tyler Technologies Inc. | &nbsp;&nbsp; 9760 | &nbsp;&nbsp; 3147 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Akamai Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36979 | &nbsp;&nbsp; 3117 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Zebra Technologies Corp. Class A | &nbsp;&nbsp; 12108 | &nbsp;&nbsp; 3105 |
|  | &nbsp;&nbsp;&nbsp;NetApp Inc. | &nbsp;&nbsp; 51146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3072 |
|  | &nbsp;&nbsp;&nbsp;Jack Henry & Associates Inc. | &nbsp;&nbsp;&nbsp; 17165 | &nbsp;&nbsp; 3014 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PTC Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2986 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Trimble Inc. | &nbsp;&nbsp; 57870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926 |
|  | &nbsp;&nbsp;&nbsp;Gen Digital Inc. | &nbsp;&nbsp; 136448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2924 |
|  | &nbsp;&nbsp;&nbsp;Juniper Networks Inc. | &nbsp;&nbsp; 76455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2444 |
|  | &nbsp;&nbsp;&nbsp;Seagate Technology Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp;45241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2380 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp; 74854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Ceridian HCM Holding Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Qorvo Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23739 | &nbsp;&nbsp; 2152 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;F5 Inc. | &nbsp;&nbsp; 14014 | &nbsp;&nbsp; 2011 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DXC Technology Co. | &nbsp;&nbsp; 54319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439 |
| **** |  |  | **1942908** |
| **Materials (2.7%)** | **Materials (2.7%)** | **Materials (2.7%)** | **Materials (2.7%)** |
|  | &nbsp;&nbsp;&nbsp;Linde plc | &nbsp;&nbsp; 116137 | &nbsp;&nbsp; 37882 |
|  | &nbsp;&nbsp;&nbsp;Air Products and Chemicals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52099 | &nbsp;&nbsp; 16060 |
|  | &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;55394 | &nbsp;&nbsp; 13147 |
|  | &nbsp;&nbsp;&nbsp;Freeport-McMoRan Inc. | &nbsp;&nbsp;&nbsp;&nbsp;335708 | &nbsp;&nbsp; 12757 |
|  | &nbsp;&nbsp;&nbsp;Corteva Inc. | &nbsp;&nbsp; 167881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9868 |
|  | &nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp; 186516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8804 |
|  | &nbsp;&nbsp;&nbsp;Ecolab Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58231 | &nbsp;&nbsp; 8476 |
|  | &nbsp;&nbsp;&nbsp;Dow Inc. | &nbsp;&nbsp; 165417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8335 |
|  | &nbsp;&nbsp;&nbsp;DuPont de Nemours Inc. | &nbsp;&nbsp; 116776 | &nbsp;&nbsp; 8014 |
|  | &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp; 60301 | &nbsp;&nbsp; 7948 |
|  | &nbsp;&nbsp;&nbsp;PPG Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6949 |
|  | &nbsp;&nbsp;&nbsp;International Flavors & Fragrances Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59842 | &nbsp;&nbsp; 6274 |
|  | &nbsp;&nbsp;&nbsp;Albemarle Corp. | &nbsp;&nbsp; 27495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5963 |
|  | &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;31209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5465 |
|  | &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV Class A | &nbsp;&nbsp;&nbsp;&nbsp;59695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4956 |
|  | &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | &nbsp;&nbsp; 14579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4927 |
|  | &nbsp;&nbsp;&nbsp;Amcor plc | &nbsp;&nbsp; 349910 | &nbsp;&nbsp; 4167 |
|  | &nbsp;&nbsp;&nbsp;CF Industries Holdings Inc. | &nbsp;&nbsp; 46111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3929 |
|  | &nbsp;&nbsp;&nbsp;Steel Dynamics Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3831 |
|  | &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;73848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777 |
|  | &nbsp;&nbsp;&nbsp;FMC Corp. | &nbsp;&nbsp; 29614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3696 |
|  | &nbsp;&nbsp;&nbsp;Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;80068 | &nbsp;&nbsp; 3513 |
|  | &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | &nbsp;&nbsp; 19029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3444 |
|  | &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp; 83716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2899 |
|  | &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;21785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2787 |
|  | &nbsp;&nbsp;&nbsp;Celanese Corp. Class A | &nbsp;&nbsp; 23401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392 |
|  | &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | &nbsp;&nbsp;&nbsp;&nbsp;28088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2287 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Westrock Co. | &nbsp;&nbsp;&nbsp;&nbsp;59693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099 |
|  | &nbsp;&nbsp;&nbsp;Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698 |
| **** |  |  | **206344** |
| **Real Estate (2.7%)** | **Real Estate (2.7%)** | **Real Estate (2.7%)** | **Real Estate (2.7%)** |
|  | &nbsp;&nbsp;&nbsp;Prologis Inc. | &nbsp;&nbsp; 216845 | &nbsp;&nbsp;&nbsp;&nbsp;24445 |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp; 109373 | &nbsp;&nbsp; 23172 |
|  | &nbsp;&nbsp;&nbsp;Equinix Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21738 | &nbsp;&nbsp; 14239 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle Inc. | &nbsp;&nbsp; 101719 | &nbsp;&nbsp; 13797 |
|  | &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp; 37129 | &nbsp;&nbsp; 10403 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp. | &nbsp;&nbsp;&nbsp; 147314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9344 |
|  | &nbsp;&nbsp;&nbsp;Simon Property Group Inc. | &nbsp;&nbsp; 76815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9024 |
|  | &nbsp;&nbsp;&nbsp;VICI Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;226427 | &nbsp;&nbsp; 7336 |
|  | &nbsp;&nbsp;&nbsp;Welltower Inc. | &nbsp;&nbsp; 111095 | &nbsp;&nbsp; 7282 |
|  | &nbsp;&nbsp;&nbsp;SBA Communications Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;25386 | &nbsp;&nbsp;&nbsp; 7116 |
|  | &nbsp;&nbsp;&nbsp;Digital Realty Trust Inc. | &nbsp;&nbsp; 67469 | &nbsp;&nbsp; 6765 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CBRE Group Inc. Class A | &nbsp;&nbsp; 74180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5709 |
|  | &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | &nbsp;&nbsp; 173071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5365 |
|  | &nbsp;&nbsp;&nbsp;AvalonBay Communities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5305 |
|  | &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35062 | &nbsp;&nbsp; 5108 |
|  | &nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;79875 | &nbsp;&nbsp; 4713 |
|  | &nbsp;&nbsp;&nbsp;Extra Space Storage Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4630 |
|  | &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities Inc. | &nbsp;&nbsp; 27145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4262 |
|  | &nbsp;&nbsp;&nbsp;Ventas Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4235 |
|  | &nbsp;&nbsp;&nbsp;Invitation Homes Inc. | &nbsp;&nbsp; 136485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4045 |
|  | &nbsp;&nbsp;&nbsp;Iron Mountain Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408 |
|  | &nbsp;&nbsp;&nbsp;Essex Property Trust Inc. | &nbsp;&nbsp; 15223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3226 |
|  | &nbsp;&nbsp;&nbsp;Healthpeak Properties Inc. | &nbsp;&nbsp; 126454 | &nbsp;&nbsp; 3170 |
|  | &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | &nbsp;&nbsp; 144971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3071 |
|  | &nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;24990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796 |
|  | &nbsp;&nbsp;&nbsp;UDR Inc. | &nbsp;&nbsp; 72011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2789 |
|  | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts Inc. | &nbsp;&nbsp; 167569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690 |
|  | &nbsp;&nbsp;&nbsp;Boston Properties Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2268 |
|  | &nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253 |
|  | &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp; 17136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731 |
|  | &nbsp;&nbsp;&nbsp;Vornado Realty Trust | &nbsp;&nbsp; 37971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 |
| **** |  |  | **204487** |
| **Utilities (3.2%)** | **Utilities (3.2%)** | **Utilities (3.2%)** | **Utilities (3.2%)** |
|  | &nbsp;&nbsp;&nbsp;NextEra Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;466838 | &nbsp;&nbsp;&nbsp;&nbsp;39028 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp; 180905 | &nbsp;&nbsp; 18631 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp; 255749 | &nbsp;&nbsp; 18263 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy Inc. | &nbsp;&nbsp; 195703 | &nbsp;&nbsp; 12000 |
|  | &nbsp;&nbsp;&nbsp;American Electric Power Co. Inc. | &nbsp;&nbsp; 120692 | &nbsp;&nbsp; 11460 |
|  | &nbsp;&nbsp;&nbsp;Sempra Energy | &nbsp;&nbsp;&nbsp;&nbsp;73821 | &nbsp;&nbsp; 11408 |
|  | &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;233446 | &nbsp;&nbsp; 10092 |
|  | &nbsp;&nbsp;&nbsp;Xcel Energy Inc. | &nbsp;&nbsp; 128554 | &nbsp;&nbsp; 9013 |
|  | &nbsp;&nbsp;&nbsp;Consolidated Edison Inc. | &nbsp;&nbsp;&nbsp;&nbsp;83406 | &nbsp;&nbsp; 7949 |
|  | &nbsp;&nbsp;&nbsp;Public Service Enterprise Group Inc. | &nbsp;&nbsp;&nbsp; 117321 | &nbsp;&nbsp; 7188 |
|  | &nbsp;&nbsp;&nbsp;WEC Energy Group Inc. | &nbsp;&nbsp;&nbsp; 74174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6955 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;81902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6867 |
|  | &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp; 76740 | &nbsp;&nbsp; 6616 |
|  | &nbsp;&nbsp;&nbsp;American Water Works Co. Inc. | &nbsp;&nbsp; 42765 | &nbsp;&nbsp; 6518 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp; 377930 | &nbsp;&nbsp; 6145 |
|  | &nbsp;&nbsp;&nbsp;Edison International | &nbsp;&nbsp;&nbsp;&nbsp;89641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5703 |
|  | &nbsp;&nbsp;&nbsp;Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5398 |
|  | &nbsp;&nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp; 47773 | &nbsp;&nbsp; 5374 |
|  | &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | &nbsp;&nbsp; 127533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5349 |
|  | &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;45495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5347 |
|  | &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp; 172900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5052 |
|  | &nbsp;&nbsp;&nbsp;AES Corp. | &nbsp;&nbsp;&nbsp; 157010 | &nbsp;&nbsp; 4516 |
|  | &nbsp;&nbsp;&nbsp;CenterPoint Energy Inc. | &nbsp;&nbsp; 147904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4436 |
|  | &nbsp;&nbsp;&nbsp;CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4321 |
|  | &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3686 |
|  | &nbsp;&nbsp;&nbsp;Evergy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 |
|  | &nbsp;&nbsp;&nbsp;Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3262 |
|  | &nbsp;&nbsp;&nbsp;NiSource Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622 |
|  | &nbsp;&nbsp;&nbsp;Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26498 | &nbsp;&nbsp; 2015 |

---

------

Equity Index Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;NRG Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1716 |
| **** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **240330** |
| **Total Common Stocks<br> (Cost $4,518,772)** | **Total Common Stocks<br> (Cost $4,518,772)** | **Total Common Stocks<br> (Cost $4,518,772)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7548849** |
| **Temporary Cash Investments (0.6%)** | **Temporary Cash Investments (0.6%)** | **Temporary Cash Investments (0.6%)** | **Temporary Cash Investments (0.6%)** |
| **Money Market Fund (0.6%)** | **Money Market Fund (0.6%)** | **Money Market Fund (0.6%)** | **Money Market Fund (0.6%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 4.334%<br> **(Cost $42,922)** | &nbsp;&nbsp;&nbsp;&nbsp;429268 | **42922** |
| **Total Investments (100.0%)<br> (Cost $4,561,694)** | **Total Investments (100.0%)<br> (Cost $4,561,694)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7591771** |
| **Other Assets and Liabilities—Net (0.0%)** | **Other Assets and Liabilities—Net (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(207)** |
| **Net Assets (100%)** | **Net Assets (100%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7591564** |

---

Cost is in $000.

• See Note A in Notes to Financial Statements.

\* Non-income-producing security. <br> 1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.

------

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts | Long Futures Contracts |
| E-mini S&P 500 Index | March 2023 | 219 | 42278 | &nbsp;&nbsp;(1089) |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Index Portfolio

Statement of Assets and Liabilities

As of December 31, 2022

---

| | |
|:---|:---|
| ($000s, except shares, footnotes, and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated Issuers (Cost $4,518,772) | &nbsp;&nbsp;7548849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Issuers (Cost $42,922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42922 |
| Total Investments in Securities | &nbsp;&nbsp;7591771 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 |
| Cash Collateral Pledged—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2814 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6704 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3592 |
| **Total Assets** | &nbsp;&nbsp;**7605970** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12115 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 |
| Variation Margin Payable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14406** |
| **Net Assets** | &nbsp;&nbsp;**7591564** |
| <br> **At December 31, 2022, net assets consisted of:** |  |
| Paid-in Capital | &nbsp;&nbsp;4182305 |
| Total Distributable Earnings (Loss) | 3409259 |
| **Net Assets** | &nbsp;&nbsp;**7591564** |
| **Net Assets** |  |
| **Applicable to 149,619,587 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;**7591564** |
| **Net Asset Value Per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$50.74** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Index Portfolio

Statement of Operations

---

| | |
|:---|:---|
|  | Year Ended<br> December 31, 2022 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Dividends<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;129892 |
| Interest<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564 |
| Securities Lending—Net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| Total Income | &nbsp;&nbsp;&nbsp;&nbsp;130475 |
| **Expenses** |  |
| The Vanguard Group—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 |
| Auditing Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 |
| Shareholders' Reports | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11275 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11273 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;**119202** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;272286 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4879) |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**267407** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities<sup>2</sup> | (2077965) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2163) |
| **Change in Unrealized Appreciation (Depreciation)** | **(2080128)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **(1693519)** |

---

---

| | |
|:---|:---|
| 1 | Dividends are net of foreign withholding taxes of $58,000. |
| 2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the portfolio were $537,000, ($1000), less than $1,000, and $4,000, respectively. Purchases and sales are for temporary cash investment purposes. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Index Portfolio

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022<br> ($000) | &nbsp;&nbsp;&nbsp;2021<br> ($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105618 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359238 |
| Change in Unrealized Appreciation (Depreciation) | (2080128) | &nbsp;&nbsp;&nbsp;&nbsp;1644218 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | (1693519) | &nbsp;&nbsp;&nbsp;&nbsp;2109074 |
| **Distributions** |  |  |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(465299) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(418079) |
| **Capital Share Transactions** |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;849472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711464 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;465299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418079 |
| Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(918334) | &nbsp;&nbsp;&nbsp;(1021957) |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;396437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107586 |
| Total Increase (Decrease) | &nbsp;&nbsp;(1762381) | &nbsp;&nbsp;&nbsp;&nbsp;1798581 |
| **Net Assets** |  |  |
| **Beginning of Period** | &nbsp;&nbsp;**9353945** | &nbsp;&nbsp;&nbsp;&nbsp;**7555364** |
| **End of Period** | &nbsp;&nbsp;&nbsp;**7591564** | &nbsp;&nbsp;&nbsp;&nbsp;**9353945** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Index Portfolio

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
| For a Share Outstanding<br> Throughout Each Period | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;2018 |
| **Net Asset Value, Beginning of Period** | &nbsp;&nbsp;&nbsp;**$65.47** | &nbsp;&nbsp;&nbsp;**$53.76** | &nbsp;&nbsp;&nbsp;**$47.70** | &nbsp;&nbsp;&nbsp;**$38.03** | &nbsp;&nbsp;&nbsp;**$41.17** |
| **Investment Operations** |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.804 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;(12.244) | &nbsp;&nbsp;&nbsp;&nbsp;13.978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.014 | &nbsp;&nbsp;&nbsp;&nbsp;10.791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.556) |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;(11.438) | &nbsp;&nbsp;&nbsp;&nbsp;14.716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.812 | &nbsp;&nbsp;&nbsp;&nbsp;11.596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.752) |
| **Distributions** |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.758) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.754) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.806) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.834) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.703) |
| Distributions from Realized Capital Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.534) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.252) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.092) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.685) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.006) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.752) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.926) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.388) |
| **Net Asset Value, End of Period** | &nbsp;&nbsp;&nbsp;**$50.74** | &nbsp;&nbsp;&nbsp;**$65.47** | &nbsp;&nbsp;&nbsp;**$53.76** | &nbsp;&nbsp;&nbsp;**$47.70** | &nbsp;&nbsp;&nbsp;**$38.03** |
| **Total Return** | &nbsp;&nbsp;&nbsp;**-18.23%** | &nbsp;&nbsp;&nbsp;**28.55%** | &nbsp;&nbsp;&nbsp;**18.20%** | &nbsp;&nbsp;&nbsp;**31.30%** | &nbsp;&nbsp;&nbsp;**-4.51%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |
| Net Assets, End of Period (Millions) | &nbsp;&nbsp;&nbsp;$7592 | &nbsp;&nbsp;&nbsp;$9354 | &nbsp;&nbsp;&nbsp;$7555 | &nbsp;&nbsp;&nbsp;$6458 | &nbsp;&nbsp;&nbsp;$4934 |
| Ratio of Total Expenses to Average Net Assets | &nbsp;&nbsp;&nbsp;0.14%<sup>2</sup> | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% | &nbsp;&nbsp;&nbsp;0.14% |
| Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;&nbsp;1.48% | &nbsp;&nbsp;&nbsp;1.25% | &nbsp;&nbsp;&nbsp;1.73% | &nbsp;&nbsp;&nbsp;1.87% | &nbsp;&nbsp;&nbsp;1.94% |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;5% | &nbsp;&nbsp;&nbsp;4% | &nbsp;&nbsp;&nbsp;8% | &nbsp;&nbsp;&nbsp;4% | &nbsp;&nbsp;&nbsp;5% |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.14%. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

Equity Index Portfolio

Notes to Financial Statements

The Equity Index Portfolio, a portfolio of Vanguard Variable Insurance Funds, is registered under the Investment Company Act of 1940 as an open-end investment company. The portfolio's shares are only available for purchase by separate accounts of insurance companies as investments for variable annuity plans, variable life insurance contracts, or other variable benefit insurance contracts.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia's invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the portfolio's investments and portfolio performance.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The portfolio consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the portfolio's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Futures Contracts: The portfolio uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The portfolio may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the portfolio and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the portfolio trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the portfolio's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the year ended December 31, 2022, the portfolio's average investments in long and short futures contracts represented 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. Federal Income Taxes: The portfolio intends to continue to qualify as a regulated investment company and distribute virtually all of its taxable income. The portfolio's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the portfolio's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the portfolio's financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

5. Securities Lending: To earn additional income, the portfolio lends its securities to qualified institutional borrowers. Security loans are subject to termination by the portfolio at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The portfolio further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of

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Equity Index Portfolio

prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty's default (including bankruptcy), the portfolio may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the portfolio; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the portfolio may experience delays and costs in recovering the securities loaned. The portfolio invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the portfolio is entitled to all distributions made on or in respect of the loaned securities.

6. Credit Facilities and Interfund Lending Program: The portfolio and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the portfolio's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the portfolio's board of trustees and included in Management and Administrative expenses on the portfolio's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the portfolio and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the portfolio may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the portfolio's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the year ended December 31, 2022, the portfolio did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

B. In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the portfolio, Vanguard furnishes to the portfolio investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the portfolio based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the portfolio may invest up to 0.40% of its net assets as capital in Vanguard. At December 31, 2022, the portfolio had contributed to Vanguard capital in the amount of $290,000, representing less than 0.01% of the portfolio's net assets and 0.12% of Vanguard's capital received pursuant to the FSA. The portfolio's trustees and officers are also directors and employees, respectively, of Vanguard.

C. The portfolio's custodian bank has agreed to reduce its fees when the portfolio maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset arrangements reduced the portfolio's expenses by $2,000 (an annual rate of less than 0.01% of average net assets).

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Equity Index Portfolio

D. Various inputs may be used to determine the value of the portfolio's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the portfolio's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

At December 31, 2022, 100% of the market value of the portfolio's investments and derivatives was determined based on Level 1 inputs.

E. Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share.

Temporary differences between book-basis and tax-basis components of total distributable earnings (loss) arise when certain items of income, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. The differences are primarily related to the deferral of losses from wash sales; and the recognition of unrealized gains or losses from certain derivative contracts. As of period end, the tax-basis components of total distributable earnings (loss) are detailed in the table as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Undistributed Ordinary Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114176 |
| Undistributed Long-Term Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265458 |
| Capital Loss Carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Qualified Late-Year Losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Unrealized Gains (Losses) | &nbsp;&nbsp;&nbsp;3029625 |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Year Ended December 31, | &nbsp;&nbsp;&nbsp;Year Ended December 31, |
|  | &nbsp;&nbsp;&nbsp;2022<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;&nbsp;2021<br> Amount<br> ($000) |
| Ordinary Income\* | &nbsp;&nbsp;&nbsp;114459 | &nbsp;&nbsp;&nbsp;&nbsp;108293 |
| Long-Term Capital Gains | &nbsp;&nbsp;&nbsp;350840 | &nbsp;&nbsp;&nbsp;&nbsp;309786 |
| Total | &nbsp;&nbsp;&nbsp;465299 | &nbsp;&nbsp;&nbsp;&nbsp;418079 |

---

\* Includes short-term capital gains, if any.

As of December 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;4562146 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;3590593 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(560968) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;3029625 |

---

F. During the year ended December 31, 2022, the portfolio purchased $485,618,000 of investment securities and sold $435,228,000 of investment securities, other than temporary cash investments.

The portfolio purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the year ended December 31, 2022, such purchases were $41,152,000 and sales were $23,202,000, resulting in net realized gain of $9,248,000; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

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Equity Index Portfolio

G. Capital shares issued and redeemed were:

---

| | | |
|:---|:---|:---|
|  | Year Ended December 31, | Year Ended December 31, |
|  | 2022 | &nbsp;&nbsp;2021 |
|  | Shares<br> (000) | &nbsp;&nbsp;Shares<br> (000) |
| Issued | &nbsp;&nbsp;15519 | &nbsp;&nbsp;&nbsp;11966 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;7787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7731 |
| Redeemed | (16568) | &nbsp;&nbsp;(17343) |
| Net Increase (Decrease) in Shares Outstanding | &nbsp;&nbsp;&nbsp;&nbsp;6738 | &nbsp;&nbsp;&nbsp;&nbsp;2354 |

---

At December 31, 2022, one shareholder (an insurance company separate account whose holdings in the portfolio represent the indirect investment of Vanguard Variable Annuity contract holders) was the record or beneficial owner of 44% of the portfolio's net assets. If this shareholder were to redeem its investment in the portfolio, the redemption might result in an increase in the portfolio's expense ratio, cause the portfolio to incur higher transaction costs, or lead to the realization of taxable capital gains.

H. Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements.

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#### Report of Independent Registered

#### Public Accounting Firm
To the Board of Trustees of Vanguard Variable Insurance Funds and Shareholders of Equity Index ‎Portfolio

#### Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of ‎investments, of Equity Index Portfolio (one of the portfolios constituting Vanguard Variable Insurance ‎Funds, referred to hereafter as the "Portfolio") as of December 31, 2022, the related statement of ‎operations for the year ended December 31, 2022, the statement of changes in net assets for each of the ‎two years in the period ended December 31, 2022, including the related notes, and the financial highlights ‎for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial ‎statements"). In our opinion, the financial statements present fairly, in all material respects, the financial ‎position of the Portfolio as of December 31, 2022, the results of its operations for the year then ended, ‎the changes in its net assets for each of the two years in the period ended December 31, 2022 and the ‎financial highlights for each of the five years in the period ended December 31, 2022 in conformity with ‎accounting principles generally accepted in the United States of America. ‎

#### Basis for Opinion
These financial statements are the responsibility of the Portfolio's management. Our responsibility is to ‎express an opinion on the Portfolio's financial statements based on our audits. We are a public ‎accounting firm registered with the Public Company Accounting Oversight Board (United States) ‎‎(PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. ‎federal securities laws and the applicable rules and regulations of the Securities and Exchange ‎Commission and the PCAOB. ‎

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. ‎Those standards require that we plan and perform the audit to obtain reasonable assurance about whether ‎the financial statements are free of material misstatement, whether due to error or fraud. ‎

Our audits included performing procedures to assess the risks of material misstatement of the financial ‎statements, whether due to error or fraud, and performing procedures that respond to those risks. Such ‎procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the ‎financial statements. Our audits also included evaluating the accounting principles used and significant ‎estimates made by management, as well as evaluating the overall presentation of the financial ‎statements. Our procedures included confirmation of securities owned as of December 31, 2022 by ‎correspondence with the custodian, transfer agent and brokers; when replies were not received from ‎brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis ‎for our opinion.‎

‎ /s/PricewaterhouseCoopers LLP<br> Philadelphia, Pennsylvania<br> February 15, 2023‎

We have served as the auditor of one or more investment companies in The Vanguard Group of Funds ‎since 1975.

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Tax information (unaudited)

For corporate shareholders, 100.0%, or if subsequently determined to be different, the maximum percentage allowable by law, of ordinary income (dividend income plus short-term gains, if any) for the fiscal year qualified for the dividends-received deduction.

The portfolio hereby designates $146,000, or if subsequently determined to be different, the maximum amount allowable by law, of interest earned from obligations of the U.S. government which is generally exempt from state income tax.

The portfolio distributed $350,840,000 as capital gain dividends (20% rate gain distributions) to shareholders during the fiscal year.

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The S&P 500 Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI"), and has been licensed for use by Vanguard. Standard & Poor's<sup>®</sup>, and S&P<sup>®</sup> are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P") and Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). The trademarks have been licensed to SPDJI and have been sublicensed for use for certain purposes by Vanguard. Vanguard Equity Index Portfolio is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices make no representation or warranty, express or implied, to the owners of Vanguard Equity Index Portfolio or any member of the public regarding the advisability of investing in securities generally or in Vanguard Equity Index Portfolio particularly or the ability of the S&P 500 Index to track general market performance. S&P Dow Jones Indices' only relationship to Vanguard with respect to the S&P 500 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index is determined, composed and calculated by S&P Dow Jones Indices without regard to Vanguard or Vanguard Equity Index Portfolio. S&P Dow Jones Indices have no obligation to take the needs of Vanguard or the owners of Vanguard Equity Index Portfolio into consideration in determining, composing or calculating the S&P 500 Index. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of Vanguard Equity Index Portfolio or the timing of the issuance or sale of Vanguard Equity Index Portfolio or in the determination or calculation of the equation by which Vanguard Equity Index Portfolio is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices have no obligation or liability in connection with the administration, marketing or trading of Vanguard Equity Index Portfolio. There is no assurance that investment products based on the S&P 500 Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500 INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY VANGUARD, OWNERS OF VANGUARD EQUITY INDEX PORTFOLIO, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND VANGUARD, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund's trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them.

A majority of Vanguard's board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 206 Vanguard funds.

Information for each trustee and executive officer of the fund appears below. That information, as well as the Vanguard fund count, is as of the date on the cover of this fund report. The mailing address of the trustees and officers is P.O. Box 876, Valley Forge, PA 19482. More information about the trustees is in the *Statement of Additional Information*, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.

#### Interested Trustee<sup>1</sup>

#### Mortimer J. Buckley
Born in 1969. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chairman of the board (2019–present) of Vanguard and of each of the investment companies served by Vanguard; chief executive officer (2018–present) of Vanguard; chief executive officer, president, and trustee (2018–present) of each of the investment companies served by Vanguard; president and director (2017–present) of Vanguard; and president (2018–present) of Vanguard Marketing Corporation. Chief investment officer (2013–2017), managing director (2002–2017), head of the Retail Investor Group (2006–2012), and chief information officer (2001–2006) of Vanguard. Member of the board of governors of the Investment Company Institute and the board of governors of FINRA. Trustee and vice chair of The Shipley School.

#### Independent Trustees

#### Tara Bunch
Born in 1962. Trustee since November 2021. Principal occupation(s) during the past five years and other experience: head of global operations at Airbnb (2020–present). Vice president of AppleCare (2012–2020). Member of the board of directors of Out & Equal (2002–2006), the advisory board of the University of California, Berkeley School of Engineering (2020–present), and the advisory board of Santa Clara University's Leavey School of Business (2018–present).

#### Emerson U. Fullwood
Born in 1948. Trustee since January 2008. Principal occupation(s) during the past five years and other experience: executive chief staff and marketing officer for North America and corporate vice president (retired 2008) of Xerox Corporation (document management products and services). Former president of the Worldwide Channels Group, Latin America, and Worldwide Customer Service and executive chief staff officer of Developing Markets of Xerox. Executive in residence and 2009–2010 Distinguished Minett Professor at the Rochester Institute of Technology. Member of the board of directors of the University of Rochester Medical Center, the Monroe Community College Foundation, the United Way of Rochester, North Carolina A&T University, Roberts Wesleyan College, and the Rochester Philharmonic Orchestra. Trustee of the University of Rochester.

F. Joseph Loughrey

Born in 1949. Trustee since October 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2009) and vice chairman of the board (2008–2009) of Cummins Inc. (industrial machinery). Chairman of the board of Hillenbrand, Inc. (specialized consumer services). Director of the V Foundation. Member of the advisory council for the College of Arts and Letters at the University of Notre Dame. Chairman of the board of Saint Anselm College.

#### Mark Loughridge
Born in 1953. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: senior vice president and chief financial officer (retired 2013) of IBM (information technology services). Fiduciary member of IBM's Retirement Plan Committee (2004–2013), senior vice president and general manager (2002–2004) of IBM Global Financing, vice president and controller (1998–2002) of

IBM, and a variety of other prior management roles at IBM. Member of the Council on Chicago Booth.

#### Scott C. Malpass
Born in 1962. Trustee since March 2012. Principal occupation(s) during the past five years and other experience: adjunct professor of finance at the University of Notre Dame (2020–present). Chief investment officer (retired 2020) and vice president (retired 2020) of the University of Notre Dame. Assistant professor (retired June 2020) of finance at the Mendoza College of Business, University of Notre Dame, and member of the Notre Dame 403(b) Investment Committee. Member of the board of Catholic Investment Services, Inc. (investment advisors), the board of superintendence of the Institute for the Works of Religion, and the board of directors of Paxos Trust Company (finance).

#### Deanna Mulligan
Born in 1963. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: chief executive officer of Purposeful (advisory firm for CEOs and C-level executives; 2021–present). Board chair (2020), chief executive officer (2011–2020), and president (2010–2019) of The Guardian Life Insurance Company of America. Chief operating officer (2010–2011) and executive vice president (2008–2010) of Individual Life and Disability of the Guardian Life Insurance Company of America. Member of the board of the Economic Club of New York. Trustee of the Partnership for New York City (business leadership), Chief Executives for Corporate Purpose, and the NewYork-Presbyterian Hospital.

#### André F. Perold
Born in 1952. Trustee since December 2004. Principal occupation(s) during the past five years and other experience: George Gund Professor of Finance and Banking, Emeritus at the Harvard Business School (retired 2011). Chief investment officer and co-managing partner of HighVista Strategies (private investment firm). Member of the board (2018–present) of RIT Capital Partners (investment firm). Member of the investment committee of Partners Health Care System.

#### Sarah Bloom Raskin
Born in 1961. Trustee since January 2018. Principal occupation(s) during the past five years and other experience: deputy secretary (2014–2017) of the United States Department of the Treasury. Governor (2010–2014) of the Federal Reserve Board. Commissioner (2007–2010) of financial regulation for the State of Maryland. Colin W. Brown Distinguished Professor of the Practice of Law (2021–present), professor (2020–present), Distinguished Fellow of the Global Financial Markets Center (2020–present), and Rubenstein Fellow (2017–2020) at Duke University. Trustee (2017–present) of Amherst College and member of Amherst College Investment Committee (2019–present). Member of the Regenerative Crisis Response Committee (2020–present).

#### David A. Thomas
Born in 1956. Trustee since July 2021. Principal occupation(s) during the past five years and other experience: president of Morehouse College (2018–present). Professor of business administration, emeritus at Harvard University (2017–2018). Dean (2011–2016) and professor of management (2016–2017) at the Georgetown University McDonough School of Business. Director of DTE Energy Company (2013–present). Trustee of Common Fund (2019–present).

1 Mr. Buckley is considered an "interested person," as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.

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#### Peter F. Volanakis
Born in 1955. Trustee since July 2009. Principal occupation(s) during the past five years and other experience: president and chief operating officer (retired 2010) of Corning Incorporated (communications equipment) and director of Corning Incorporated (2000–2010) and Dow Corning (2001–2010). Director (2012) of SPX Corporation (multi-industry manufacturing). Overseer of the Amos Tuck School of Business Administration, Dartmouth College (2001–2013). Member of the BMW Group Mobility Council.

#### Executive Officers

#### Jacqueline Angell
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief compliance officer ‎‎(November 2022–present) of Vanguard and of each of the investment companies served by Vanguard. Chief compliance officer (2018–2022) ‎and deputy chief compliance officer (2017–2019) of State Street Corporation.

#### Christine M. Buchanan
Born in 1970. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Chief financial officer (2021–present) and treasurer (2017–2022) of each of the investment companies served by Vanguard. Partner (2005–2017) at KPMG (audit, tax, and advisory services).

#### John Galloway
Born in 1973. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Investment stewardship officer (September 2020–present) of each of the investment companies served by Vanguard. Head of Investor Advocacy (February 2020–present) and head of Marketing Strategy and Planning (2017–2020) at Vanguard. Special assistant to the President of the United States (2015).

#### Ashley Grim
Born in 1984. Principal occupation(s) during the past five years and other experience: treasurer (February 2022–present) of each of the ‎investment companies served by Vanguard. Fund transfer agent controller (2019–2022) and director of Audit Services

(2017–2019) at ‎Vanguard. Senior manager (2015–2017) at PriceWaterhouseCoopers (audit and assurance, consulting, and tax services).

#### Peter Mahoney
Born in 1974. Principal occupation(s) during the past five years and other experience: principal of Vanguard. Controller (2015–present) of each of the investment companies served by Vanguard. Head of International Fund Services (2008–2014) at Vanguard.

#### Anne E. Robinson
Born in 1970. Principal occupation(s) during the past five years and other experience: general counsel (2016–present) of Vanguard. Secretary (2016–present) of Vanguard and of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Managing director and general counsel of Global Cards and Consumer Services (2014–2016) at Citigroup. Counsel (2003–2014) at American Express. Nonexecutive director of the board of National Grid (energy).

#### Michael Rollings
Born in 1963. Principal occupation(s) during the past five years and other experience: finance director (2017–present) and treasurer (2017) of each of the investment companies served by Vanguard. Managing director (2016–present) of Vanguard. Chief financial officer (2016–present) of Vanguard. Director (2016–present) of Vanguard Marketing Corporation. Executive vice president and chief financial officer (2006–2016) of MassMutual Financial Group.

#### Vanguard Senior Management Team

---

| | |
|:---|:---|
| **Matthew Benchener** | **Thomas M. Rampulla** |
| **Joseph Brennan** | **Karin A. Risi** |
| **Mortimer J. Buckley** | **Anne E. Robinson** |
| **Gregory Davis** | **Michael Rollings** |
| **John James** | **Nitin Tandon** |
| **Chris D. McIsaac** | **Lauren Valente** |

---

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![](tm231735d7undereqindexi006.jpg)

Connect with Vanguard<sup>®</sup>>vanguard.com

#### Fund Information > 800-662-7447

#### Direct Investor Account Services > 800-662-2739

#### Institutional Investor Services > 800-523-1036

#### Text Telephone for People<br> Who Are Deaf or Hard of Hearing > 800-749-7273
This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund's current prospectus.

All comparative mutual fund data are from Morningstar, Inc., unless otherwise noted.

You can obtain a free copy of Vanguard's proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC's website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your portfolio on the SEC's website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.

Source for Bloomberg indexes: Bloomberg Index Services Limited. Copyright 2023, Bloomberg. All rights reserved.© 2023 The Vanguard Group, Inc.<br> All rights reserved.<br> Vanguard Marketing Corporation, Distributor.

Q690TSMI 022023

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**Item 2**: Code of Ethics.

The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. The Code of Ethics was amended during the reporting period covered by this report to make certain technical, non-material changes.

**Item 3**: Audit Committee Financial Expert.

All members of the Audit Committee have been determined by the Registrant's Board of Trustees to be Audit Committee Financial Experts and to be independent: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.

**Item 4**: Principal Accountant Fees and Services.

(a) Audit Fees.

Audit Fees of the Registrant.

Fiscal Year Ended December 31, 2022: $514,000<br> Fiscal Year Ended December 31, 2021: $507,000

Aggregate Audit Fees of Registered Investment Companies in the Vanguard Group.

Fiscal Year Ended December 31, 2022: $10,494,508<br> Fiscal Year Ended December 31, 2021: $11,244,694

Includes fees billed in connection with audits of the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(b) Audit-Related Fees.

Fiscal Year Ended December 31, 2022: $2,757,764<br> Fiscal Year Ended December 31, 2021: $2,955,181

Includes fees billed in connection with assurance and related services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(c) Tax Fees.

Fiscal Year Ended December 31, 2022: $5,202,689<br> Fiscal Year Ended December 31, 2021: $2,047,574

Includes fees billed in connection with tax compliance, planning, and advice services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(d) All Other Fees.

Fiscal Year Ended December 31, 2022: $298,000<br> Fiscal Year Ended December 31, 2021: $280,000

Includes fees billed for services related to tax reported information provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(e) (1) Pre-Approval Policies. The policy of the Registrant's Audit Committee is to consider, and, if appropriate, approve before the principal accountant is engaged for such services, all specific audit and non-audit services provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant. In making a determination, the Audit Committee considers whether the services are consistent with maintaining the principal accountant's independence.

In the event of a contingency situation in which the principal accountant is needed to provide services in between scheduled Audit Committee meetings, the Chairman of the Audit Committee would be called on to consider and, if appropriate, pre-approve audit or permitted non-audit services in an amount sufficient to complete services through the next Audit Committee meeting, and to determine if such services would be consistent with maintaining the accountant's independence. At the next scheduled Audit Committee meeting, services and fees would be presented to the Audit Committee for formal consideration, and, if appropriate, approval by the entire Audit Committee. The Audit Committee would again consider whether such services and fees are consistent with maintaining the principal accountant's independence.

The Registrant's Audit Committee is informed at least annually of all audit and non-audit services provided by the principal accountant to the Vanguard complex, whether such services are provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., or other entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) No percentage of the principal accountant's fees or services were approved pursuant to the waiver provision of paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) For the most recent fiscal year, over 50% of the hours worked under the principal accountant's engagement were <u>not</u> performed by persons other than full-time, permanent employees of the principal accountant.

(g) Aggregate Non-Audit Fees.

Fiscal Year Ended December 31, 2022: $5,500,689<br> Fiscal Year Ended December 31, 2021: $2,327,574

Includes fees billed for non-audit services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.

(h) For the most recent fiscal year, the Audit Committee has determined that the provision of all non-audit services was consistent with maintaining the principal accountant's independence.

**Item 5**: Audit Committee of Listed Registrants.

The Registrant is a listed issuer as defined in rule 10A-3 under the Securities Exchange Act of 1934 ("Exchange Act"). The Registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The Registrant's audit committee members are: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.

**Item 6**: Investments.

Not applicable. The complete schedule of investments is included as part of the report to shareholders filed under Item 1 of this Form.

**Item 7**: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

**Item 8**: Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

**Item 9**: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

**Item 10**: Submission of Matters to a Vote of Security Holders.

Not applicable.

**Item 11**: Controls and Procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant's Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Internal Control Over Financial Reporting. There were no significant changes in the Registrant's Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

**Item 12**: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

**Item 13**: Exhibits.

---

| | |
|:---|:---|
| [(a)(1)](tm234376d1_ex99-codeeth.htm) | [Code of Ethics filed herewith.](tm234376d1_ex99-codeeth.htm) |
| [(a)(2)](tm231735d7_ex99-cert.htm) | [Certifications filed herewith.](tm231735d7_ex99-cert.htm) |
| [(b)](tm231735d7_ex99-906cert.htm) | [Certifications filed herewith.](tm231735d7_ex99-906cert.htm) |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  | VANGUARD VARIABLE INSURANCE FUNDS |
| BY: | /s/ MORTIMER J. BUCKLEY\* |
|  | &nbsp;&nbsp;&nbsp;MORTIMER J. BUCKLEY |
|  | CHIEF EXECUTIVE OFFICER |

---

Date: February 17, 2023

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
|  | VANGUARD VARIABLE INSURANCE FUNDS |
| BY: | /s/ MORTIMER J. BUCKLEY\* |
|  | &nbsp;&nbsp;&nbsp;MORTIMER J. BUCKLEY |
|  | CHIEF EXECUTIVE OFFICER |

---

Date: February 17, 2023

---

| | |
|:---|:---|
|  | VANGUARD VARIABLE INSURANCE FUNDS |
| BY: | /s/ CHRISTINE BUCHANAN\* |
|  | &nbsp;&nbsp;&nbsp;CHRISTINE BUCHANAN |
|  | CHIEF FINANCIAL OFFICER |

---

Date: February 17, 2023

---

| | |
|:---|:---|
| \* By: | <u>/s/ Anne E. Robinson</u> |

---

Anne E. Robinson, pursuant to a [Power of Attorney](https://www.sec.gov/Archives/edgar/data/1021882/000168386322006693/f23389d2.htm) filed on October 11, 2022 (see File Number 333-11763), Incorporated by Reference.

## Ex-99.Code

**Exhibit 99.CODEETH**

![](tm234376d1_coeimg01.jpg)

&nbsp;&nbsp; **Access Person Code of Conduct**<br>Effective Date: 01 March 2022 \| Contact: Code_of_Ethics@vanguard.com<br>

**Background – Why This Access Person Code of Conduct Matters** 

Vanguard was founded with a singular focus on clients and serving their best interests, and this has been the foundation of our strong ethical culture. One way in which we consistently seek to earn and maintain the trust and loyalty of our clients is by adhering to the highest standards of ethical behavior. Acting with integrity and complying with applicable laws and regulations necessarily extends to your conduct in general and to your personal investing and trading activities in particular.

Some crew and contingent workers at Vanguard, by virtue of their role or department, are designated as an "Access Person" (i.e., an Advisor Access Person, Fund Access Person, or Investment Access Person) because they or their department are authorized to know about present or future transactions by Vanguard funds, or have the authority to influence those transactions, or otherwise have access to sensitive market or client activity. Because of that knowledge, authority, and access, Access Persons are subject to additional standards of business conduct, stricter personal investment rules, and greater oversight, among other things. These standards and rules, as set forth in this Access Person Code of Conduct (APCC)<sup>1</sup>, have been adopted with the goals of ensuring we comply with applicable law and avoiding conflicts of interest or the appearance of conflicts of interest. This is especially true regarding any potential conflicts of interest that could arise between the securities trading that Vanguard undertakes on behalf of the Vanguard funds or our clients and the personal securities trading by crew, contingent workers, and their household or family members.

**Policy Coverage**

**To Whom Does the APCC Apply?** 

This policy<sup>2</sup> applies to ***all crew members and contingent workers globally who are in a role that has been designated as an "Access Person" role***. Certain provisions of this policy also apply to Associated Persons.

**Are you an Access Person?** Visit Appendix A to learn whether the role you're in is an Access Person role, and if so, which Access Person "designation" applies.

**What about Non-Access Persons?** Any crew member or contingent worker who is <u>not</u> in a role that has been designated as an Access Person role is a "Non-Access Person" and must comply with the Personal Investment Activity Policy for Non-Access Persons, not this policy.

**Are you a contingent worker?** A "contingent worker" is any person other than a crew member who provides services to or on behalf of Vanguard through staffing firms, consulting

<sup>1</sup> The APCC constitutes the code of ethics that the Vanguard funds have adopted in compliance with U.S. SEC Rules 17j-1 and 204A-1.

<sup>2</sup> The APCC is a policy that has been created and approved, and is governed, similar to other policies at Vanguard. As used herein, references to "this policy" mean the APCC.

Page **1** of **37**

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firms, service providers, or as independent contractors. Like crew, a contingent worker can be in either an Access Person or Non-Access Person role.

**What about Associated Persons?** For U.S. crew and contingent workers who are Associated Persons (to reiterate, not Access Persons, but *Associated* Persons) under FINRA rules and regulations, please note you have additional investment-related obligations under the FINRA Licensing Policy, including the Securities Account Reporting Obligations for Associated Persons. Please review and comply with those documents, as well.

**Policy Overview** 

There are four primary sections to this policy:

**Section 1** **– Standards of Business Conduct**, sets forth rules and expectations regarding your behavior and conduct.

**Section 2** **– Personal Investment Activities**, contains rules on how you and your Household or Family Members may own and trade securities for your own personal benefit. Note that some of these rules differ based on your Access Person designation. While the details are set forth in Section 2, at a high level there are four subsections applicable to you and your personal investment activities:

A – Reminders on who is covered

B – Brokerage firms you may use

C – Disclosure obligations

D – Investment and trading restrictions

**Section 3** **– Penalties and Sanctions**, describes how violations of this policy are addressed and enforced.

**Section 4** **– Defined terms**, provides definitions for the capitalized terms used in this policy.

Please carefully read the rest of this policy and ensure you understand and comply with its terms. Understanding and following this policy is one of the most important ways we can ensure our clients' interests always come first.

Be sure you are familiar with the following other Vanguard policies that relate to your ethical conduct and personal investment activities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Standards of Conduct Policy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Conflicts of Interest Policy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Insider Trading Policy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Outside Business Activity Policy

Please also ensure you are familiar with Vanguard's Code of Ethical Conduct.

**Policy Requirements** 

**Section 1 – Standards of Business Conduct** 

Everyone at Vanguard is expected to promote high standards of integrity and manage the company's affairs honestly and ethically. We all have a personal responsibility to conduct ourselves

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in a manner that reflects a commitment to ethics and compliance with all applicable laws and regulations. Doing so is part and parcel of Vanguard's mission to "take a stand for all investors, to treat them fairly, and to give them the best chance for investment success."

Putting these values into practice means having and adhering to expected standards of business conduct. The Vanguard policy that explains these standards is the Standards of Conduct Policy, which is incorporated herein by reference. You must comply with that policy, including the following standards of conduct that are explained therein:

&nbsp;&nbsp;&nbsp;&nbsp;1. Always put Vanguard clients' interests first and
treat them fairly.

&nbsp;&nbsp;&nbsp;&nbsp;2. Avoid conflicts of interest.

&nbsp;&nbsp;&nbsp;&nbsp;3. Be candid and clear with clients and provide them with
accurate information.

&nbsp;&nbsp;&nbsp;&nbsp;4. Comply with applicable laws, rules, regulations, and policies.

&nbsp;&nbsp;&nbsp;&nbsp;5. Comply with applicable professional standards.

&nbsp;&nbsp;&nbsp;&nbsp;6. Complete mandatory training and regularly certify that
you are compliant with our policies.

&nbsp;&nbsp;&nbsp;&nbsp;7. Maintain accurate, timely, and complete business records.

&nbsp;&nbsp;&nbsp;&nbsp;8. Protect against fraud.

&nbsp;&nbsp;&nbsp;&nbsp;9. Lead by example.

&nbsp;&nbsp;&nbsp;&nbsp;10. Speak up.

At Vanguard, you are expected to always **do the right thing**. It sounds simple and it's usually very clear what doing the right thing entails. But sometimes it isn't. How do you make the best choice when facing difficult or unclear circumstances? How do you navigate an ethical dilemma?

In those situations, you should pause and reflect, and then work through the following "ethical decision-making guide." This guide will help you consider important questions before deciding whether or how to proceed with an action. It is not a substitute for this or any policy, and it may not tell you exactly what to do in every situation, but it can be used as a tool to help guide you when you face an ethical dilemma or a complex situation where the answer might not be clear.

If you're still in doubt as you work through the decision-making guide, err on the side of caution—ask questions, elevate the issue, and enlist the help of others to ensure we reach the *right* answer every time for Vanguard and our clients.

![](tm234376d1_coeimg02.jpg)

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***Speaking Up*** – As mentioned above, you are encouraged to help protect our clients, crew, and Vanguard by reporting concerns about ethics, financial or business integrity, information security and privacy, workplace practices, or alleged violations of policy, regulation, or law. Indeed, speaking up is one of the most effective ways to help ensure Vanguard maintains its high standards for ethics and compliance. To that end, if you become aware that you or anyone else violated any of the terms of this policy, you must contact Compliance immediately.

Likewise, it is your responsibility to know whether the role you are in is designated as an Access Person, and if so, which Access Person designation applies to you (visit the Appendix A to learn more). It is also your responsibility to know the policies and trading restrictions that apply to you accordingly, and to ask questions if you are unsure.

**Section 2 – Personal Investment Activities** 

**<u>Introduction</u>**

Vanguard recognizes the importance to crew and contingent workers of being able to manage and develop their own financial resources through long-term investments and strategies. With that in mind, the rules and requirements set forth in this policy have been adopted with the goals of (1) ensuring we comply with all applicable laws and regulations, and (2) avoiding any conflicts of interest, or any appearances of conflicts of interest, between the securities trading that Vanguard undertakes on behalf of Vanguard funds or our clients and the personal securities trading or investing by crew, contingent workers, or their Household or Family Members (defined in Section 4, below). Our industry and Vanguard have implemented certain standards and limitations designed to minimize these conflicts and help ensure that we focus on meeting our duty to clients.

Granted, the rules in this policy are demanding and strict and they may feel like an imposition. But at Vanguard, we take our ethical obligations very seriously, and the rules in this policy are intended to ensure that trading on behalf of Vanguard funds and clients are given priority over trading for your personal accounts, and that trades for your personal accounts do not adversely affect trades for our funds or clients.

Similarly, keep in mind that you must comply with applicable securities laws and must avoid taking personal advantage of your knowledge of securities activity in Vanguard funds or client accounts.

This policy includes specific restrictions on personal investing but cannot anticipate every fact pattern or situation. You should adhere to the spirit, and not just the letter, of this policy.

Compliance will keep all records relating to personal account trading as confidential as necessary. Information will be accessible within Compliance and may be reported to senior management or HR. Records may also need to be made available to Internal Audit and/or any regulator. All non-U.S. crew and contingent workers are required to sign a data consent / data privacy notice.

The Compliance Department reserves the right to monitor any and all investment or trading activity by you or by any Household or Family Member based on any information or system to which it has access.

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**<u>Checklist</u>**

Given the complexity of this policy and the steps you must take to ensure you remain in compliance with it, we have created this brief checklist to help you keep track of your obligations. This is merely a summary, so be sure to comply with the full terms of this policy as well.

---

| | |
|:---|:---|
| Checklist item | &nbsp;&nbsp;Where this topic is covered in this policy |
| ¨ I know my Access Person "designation," and I am aware that this policy applies not only to me but also to my Household or Family Members | &nbsp;&nbsp;Subsection 2-A – Who Is Covered Under this Policy |
| ¨ For the region where I work, I know what brokerage firm I and my Household or Family Members may use to maintain the accounts where I or they hold and trade Reportable Securities | &nbsp;&nbsp;Subsection 2-B – Brokerage Firms You May Use |
| ¨ For my Access Person designation, I know the initial and ongoing account and holdings disclosure obligations that apply to me and my Household or Family Members | &nbsp;&nbsp;Subsection 2-C – Disclosure Obligations |
| ◻ For my Access Person designation, I know the rules and limitations for transacting securities in my personal accounts and those of my Household or Family Members | &nbsp;&nbsp;Subsections 2-D-1 and 2-D-2 – Investment and Trading Restrictions |
| ¨ For Fund Access Person and Investment Access Person designations, I know how to seek trade preclearance | &nbsp;&nbsp;Subsection 2-D-3 – How to Seek and Abide by Preclearance Requirements |
| ¨ I know the penalties and sanctions that may apply for violations of any of the requirements under this policy | &nbsp;&nbsp;Section 3 – Penalties and Sanctions |
| ¨ I understand the meaning of the defined terms used in this policy | &nbsp;&nbsp;Section 4 – Defined Terms |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> ***Quick Tip:*** <br>The rules in this policy cover most of the personal investing situations you are likely to find. Yet it's always possible you will encounter a situation that isn't fully addressed by the rules. If that happens, you need to know what to do. The easiest way to make sure you are making the right decision is to follow these three principles: <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Know the policy. If you think your situation isn't covered, check again. It never hurts to take a second look at the rules. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Seek guidance. Asking questions is always appropriate. Talk with your manager or contact Compliance if you're not sure about the policy requirements or how they apply to your situation. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Use sound judgment. Analyze the situation and weigh the options. Think about how your decision would look to someone outside of Vanguard. <br>

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&nbsp;&nbsp;***Note for crew in China:*** <br>Because you may not have access to MCO, different systems and procedures are in place for you to disclose accounts and holdings. Please consult with your manager or the China Compliance team to learn more.<br>

**Subsection 2-A – Who Is Covered Under this Policy** 

As stated in the introduction to this policy, above, this policy applies to all crew members and contingent workers globally who are in a role that has been designated as an "Access Person" role.

**Access Persons are covered** – This policy applies to crew and contingent worker Access Persons and, in certain instances, to their Household or Family Members.

&nbsp;&nbsp;&nbsp;&nbsp;o *Access Persons* – Please note that the specific trading prohibitions and reporting requirements
 vary depending on your Access Person "designation," meaning <u>Advisor</u> Access
 Person, <u>Fund</u> Access Person, or <u>Investment</u> Access Person. To learn the Access
 Person designation that applies to your role, visit Appendix A. Note further that, regardless
 of your designation, the Compliance Department has the authority, with appropriate notice
 to you, to apply to you any or all of the trading restrictions within this policy

&nbsp;&nbsp;&nbsp;&nbsp;o *Household or Family Members* – Certain aspects of this policy apply not only to you but to
 your Household or Family Members, as well. Why? Doing so is required by applicable law and
 regulations in many jurisdictions. It is also consistent with industry best practices and
 helps Vanguard ensure we are effectively monitoring and guarding against conflicts of interest
 and other issues. See Section 4, below, for the definition of Household or Family Members
 in the region where you work.

**Non-Access Persons are not covered** – If the role you are in is <u>not</u> an Access Person role, you do not need to comply with this policy; instead, with regard to your personal investments, you must comply with the Personal Investment Activity Policy for Non-Access Persons (and other applicable policies). Note, however, that in the event a Non-Access Person is a Household or Family Member of an Access Person, then the terms of this policy will apply to the Non-Access Person as a Household or Family Member hereunder and any conflicting terms of this policy will take precedence over the Personal Investment Activity Policy for Non-Access Persons.

**Associated Persons also have obligations under other policies and documents** – For U.S. crew and contingent workers who are deemed to be Associated Persons (to reiterate, not Access Persons, but *Associated* Persons) under the FINRA Licensing Policy, you have certain obligations under this policy and have additional investment-related obligations under the FINRA Licensing Policy and the Securities Account Reporting Obligations for Associated Persons.

**Your designation may change** – Keep in mind that your Access Person designation may change over time, for instance if you change roles, if there are changes made in your department, or if the Compliance Department determines a designation change is appropriate. You are advised to regularly consult the My Ethics and Compliance Resource Center available on CrewNet to check your designation.

**Subsection 2-B – Brokerage Firms You May Use** 

The terms of Subsection 2-B apply to all Access Person designations.

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The following requirements and restrictions on which brokerage firms you may use to hold and transact Reportable Securities apply to you based on whether you are a crew member or contingent worker and where you work:

---

| | |
|:---|:---|
| **U.S. Crew:** | &nbsp;&nbsp;Crew who are Access Persons employed in the U.S., *and their Household or Family Members (parts (a) and (b) of that defined term only),* **must maintain and trade all Reportable Securities in a Vanguard Brokerage Account (VBA)**. This obligation does not apply to any Household or Family Members covered under part (c) of that defined term. See the Defined Terms in Section 4, below, for all definitions.<br>Securities or investments that are not "Reportable Securities" may be held in a brokerage account at the firm of your choice.<br>Employer-sponsored retirement accounts (e.g., 401(k) and 403(b)), 529 college savings plans, and Compliance-approved accounts (e.g., Approved Managed Accounts) may be held in a brokerage account at the firm of your choice. However, if you hold any Reportable Securities through any of those accounts, then such accounts are considered Covered Accounts under this policy and you are required to disclose them to Compliance under Subsection 2-C of this policy.<br>Newly hired U.S. crew who are Access Persons, *and their Household or Family Members (parts (a) and (b) of that defined term only),* must transfer any existing applicable Reportable Securities to a VBA by submitting a request or other applicable paperwork with Vanguard and each firm at which you have an existing applicable brokerage account within 60 days of your joining Vanguard. Visit *Vanguard.com > Personal Investors > Open an Account* to transfer assets from another firm to Vanguard. <br>For a more detailed list of Securities that must be held in a VBA, as well as Securities that may be held elsewhere, visit the Appendices C-F. <br>|
| **Ex-U.S. Crew:** | &nbsp;&nbsp;Crew who are Access Persons employed outside the U.S., and their Household or Family Members, may maintain Reportable Securities (as well as Securities or investments that are not Reportable Securities) in a brokerage account or other type of account *at the firm of their choice*. <br>|
| **Contingent Workers, Globally** | &nbsp;&nbsp;Contingent workers who are Access Persons may maintain Reportable Securities (as well as Securities or investments that are not Reportable Securities) in a brokerage account *at the firm of their choice*. <br>|

---

**Subsection 2-C – Disclosure Obligations** 

The terms of this Subsection 2-C apply to all Access Person designations and to all Associated Persons.

This policy requires the disclosure of a variety of account and holdings information to the Compliance Department for monitoring and oversight. This policy requires (1) an initial disclosure of information, and (2) periodic ongoing disclosures. Even if you do not have any personal brokerage

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account holdings or do not trade in Reportable Securities, you are still required to complete the necessary initial and periodic disclosures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>1. Initial Disclosure of Accounts and Holdings</u>

Within ten (10) calendar days of joining Vanguard, or if applicable within ten (10) calendar days of moving from a Non-Access Person role at Vanguard into an Access Person role, all Access Persons and Associated Persons must disclose the following to Compliance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All Covered Accounts and all Reportable Securities held by you or a Household or Family Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All Covered Accounts in which you exercise Investment Discretion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) All Covered Accounts over which you exercise control (e.g., agent authority (full or limited), trustee, power of attorney authority, etc.);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) All accounts in which you have, or will acquire, Beneficial Ownership of Securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) All accounts held by you and any Household or Family Member in which there are college saving plan products (including, in the U.S., 529 plans), annuity products, or other insurance products that, in turn, hold or invest in Vanguard Funds.

This includes Brokerage Accounts held at Vanguard, as well as those held at another financial institution. For clarity, you do not need to disclose an account or submit transaction confirmations or statements if the account does not have the ability to hold Securities – for example, a traditional checking, savings, or deposit account with a bank, credit union, or building society for holding cash would not need to be disclosed.

This information must be current as of no more than 45 calendar days before joining Vanguard.

To make this initial disclosure, you will receive an Initial Certification assignment by email to complete which will include a section to disclose Covered Accounts and all Reportable Securities by including account information in the "Account Attestation" section of the assignment and uploading corresponding account statements via MCO**. You must complete and submit the Initial Certification within ten (10) calendar days of receiving it; the failure to do so may be considered a violation of this policy.**

&nbsp;&nbsp;<u>Note</u>: We use an application called MyComplianceOffice, or MCO, to help manage this policy. You may use MCO to disclose accounts and holdings, and to secure trading permissions, if those obligations apply to you. Visit My Ethics and Compliance Resource Center on CrewNet for resources on how to access and use MCO

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>2. Ongoing Disclosure of Accounts, Transactions, and Duplicate Statements</u>

After the Initial Disclosure, Access Persons and Associated Persons may need to disclose account and transaction information to Compliance on a periodic basis regarding Covered Accounts and any transactions in Reportable Securities made by you and your Household or Family Members.

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Further, if at any time you or a Household or Family Member subsequently:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· open,
 or intend to open, a Covered Account with a financial institution (e.g., broker, dealer,
 advisor, or any other professional money manager), or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· acquire
 holdings in Reportable Securities, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· have
 a preexisting Covered Account (including a Vanguard Brokerage Account) that becomes associated
 with you or a Household or Family Member (such as through marriage or inheritance or some
 other life event),

or there becomes an account in which you acquire Beneficial Ownership of Securities, then you must notify Compliance as soon as possible (and in any event within 10 calendar days) and disclose these Covered Accounts and Reportable Securities by listing them and including associated information in the Accounts tab in MCO.

For U.S. crew, keep in mind that, as explained in Section 2-B of this policy above, you and your Household or Family Members (parts (a) and (b) of that defined term only) must maintain Reportable Securities in a VBA.

What and how to disclose this information:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· For
 VBAs disclosed by U.S. crew as required under this policy, Compliance will receive transaction
 confirmations automatically. No additional action by you is needed to disclose transactions
 of Reportable Securities in VBAs you have disclosed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· For
 Covered Accounts and holdings of Reportable Securities held outside of Vanguard (including
 in any account that would require disclosure under Section 2-C(1) of this policy), it is <u>your responsibility</u> to ensure that duplicate statements and transaction confirmations
 are available to or delivered to Compliance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Because
 Vanguard has file feed contracts in place with many brokerage firms worldwide, for many Covered
 Accounts you disclose the holdings and transactions information will be sent to Compliance
 electronically with no additional action needed by you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o For
 Covered Accounts held at firms where Vanguard does not have a file feed in place, you must
 do the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Contact
 the firm where your Covered Account is held and take steps to send duplicate statements and
 daily transaction confirmations (electronic or paper) to Vanguard. You do this often by making
 Vanguard Compliance an interested party and having duplicate statements and confirmations
 sent to the third party scanning service Vanguard uses, called "Earth Class Mail"
 at this address: Vanguard, c/o TerraNua, 9450 SW Gemini Drive #37880, Beaverton, OR, 97008-7105.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ If
 the firm where your Covered Account is held is not able to send statements and daily transaction
 confirmations (electronic or paper) to Vanguard, you are required to scan and upload copies
 into the Trading Documents folder in MCO immediately after you receive them, unless you receive
 an exemption from this requirement from Compliance. You must ensure the documents you upload
 clearly show the firm/institution at which the account is held, the account number or ID,
 the account owner, and the account type.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· If
 Compliance does not receive the information automatically via a file feed, you will receive
 email notifications on a calendar quarterly basis to complete a Quarterly Securities Transaction
 Report and thereby disclose Covered Accounts and Reportable Securities, via MCO. You must
 complete and submit that assignment within 30 calendar days; the failure to do so may be
 considered a violation of this policy.

· On
 an annual basis (usually in January or February), you will receive an assignment from Compliance
 in which you must certify, among other things, that all Covered Accounts and Reportable Securities
 are recorded accurately in MCO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>3. Additional notes related to disclosures under this policy:</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· For
 clarity, you do not need to disclose an account or submit transaction confirmations or statements
 if the account does not have the ability to hold Securities (for example, a traditional checking,
 savings, or deposit account with a bank, credit union, or building society for holding cash
 would not need to be disclosed).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· As
 stated above, U.S. crew and contingent workers who are Associated Persons are also required
 to comply with and are subject to the FINRA Licensing Policy and Securities Account Reporting
 Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The
 Compliance Department will keep personal trading information confidential, but please note
 that such information may be accessible to authorized personnel within Compliance and may
 be reported to or summarized for senior management, HR, or the OGC for investigative purposes.
 Applicable records may also be provided to internal or external auditors and/or to any regulator
 if required. All ex-U.S. crew and contingent workers are required to sign a data consent
 / data privacy notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Please
 note that crew and contingent workers in Australia are required to disclose all transactions
 in VIA funds in MCO in the same manner as is required for Reportable Securities.

**Subsection 2-D – Investment and Trading Restrictions** 

This Subsection 2-D contains three segments:

**Segment 2-D-1** applies to all Access Person designations.

**Segment 2-D-2** has terms and requirements that differ based on your Access Person designation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o **Segment 2-D-2(a):** <u>Advisor</u> Access Person requirements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o **Segment 2-D-2(b):** <u>Fund</u> Access Person requirements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o **Segment 2-D-2(c):** <u>Investment</u> Access Person requirements

**Segment 2-D-3** explains how to seek and abide by **preclearance requirements**, if applicable to your activity.

**<u>Segment 2-D-1: Rules and Limitations applicable to all Access Person designations</u>**

The terms of this Segment 2-D-1 apply to all Access Person designations.

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&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *<u>General Obligations</u>* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i)** **Comply with the law:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) You
 must comply with all applicable securities-related rules and laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) You
 may not engage in conduct that is deceitful, fraudulent, or manipulative, or that involves
 false or misleading statements, in connection with the purchase or sale of a Security by
 a Vanguard Fund or Vanguard Client account or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) You
 may not intentionally, recklessly, or negligently circulate false information or rumors that
 may affect the securities markets or may be perceived as market manipulation.

**ii)** **Use of Information:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) You
 may not take personal advantage of knowledge of recent, impending, or planned Securities
 activities of the Vanguard Funds or their investment advisors or any Vanguard Client. You
 are prohibited from purchasing or selling—directly or indirectly—any Security
 or Related Security when you know that the Security is being purchased or sold, or considered
 for purchase or sale, by a Vanguard Fund (with the exception of an index fund) or by a Vanguard
 Client.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) You
 are subject to and must comply with the Insider Trading Policy and/or any similar policy
 of the Vanguard affiliate or region for which you work. Each of these policies is considered
 an integral part of your obligations under this policy. Each policy prohibits you from buying
 or selling any Security while in possession of material, nonpublic information about the
 issuer of the Security. The policies also prohibit you from communicating any nonpublic information
 about any Security or issuer of Securities to third parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) You
 must comply with the Confidential Information Policy, including that you may not share information
 with any third party about any planned, upcoming, or recently executed trading activity by
 any Vanguard Fund or Vanguard Client unless such information is publicly available through
 no action by you.

**iii)** **Fund policies and excessive trading:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) When
 purchasing, exchanging, or redeeming shares of a Vanguard Fund, you must adhere to the policies
 and standards set forth in the fund's prospectus, or offering document, including policies
 on market-timing and frequent trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Excessive
 trading in Covered Accounts is strongly discouraged. The Compliance Department reserves the
 right to monitor trading across all of your Covered Accounts, and may conduct scrutiny of
 any trades in your Covered Accounts where such trading may appear excessive in nature (including,
 but not limited to, if the number of trades is so frequent as to potentially impact your
 ability to carry out your assigned responsibilities or the trades involve positions that
 are disproportionate to your net assets). If Compliance in its sole discretion determines
 you have engaged in excessive trading, then Compliance may limit the number of trades allowed
 in your Covered Accounts during a given period. This Section 2-D-1(a)(iii)(2) does not apply
 to transactions in an Approved Managed Account.

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**iv)** **Beneficial ownership and discretion:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 terms and restrictions of this policy apply to all Securities in which you have acquired
 or will acquire Beneficial Ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) You
 must comply with these investment and trading restrictions with respect to any account you
 own as well as any account over which you have Investment Discretion or in which you have
 the authority to transact.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**v)** **No circumvention** – You are not permitted to assist,
 aid, or enable any other person in doing anything that you are prohibited from doing under
 this policy.

**vi)** **Waivers:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 Chief Compliance Officer may grant exceptions to this policy, including preclearance, other
 trading restrictions, and certain reporting requirements on a case-by-case basis if it is
 determined that (1) the proposed conduct involves no opportunity for abuse, (2) the proposed
 conduct does not conflict with Vanguard's interests, and (3) not granting an exception
 would result in an unfair or unjust outcome.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The
 Chief Compliance Officer may waive the applicability of this policy for a contingent worker
 if the policy's requirements are covered through the applicable service provider's
 contract with Vanguard.

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* *<u>Rules regarding specific investments or investment types:</u>* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i)** **Use of derivatives:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) You
 and your Household or Family Members may not use a derivative to avoid or circumvent a rule
 or requirement set forth in this policy. If something is prohibited by these rules, then
 it is also against these rules to effectively accomplish the same thing by using a derivative.
 This includes futures, options, and other types of derivatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) You
 and your Household or Family Members are permitted to trade futures or options on commodities.

**ii)** **IPOs and ICOs:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) You
 and your Household or Family Members are prohibited from acquiring Securities in an Initial
 Public Offering (IPO) or Secondary Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) You
 and your Household or Family Members are prohibited from participating in an Initial Coin
 Offering (ICO).

**iii)** **Private Placements:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) You
 and your Household or Family Members are not permitted to invest in securities offered to
 potential investors in a Private Placement or other limited investment offering without first
 obtaining preclearance from Compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) You
 must provide documentation describing the investment (e.g., offering memorandum, subscription
 documents, etc.) so as to enable Compliance to conduct a thorough review of the investment.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Approval
 by Compliance may be granted or denied after a review of the facts and circumstances, including
 whether:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· An
 investment in the securities is likely to result in future conflicts with Vanguard Client
 accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· You
 are being offered the opportunity due to your employment at, or association with, Vanguard.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) If
 you or your Household or Family Members receive approval to purchase Securities in a Private
 Placement, you must immediately inform Compliance if that Security goes to public offer or
 is pending listing on an exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) To
 initiate the process for obtaining preclearance of a Private Placement, complete the Outside
 Business Activity request form (the form for U.S. crew is in LARS, and for ex-U.S. crew
 is in MCO).

**iv) SPACs – You and your Household or Family Members are prohibited from acquiring a SPAC at any stage of its lifecycle (i.e., pre-IPO, IPO, pre-merger, post-merger).** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v) Short-Selling – You are prohibited from selling short any Security that you do not own or from otherwise engaging in short-selling activities.

**vi) Limit Orders – Same-day limit orders are permitted; however, good 'til cancelled orders (such as limit orders that stay open over the course of multiple trading days until a security reaches a specified market price) are not permitted.**

**vii) Digital Currencies and Related Investments – Refer to the Trading and Reporting Requirements for Digital Currency Investments and Activities for details on which digital currency account and product types are permitted, and what must be disclosed, under this policy.**

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* *<u>Short term trading in a Vanguard Fund (other than Vanguard ETFs):</u>* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) Compliance may monitor trading in Vanguard Funds, other than Vanguard ETFs, and will review situations where Vanguard Fund shares are redeemed within 30 calendar days of purchase (a "short-term trade"). You may be required to relinquish to Vanguard any profit made on a short-term trade and will be subject to disciplinary action if Compliance determines the short-term trade was detrimental to a Vanguard Fund or a Vanguard Client or that there is a history of frequent trading by you or your Household or Family Members. For purposes of this paragraph:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A
 redemption includes a redemption by any means, including an exchange out of a Vanguard Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) This
 policy does not cover purchases and redemptions/sales (i) into or out of Vanguard money market
 funds, Vanguard short-term bond funds, or (ii) through an Automatic Investment Program.

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**ii) Nothing in this section is intended to replace, nullify, or modify any requirements imposed by a Vanguard Fund.**

**<u>Segment 2-D-2: Specific Limitations and Prohibitions that Apply Based on Access Person Designation</u>**

The terms and requirements of ***this Segment 2-D-2 are in addition to the terms and requirement of Segment 2-D-1***, and you must comply with the portions of this Segment 2-D-2 that apply to your Access Person designation. Note, an Access Person designation can apply to crew members or contingent workers.

<u>Segment 2-D-2(a): Advisor Access Person requirements</u>

The following terms and requirements apply to <u>Advisor</u> Access Persons only and are in addition to the terms and requirements of Segment 2-D-1:

---

| | |
|:---|:---|
| Securities transactions for which you must obtain preclearance (meaning, approval from Compliance before transacting) | &nbsp;&nbsp;**None**. You are <u>not</u> required to obtain preclearance of any Covered Securities transactions by you or your Household or Family Members, except Private Placements as described above. |
| Prohibited Securities transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to Segment 2-D-1, you are subject to the following restrictions with respect to any transaction in which you will acquire any direct or indirect Beneficial Ownership:<br>&nbsp;&nbsp;&nbsp;&nbsp;· **Short-Term Trading.** You are prohibited from purchasing and then selling any Covered Security at a profit, as well as selling and then repurchasing a Covered Security at a lower price, within 60 calendar days. A last-in/first-out accounting methodology will be applied to a series of Security purchases when applying this rule. (Note, as stated, this is based on last-in/first-out accounting regardless of how you placed the trade or plan to report it for tax purposes.) If you realize profits on short-term trades, you will be required to relinquish the profits to Vanguard (exclusive of commissions). In addition, the trade will be recorded as a violation of this policy. *For example: you would not be permitted to sell a Covered Security at $12 that you purchased within the prior 60 days for $10. Similarly, you would not be permitted to purchase a Covered Security at $10 that you had sold within the prior 60 days for $12.*<br>&nbsp;&nbsp;&nbsp;&nbsp;· **Short-term trading on options.** You may hold options on a Covered Security until you exercise the options or the options expire. However, you may not otherwise close any open positions within 60 calendar days. If you realize profits on such short-term trades, you must relinquish such profits to Vanguard (exclusive of commissions). In addition, the trade will be recorded as a violation of this policy. Note: These types of transactions can have unintended consequences. |

---

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For example, your call option could be assigned, causing the underlying Security to be called away within sixty (60) calendar days following the purchase of the Covered Security. <br>   <u>Visit the Appendix C for a table summarizing the trading and reporting requirements for Advisor Access Persons.</u>

<u>Segment 2-D-2(b): Fund Access Person requirements</u> 

The following terms and requirements apply to <u>Fund</u> Access Persons only and are in addition to the terms and requirements of Segment 2-D-1:

---

| | |
|:---|:---|
| Securities transactions for which you must obtain preclearance (meaning, approval from Compliance before transacting) | &nbsp;&nbsp;**Yes**, you must obtain, for yourself and on behalf of your Household or Family Members, **preclearance for any transaction of a Covered Security by you or any Household or Family Member**.<br>See Segment 2-D-3, below, for instructions on how to seek preclearance. |
| Securities transactions that do <u>not</u> require preclearance | &nbsp;&nbsp;&nbsp;You are not required to obtain preclearance for the following:<br>· Purchases or sales of Vanguard Funds.<br> · Purchases or sales where the person requesting preclearance has no direct or indirect influence or control over the account (e.g., you have a trust in your name but you are not the trustee who places the transaction, provided you have granted Investment Discretion to the trustee and there has been no prior communication between you and the trustee regarding the transaction).<br> · Corporate actions in Covered Securities such as stock dividends, stock splits, mergers, consolidations, spin-offs, or other similar corporate reorganizations or distributions.<br> · Purchases or sales made as a part of an Automatic Investment Program.<br> · Purchases effected upon the exercise of Rights which were issued by an issuer pro rata to all holders of a class of its Securities, to the extent such Rights were acquired from such issuer.<br> · Acquisitions of Covered Securities through gifts or bequests.<br>Visit the Appendix D for a table summarizing the trading and reporting requirements for Fund Access Persons. |
| Is preclearance required for trades in an Approved Managed Account? | &nbsp;&nbsp;No, you are not required to seek preclearance of a transaction in a Covered Security in an Approved Managed Account so long as you have no prior communication with the portfolio manager of that account in connection with that transaction.<br>Note, Vanguard PAS accounts generally do <u>not</u> qualify as Approved Managed Accounts because PAS account owners generally retain some level of investment discretion. Further, any |

---

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---

| | |
|:---|:---|
| | &nbsp;&nbsp;&nbsp;trades of Covered Securities in a PAS account must be precleared under this policy. |
| "Blackout period" restrictions that may apply to personal trading in Covered Securities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You may be subject to certain restrictions if you purchase or sell a Covered Security within seven (7) days before or after a Vanguard Fund purchases or sells the same Covered Security or a Related Security (the "blackout period").<br>Purchasing or selling before a Vanguard Fund:<br>&nbsp;&nbsp;&nbsp;&nbsp;· If you <u>purchase</u> a Covered Security within seven days before a Vanguard Fund purchases the same Covered Security or a Related Security, you may be required to hold the Covered Security for 6 months before being permitted to sell the Covered Security for a profit.<br> &nbsp;&nbsp;&nbsp;&nbsp;· If you <u>sell</u> a Covered Security within seven days before a Vanguard Fund sells the same Covered Security or a Related Security, you may be required to relinquish to Vanguard any profits earned from your sale of the Covered Security (exclusive of commissions), where profits are calculated based on the price that the Vanguard Fund received for selling the Covered Security or a Related Security. *Note: Compliance will review your sale to determine if the relinquishment is required. This decision will be based on several factors, such as your role, access to fund trades, and the Covered Security sold.*<br>Purchasing or selling after a Vanguard Fund:<br>&nbsp;&nbsp;&nbsp;&nbsp;· In general, you will not receive preclearance to <u>purchase</u> a Covered Security within seven days after a Vanguard Fund trades the same Covered Security or a Related Security. If you execute the transaction without receiving preclearance, you will have violated this policy and must immediately sell the Covered Security and relinquish all profits received from the sale to Vanguard (exclusive of commissions).<br> &nbsp;&nbsp;&nbsp;&nbsp;· In general, you will not receive preclearance to <u>sell</u> a Covered Security within seven days after a Vanguard Fund trades the same Covered Security or a Related Security. If you execute the transaction without receiving preclearance, you will have violated this policy and must relinquish to Vanguard the difference (exclusive of commissions) between the sale price you received and the Vanguard Fund's sale price (as long as your sales price is higher), multiplied by the number of shares you sold.<br>In addition to these restrictions, local law may dictate the extent to which any gains must be relinquished.<br>Compliance may exempt from these restrictions certain trades during blackout periods that coincide with trading by certain Vanguard Funds (e.g., index funds). |

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---

| | |
|:---|:---|
| | &nbsp;&nbsp;&nbsp;The blackout period restrictions set forth above **will not** apply to a Fund Access Person's <u>sale</u> of stock of any issuer which has a market capitalization that exceeds US$5 billion (or local currency equivalent), provided that the total value of any sales of the Security by the Fund Access Person do not exceed US$10,000 (or local currency equivalent) in any 30-day rolling period. Sales of securities of issuers with market capitalizations below US$5 billion, or that exceed US$10,000 in any 30-day rolling period, will continue to be subject to the blackout periods unless Compliance grants a waiver.<br>Compliance **may** waive the blackout period as it applies to the sale of a Covered Security if the Chief Compliance Officer determines its application creates a significant hardship to you (e.g., you need cash for a home purchase or to cover a major medical expense) and, in the opinion of the Chief Compliance Officer, satisfies the requirements for a waiver in the Waivers paragraph of Segment 2-D-1, above. Request and complete a Hardship Waiver Request Form.  |
| Prohibited Securities transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to Segment 2-D-1, you are subject to the following restrictions with respect to any transaction in which you will acquire any direct or indirect Beneficial Ownership:<br>&nbsp;&nbsp;&nbsp;&nbsp;· **Futures and Options.** You are prohibited from entering into, acquiring, or selling any Futures contract (including single stock futures) or any Option on any Security (including Options on ETFs, Digital Utility Tokens, Digital Security Tokens, and Digital Currencies).<br>&nbsp;&nbsp;&nbsp;&nbsp;· **Short-Term Trading.** You are prohibited from purchasing and then selling any Covered Security at a profit, as well as selling and then repurchasing a Covered Security at a lower price, within 60 calendar days. A last-in/first-out accounting methodology will be applied to a series of Security purchases when applying this rule. (Note, as stated, this is based on last-in/first-out accounting regardless of how you placed the trade or plan to report it for tax purposes.) If you realize profits on short-term trades, you will be required to relinquish the profits to Vanguard (exclusive of commissions). In addition, the trade will be recorded as a violation of this policy. *Example: You are not permitted to sell a security at $12 that you purchased within the prior 60 days for $10. Similarly, you are not permitted to purchase a security at $10 that you sold within the prior 60 days for $12*.<br>&nbsp;&nbsp;&nbsp;&nbsp;· **Spread Bets.** You are prohibited from participating in Spread Betting on Securities, indexes, interest rates, currencies, or commodities. |

---

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<u>Segment 2-D-2(c): Investment Access Person requirements</u> 

The following terms and requirements apply to <u>Investment</u> Access Persons only and are in addition to the terms and requirements of Segment 2-D-1:

---

| | |
|:---|:---|
| Securities transactions for which you must obtain preclearance (meaning, approval from Compliance before transacting) | &nbsp;&nbsp; **Yes**, you must obtain, for yourself and on behalf of your Household or Family Members, **preclearance for any transaction of (i) a Covered Security, or (ii) a Vanguard ETF, by you or any Household or Family Member**.<br>See Segment 2-D-3, below, for instructions on how to seek preclearance.<br>|
| Securities transactions that do <u>not</u> require preclearance | &nbsp;&nbsp; You are not required to obtain preclearance for the following:<br>&nbsp;&nbsp;&nbsp;&nbsp;· Purchases or sales of Vanguard Funds. (*Reminder: The purchase or sale of Vanguard ETFs <u>does</u> require preclearance.)*<br> &nbsp;&nbsp;&nbsp;&nbsp;· Purchases or sales where the person requesting preclearance has no direct or indirect influence or control over the Covered Security (e.g., you have a trust in your name but you are not the trustee who places the transaction, provided you have granted Investment Discretion to the trustee and there has been no prior communication between you and the trustee regarding the transaction).<br> &nbsp;&nbsp;&nbsp;&nbsp;· Corporate actions in Covered Securities such as stock dividends, stock splits, mergers, consolidations, spin-offs, or other similar corporate reorganizations or distributions.<br> &nbsp;&nbsp;&nbsp;&nbsp;· Purchases or sales made as a part of an Automatic Investment Program.<br> &nbsp;&nbsp;&nbsp;&nbsp;· Purchases effected upon the exercise of Rights which were issued by an issuer pro rata to all holders of a class of its Securities, to the extent such Rights were acquired from such issuer.<br> &nbsp;&nbsp;&nbsp;&nbsp;· Acquisitions of Covered Securities through gifts or bequests.<br>Visit the Appendix for a table summarizing the trading and reporting requirements for Investment Access Persons. <br>|
| Is preclearance required for trades in an Approved Managed Account? | &nbsp;&nbsp; No, you are not required to seek preclearance of a transaction in a Covered Security in an Approved Managed Account so long as you have no prior communication with the portfolio manager of that account in connection with that transaction.<br>Note, Vanguard PAS accounts generally do <u>not</u> qualify as Approved Managed Accounts because PAS account owners generally retain some level of investment discretion. Further, any trades of Covered Securities (but not trades of Vanguard ETFs) in a PAS account must be precleared under this policy. <br>|

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---

| | |
|:---|:---|
| "Blackout period" restrictions that may apply to personal trading in Covered Securities | &nbsp;&nbsp; You may be subject to certain restrictions if you purchase or sell a Covered Security within seven (7) days before or after a Vanguard Fund purchases or sells the same Covered Security or a Related Security (the "blackout period").<br>Purchasing or selling before a Vanguard Fund:<br>&nbsp;&nbsp;&nbsp;&nbsp;· If you <u>purchase</u> a Covered Security within seven days before a Vanguard Fund purchases the same Covered Security or a Related Security, you may be required to hold the Covered Security for 6 months before being permitted to sell the Covered Security for a profit.<br> &nbsp;&nbsp;&nbsp;&nbsp;· If you <u>sell</u> a Covered Security within seven days before a Vanguard Fund sells the same Covered Security or a Related Security, you may be required to relinquish to Vanguard any profits earned from your sale of the Covered Security (exclusive of commissions), where profits are calculated based on the price that the Vanguard Fund received for selling the Covered Security or a Related Security.<br>Purchasing or selling after a Vanguard Fund:<br>&nbsp;&nbsp;&nbsp;&nbsp;· In general, you will not receive preclearance to <u>purchase</u> a Covered Security within seven days after a Vanguard Fund trades the same Covered Security or a Related Security. If you execute the transaction without receiving preclearance, you will have violated this policy and must immediately sell the Covered Security and relinquish all profits received from the sale to Vanguard (exclusive of commissions).<br> &nbsp;&nbsp;&nbsp;&nbsp;· In general, you will not receive preclearance to <u>sell</u> a Covered Security within seven days after a Vanguard Fund trades the same Covered Security or a Related Security. If you execute the transaction without receiving preclearance, you will have violated this policy and must relinquish to Vanguard the difference (exclusive of commissions) between the sale price you received and the Vanguard Fund's sale price (as long as your sales price is higher), multiplied by the number of shares you sold.<br>In addition to these restrictions, local law may dictate the extent to which any gains must be relinquished.<br>Compliance may exempt from these restrictions certain trades during blackout periods that coincide with trading by certain Vanguard Funds (e.g., index funds).<br>Compliance **may** waive the blackout period as it applies to the sale of a Covered Security if the Chief Compliance Officer determines its application creates a significant hardship to you (e.g., you need cash for a home purchase or to cover a major medical expense) and, in the opinion of the Chief Compliance Officer, satisfies the requirements for a waiver in the Waivers |

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| | |
|:---|:---|
| | &nbsp;&nbsp;paragraph of Segment D-1, above. Request and complete a Hardship Waiver Request Form.<br>|
| Prohibited Securities transactions | &nbsp;&nbsp; In addition to Segment 2-D-1, you are subject to the following restrictions with respect to any transaction in which you will acquire any direct or indirect Beneficial Ownership:<br>**Futures and Options.** You are prohibited from entering into, acquiring, or selling any Futures contract (including single stock futures) or any Option on any Security (including Options on ETFs, Digital Utility Tokens, Digital Security Tokens, and Digital Currencies).<br>**Short-Term Trading.** You are prohibited from purchasing and then selling any Covered Security or a Vanguard ETF at a profit, as well as selling and then repurchasing a Covered Security or a Vanguard ETF at a lower price, within 60 calendar days. A last-in/first-out accounting methodology will be applied to a series of Security purchases when applying this rule. (Note, as stated, this is based on last-in/first-out accounting regardless of how you placed the trade or plan to report it for tax purposes.) If you realize profits on short-term trades, you will be required to relinquish the profits to Vanguard (exclusive of commissions). In addition, the trade will be recorded as a violation of this policy. *Example: You are not permitted to sell a security at $12 that you purchased within the prior 60 days for $10. Similarly, you are not permitted to purchase a security at $10 that you sold within the prior 60 days for $12*.<br>**Spread Bets.** You are prohibited from participating in Spread Betting on Securities, indexes, interest rates, currencies, or commodities.<br>|

---

**<u>Segment 2-D-3: How to Seek and Abide by Preclearance Requirements</u>**

If you are required to obtain preclearance of any trade or transaction under this policy, then the terms of this Segment 2-D-3 apply to that trade or transaction.

**Preclearance representations.**

By seeking preclearance, you will be deemed to be advising and representing to Compliance that you:

&nbsp;&nbsp;&nbsp;&nbsp;· Do not possess any material, nonpublic information relating
to the security.

&nbsp;&nbsp;&nbsp;&nbsp;· Do not use knowledge of any proposed trade or investment
program relating to the Vanguard Funds for personal benefit.

&nbsp;&nbsp;&nbsp;&nbsp;· Believe the proposed trade is available to any market participant
on the same terms.

**How do I obtain preclearance?**

Preclearance must be obtained via the "Personal Trade Pre-Clearance" path in MCO. Once the required information is submitted, your preclearance request will usually be approved or denied

Page **20** of **37**

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immediately. Transactions in Covered Securities (including, for Investment Access Persons, transactions in Vanguard ETFs) may not be executed before you receive approval.

As a reminder, preclearance of Private Placements is addressed in Segment 2-D-1 of this policy, above.

Attempting to gain approval after the transaction has occurred is not permitted. Completing a personal trade before receiving approval or after the approval window expires constitutes a violation of this policy. See Section 3 of this policy for more information regarding the sanctions that may be imposed as a result of a violation.

**How long is my preclearance approval valid?**

**In the U.S.:** Preclearance approval will expire at the end of the trading day on which it is issued (e.g., if you receive approval for a trade on Monday, it is effective until the market closes on that Monday). Preclearance for permitted limit orders is good for transactions on the same day that approval is granted only. If you receive approval for a limit order, it must be executed or expire at the close of regular trading on the same business day for which approval was granted. If you wish to execute the limit order after the close of regular trading on the day you received approval, you must submit a new preclearance request for the day you wish to execute the trade.

**Outside the U.S.:** If you receive approval, transactions must be executed no later than the end of trading on the next business day after the preclearance is granted. If the transaction is not placed within that time, you must submit a new request for approval before placing the transaction. If you preclear a limit order, that limit order must either be executed or expire at the end of the next business day. If you want to execute the order after the next business day period expires, you must resubmit your preclearance request.

**Section 3 – Penalties and Sanctions** 

**How we enforce this policy** 

The Compliance Department regularly reviews the forms, reports, and other information it receives. If these reviews turn up information that is incomplete, questionable, or potentially in violation of this policy, the Compliance Department will investigate the matter and may contact you. If it is determined that you or any of your Household or Family Members have violated this policy, the Compliance Department or another appropriate party may take action.

**Violations** 

If the Compliance Department determines that there has been a violation, you may be subject to penalties and sanctions as described in this policy and otherwise as described in the Disciplinary Action Policy and, for crew and contingent workers in Australia, the Managing Misconduct Policy. The Compliance Department will generally utilize a rolling 24-month period when evaluating whether and how to sanction a violation. Any violation of this policy may result in disciplinary action up to and including termination of employment.

Vanguard takes all policy violations seriously and at times provides the Vanguard Funds' board with a summary of actions taken in response to material violations of this policy and other policies. You should be aware that other securities laws and regulations not addressed by this policy may also apply to you, depending upon your role at Vanguard.

Page **21** of **37**

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**Exceptions** 

The Chief Compliance Officer or designee retains the discretion to interpret and grant exceptions to this policy and to decide how the rules apply to any given situation for the purpose of protecting the funds and being consistent with the general principles of this policy and the *Code of Ethical Conduct*.

In cases where exceptions to this policy are noted and you may qualify for them, you need to get prior written approval from the Compliance Department. If you believe that you have a situation that warrants an exception that is not discussed in this policy, you may submit a written request to the Compliance Department, which will consider your request and notify you of the outcome.

**Section 4 – Defined Terms** 

The following definitions apply throughout this policy:

---

| | |
|:---|:---|
| Access Person | &nbsp;&nbsp;Any person designated as an Investment Access Person, Fund Access Person, or Advisor Access Person. |
| Approved Managed Account | &nbsp;&nbsp;An investment account where (i) the account is owned by an investor and overseen by a hired professional money manager, (ii) the investor has no trading discretion on the account, and (iii) Compliance has approved it as an Approved Managed Account. |
| Associated Person | &nbsp;&nbsp;Any person who conducts securities business on behalf of Vanguard Marketing Corporation (VMC). This includes all FINRA-licensed contingent workers, as well as non-licensed contingent workers who perform certain operational and administrative functions for VMC. |
| Automatic Investment Program | &nbsp;&nbsp;A program in which regular periodic purchases (or withdrawals) are made automatically in (or from) Investment accounts, according to a predetermined schedule and allocation. An Automatic Investment Program includes a dividend reinvestment plan. |
| Bankers' Acceptance | &nbsp;&nbsp;A time draft drawn on a commercial bank by a borrower usually in connection with an international commercial transaction. Bankers' Acceptances are usually guaranteed by the bank. |
| Beneficial Ownership | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The opportunity to directly or indirectly—through any contract, arrangement, understanding, relationship, or otherwise—share at any time in any economic interest or profit derived from an ownership of or a transaction in a Security. For clarity, what you are deemed to have Beneficial Ownership of includes the following:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Any Security owned individually by you.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Any Security owned by a Household or Family Member.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Any Security owned in joint tenancy, as tenants in common, or in other joint ownership arrangements.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Any Security in which a Household or Family Member has Beneficial Ownership if the Security is held in a Covered Account over which you have decision making authority (for example, you act as a trustee, executor, or guardian or you provide Investment advice).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Your interest as a general partner or manager/member in Securities held by a general or limited partnership or limited liability company.<br>|

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Page **22** of **37**

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---

| | |
|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Your interest as a member of an Investment club or an organization that is formed for the purpose of investing in a pool of monies or Securities.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · Your ownership of Securities as a trustee of a trust in which either you or a Household or Family Member has a vested interest in the principal or income of the trust or your ownership of a vested interest in a trust. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Securities owned by a corporation which is directly or indirectly controlled by, or under common control with, such person. |
| Bond | &nbsp;&nbsp;A debt obligation issued by a corporation, government, or government agency that entails repayment of the principal amount of the obligation at a future date, usually with interest. |
| Certificate | &nbsp;&nbsp;In Germany, a right or obligation issued by a bank where the payout profile or benefit of ownership depends upon or is tied to the performance of an agreed-upon underlying asset or security. |
| Certificate of Deposit (CD) | &nbsp;&nbsp;An insured, interest-bearing deposit at a bank that requires the depositor to keep the money invested for a specified period. |
| Commercial Paper | &nbsp;&nbsp;A promissory note issued by a large company in need of short-term financing. |
| Covered Account | &nbsp;&nbsp;Any Vanguard Fund account, any brokerage account, and any other type of account that holds, or is capable of holding, Reportable Securities. |
| Covered Security | &nbsp;&nbsp; Any Security (including through an IPO), but <u>not</u> including any:<br>&nbsp;&nbsp;&nbsp;&nbsp;· Direct Obligations of a Government; <br> &nbsp;&nbsp;&nbsp;&nbsp;· Bankers' Acceptances, Certificates of Deposit (CD), Commercial Paper, and High-Quality Short-Term Debt Instruments, including Repurchase Agreements; <br> &nbsp;&nbsp;&nbsp;&nbsp;· Shares issued by Open-End Funds (although for European subsidiaries, this is limited to UCITS schemes, a non-UCITS retail scheme, or another fund subject to supervision under the law of an European Economic Area (EEA) state which is an index fund or which requires an equivalent level of risk spreading in their assets);<br> &nbsp;&nbsp;&nbsp;&nbsp;· Life policies; <br> &nbsp;&nbsp;&nbsp;&nbsp;· ETFs;<br> &nbsp;&nbsp;&nbsp;&nbsp;· ETNs; or<br> &nbsp;&nbsp;&nbsp;&nbsp;· Digital Currencies. |
| Debenture | &nbsp;&nbsp;An unsecured debt obligation backed only by the general credit of the borrower. |
| Digital Currency | &nbsp;&nbsp;A digital asset that: (1) serves solely as a store of value, a medium of exchange, or a unit of account; (2) is not issued or guaranteed by any jurisdiction, central bank, or public authority; (3) relies on algorithmic techniques to regulate the generation of new units of the digital asset; and (4) has transactions involving the digital asset recorded on a decentralized network or distributed ledger (e.g., blockchain). Common examples of a Digital Currency are Bitcoin and Ether. A Digital Currency is distinguishable from a Digital Security Token or a Digital Utility Token. |
| Digital Security Token | &nbsp;&nbsp; Any digital asset that is not a Digital Currency or Digital Utility Token. In general, a Digital Security Token may: (1) derive its value primarily from, or represent an interest in, a separate asset or pool of assets; or (2) represent an interest in an enterprise or venture. A Digital Security Token may provide owners or holders with voting rights, rights to distributions, or other rights associated with ownership. Digital Security |

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Page **23** of **37**

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---

| | |
|:---|:---|
| | &nbsp;&nbsp;Tokens are generally held for speculative investment purposes and not to provide holders with access to a particular network, product, or service. Digital Security Tokens, like other investments, are generally not used as a medium of exchange.<br> Note, whether or not an asset is a Digital Security Token depends on specific facts and circumstances. Merely referring to an asset as a Digital Currency or Digital Utility Token does not prevent the asset from being a Digital Security Token. Furthermore, an asset may be a Digital Security Token even if it has some purported utility. Please contact Compliance if you have any questions regarding whether an asset is a Digital Security Token. |
| Digital Utility Token | &nbsp;&nbsp;A digital asset that (1) provides access to a particular network, product, or service; (2) derives its value primarily from providing access to a particular network, product, or service; and (3) does not function as a Digital Currency or Digital Security Token. |
| Direct Obligation of a Government | &nbsp;&nbsp;A debt that is backed by the full taxing power of any government. These Securities are generally considered to be of the very highest quality. |
| ETF or Exchange-Traded Fund | &nbsp;&nbsp;An investment with characteristics of both mutual funds and individual stocks. Many ETFs track an index, a commodity, or a basket of assets. Unlike mutual funds, ETFs can be traded throughout the day. ETFs often have lower expense ratios but must be purchased and sold through a broker, which means you may incur commissions. |
| ETN or Exchange-Traded Note | &nbsp;&nbsp;A senior, unsecured, unsubordinated debt Security issued by a financial institution, whose returns are based on the performance of an underlying index and backed only by the credit of the issuer. ETNs have a maturity date, but typically pay no periodic coupon interest and offer no principal protection. At maturity an ETN investor receives a cash payment linked to the performance of the corresponding index, less fees. |
| Futures / Futures Contract | &nbsp;&nbsp;A contract to buy or sell specific amounts of a commodity or financial instrument (such as grain, a currency, including foreign currencies and Digital Currencies (e.g., Bitcoin), a Digital Security Token, or an index) for an agreed-upon price at a certain time in the future. Sometimes the arrangements in a contract prescribe that settlements are made through cash payments, rather than the delivery of physical goods or Securities; this is called Contract for Difference. |
| High-Quality Short-Term Debt Instrument | &nbsp;&nbsp;An instrument that has a maturity at issuance of less than 366 days and is rated in one of the two highest ratings categories by a nationally recognized statistical rating organization, or an instrument that is unrated but determined by Vanguard to be of comparable quality. |
| Household or Family Member (U.S., Australia, Canada, China, Hong Kong, and Mexico) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For the U.S., Australia, Canada, China, Hong Kong, and Mexico regions, the term "Household or Family Member" includes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Your spouse or domestic partner (an unrelated adult with whom you share your home and contribute to each other's support);<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any child of yours or of your spouse or domestic partner, provided that the child resides in the same household as or is financially dependent upon you; or<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Any other individual over whose accounts you have control (e.g., agent authority (full or limited), trustee, power of attorney authority) and to whose financial support you materially contribute.<br>|

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Page **24** of **37**

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---

| | |
|:---|:---|
| | &nbsp;&nbsp;For purposes of parts (a) and (b) of this definition, those persons may not be deemed Household or Family Members under this policy if you demonstrate, to the satisfaction of the Compliance Department, that you derive no economic benefit from, and exercise no control over, that person's accounts. |
| Household or Family Member (Europe) | &nbsp;&nbsp;For Europe crew members, the term "Household or Family Member" includes your spouse, domestic partner (an unrelated adult with whom you share your home and contribute to each other's support), and minor children, as well as relatives whether by blood, adoption, or marriage (e.g., children, grandchildren, siblings, parents, parents-in-law, stepchildren) residing in the same household for at least one year prior to the date of the personal transaction. |
| Initial Coin Offering (ICO) | &nbsp;&nbsp;An initial offer or sale of Digital Currencies or Digital Security Tokens. Note, whether or not an offering is an ICO depends on specific facts and circumstances. Please contact Compliance before participating in an initial offering of a Digital Currency, Digital Security Token, or Digital Utility Token |
| Initial Public Offering (IPO) | &nbsp;&nbsp;A corporation's first offering of common stock to the public. |
| Investment Contract | &nbsp;&nbsp;Any contract, transaction, or scheme whereby a person invests money in a common enterprise and is led to expect profits solely from the efforts of the promoter or third party. |
| Investment Discretion | &nbsp;&nbsp;The authority an individual may exercise, with respect to investment control or trading discretion, on another person's account (e.g., executor, trustee, power of attorney). |
| Non-Access Person | &nbsp;&nbsp;Any person in a role that has not been designated as an Access Person role. |
| Note | &nbsp;&nbsp;A financial security that generally has a longer term than a bill, but a shorter term than a Bond. However, the duration of a note can vary significantly and may not always fall neatly into this categorization. Notes are similar to Bonds in that they are sold at, above, or below face (par) value; make regular interest payments; and have a specified term until maturity. |
| Open-End Fund | &nbsp;&nbsp;A mutual fund that has an unlimited number of shares available for purchase. |
| Option | &nbsp;&nbsp;The right, but not the obligation, to buy (for a call option) or sell (for a put option) a specific amount of a given stock, commodity, currency, including foreign currencies and Digital Currencies (e.g., Bitcoin), index, or debt, at a specified price (the strike price) during a specified period or on one particular date. |
| Private Placement | &nbsp;&nbsp;A Security that is not registered or required to be registered under applicable securities laws. Private Placements are generally sold to a relatively small number of select investors (as opposed to a public issue, in which Securities are made available for sale on the open market) in order to raise capital. Private Placements may include, among others, interests in hedge funds (including limited partnership interests) and shares of private companies. Investors in Private Placements are usually banks, mutual funds, insurance companies, pension funds, hedge funds, and high net worth individuals. Private Placements are typically held or maintained outside of Vanguard. |
| Related Security | &nbsp;&nbsp;Any Security or instrument that provides economic exposure to the same company or entity—provided, however, that equity instruments will |

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| | |
|:---|:---|
| | &nbsp;&nbsp;generally not be considered related to fixed income instruments (other than convertible Bonds) and vice versa. For example, all of the following instruments would be related to the common Stock of Company X: Options, Futures, Rights, and Warrants on Company X common Stock; preferred Stock issued by Company X; and Bonds convertible into Company X common Stock. Similarly, different Bonds issued by Company X would be related to one another. |
| Reportable Security | &nbsp;&nbsp;Any Covered Security, ETF, ETN, or Digital Security Token. |
| Repurchase Agreement | &nbsp;&nbsp;An arrangement by which the seller of an asset agrees, at the time of the sale, to buy back the asset at a specific price and, typically, on a given date (normally the next day). |
| Right | &nbsp;&nbsp;A Security giving stockholders entitlement to purchase new shares issued by the corporation issuer at a predetermined price (normally at a discount to the current market price) in proportion to the number of shares already owned. Rights are issued only for a short period of time, after which they expire. |
| Secondary Offering | &nbsp;&nbsp;The sale of new or closely held shares by a company that has already made an Initial Public Offering. |
| Security | &nbsp;&nbsp;Any Stock, Bond, money market instrument, Note, evidence of indebtedness, Debenture, Warrant, Option, Right, Investment Contract, ETF, ETN, Digital Currency that has been deemed to be a security by the US Securities and Exchange Commission, Certificate, or any other investment or interest commonly known as a Security. |
| SPAC (Special Purpose Acquisition Company) | &nbsp;&nbsp;A shell company or company with no commercial operations that is formed strictly to raise capital through an Initial Public Offering (IPO) for the purpose of acquiring an existing company. |
| Spread Betting | &nbsp;&nbsp;A way of trading that enables you to profit from movements in a wide range of markets from Securities to currencies, including foreign currencies and Digital Currencies, Digital Security Tokens, commodities, and interest rates. Spread betting allows you to trade on whether the price quoted for these financial instruments will go up or down. |
| Stock | &nbsp;&nbsp;A Security that represents part ownership, or equity, in a corporation. Each share of stock is a proportional stake in the corporation's assets and profits, some of which could be paid out as dividends. |
| UCITS (Undertakings for the Collective Investment of Transferable Securities) | &nbsp;&nbsp;A regulatory framework of the European Commission that creates a harmonized regime throughout Europe for the management and sale of mutual funds. UCITS funds can be registered in Europe and sold to investors worldwide using unified regulatory and investor protection requirements. |
| Vanguard Client | &nbsp;&nbsp;The clients of VGI, or any of the International Subsidiaries, and investors in the Vanguard Funds, including the Vanguard Funds themselves. |
| Vanguard Fund | &nbsp;&nbsp;Vanguard mutual funds, Vanguard managed funds, Vanguard UCITS funds, Vanguard ETFs, and any other accounts sponsored or managed by Vanguard. This includes, but is not limited to, separately managed accounts and collective trusts. |
| Warrant | &nbsp;&nbsp;An entitlement to purchase a certain amount of common Stock at a set price (usually higher than the current price) during an extended period of time. Usually issued with a fixed-income security to enhance its marketability, a Warrant can be transferred, traded, or exercised by the holder. |

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Page **26** of **37**

**Policy Compliance** 

Questions regarding this policy may be submitted to Code_of_Ethics@vanguard.com.

Please be aware of and comply with any supplemental policies that may apply to your role, department, or geographic region. Check with your manager for more information.

If you believe you may have breached this policy, you should immediately report it to your manager, notify the policy contact for your region, and work with them to take swift corrective action. Alternatively, you may report concerns regarding this policy via the Anonymous Reporting channel that Vanguard has arranged for your region. You are expected to cooperate with any research or investigation into conduct regarding this policy.

The Compliance Department is the owner of this policy. Any violations or potential violations of this policy may be investigated by the Compliance Department, and if it is determined that there has been a violation, you may be subject to penalties and sanctions as described in the Disciplinary Action Policy and, for crew and contingent workers in Australia, the Managing Misconduct Policy. Any violation of this policy may result in disciplinary action up to and including termination of employment.

Refer to the Policy Disclaimer Statement for more information.

Page **27** of **37**

**Appendix**

**Appendix A**

Am I an Access Person, and if so, which Access Person "designation" applies?

**Appendix B**

What accounts must be disclosed?

**Appendix C**

Trading and Reporting Requirements for Advisor Access Persons

**Appendix D**

Trading and Reporting Requirements for Fund Access Persons

**Appendix E**

Trading and Reporting Requirements for Fund Access Persons

**Appendices Endnotes**

Clarifications and explanations to the content within the appendices

Page **28** of **37**

**APPENDIX A**

Am I an Access Person, and if so, which Access Person "designation" applies?

To determine if you are designated as an Access Person, review your offer letter for specifics. If you are unsure, ask your recruiter to confirm for you which designation you fall under. They can look up your designation by referencing our internal Access Person Code of Conduct policy. Your designation will be one of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Advisor Access

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Fund Access

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Investment Access

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Non-Access (If this is your designation,
this packet does not apply to you.)

Page **29** of **37**

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**APPENDIX B** 

What accounts must be disclosed?

This list provides a snapshot of what accounts you will need to disclose. Come prepared knowing how to access the statements for these accounts. Please note, this is list is subject to change.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Common Account Types** | &nbsp;&nbsp;**Access<br> Person<br> disclosure<br> required?** |
| &nbsp;&nbsp; Employer sponsored retirement plans (plan **doesn't** have the ability to hold Vanguard funds) <br> Examples: 401k, 403b, 457b, Employee Stock Options Plan (ESOP), Employee Stock Purchase Plan (ESPP), and pension plans  | No |
| &nbsp;&nbsp; Employer sponsored retirement plans (plan **does** have the ability to hold Vanguard funds) <br> Examples: 401k, 403b, 457b, Employee Stock Options Plan (ESOP), Employee Stock Purchase Plan (ESPP), and pension plans  | Yes |
| &nbsp;&nbsp;529 Plans (plan **doesn't** have the ability to hold Vanguard funds) | No |
| &nbsp;&nbsp;529 plans (plan **does** have the ability to hold Vanguard funds) | Yes |
| &nbsp;&nbsp;Health Savings Account (plan **doesn't** have the ability to hold Vanguard funds) | No |
| &nbsp;&nbsp;Health Savings Account (plan **does** have the ability to hold Vanguard funds) - Including Vanguard's HSA | Yes |
| &nbsp;&nbsp; Vanguard personal accounts<sup>i</sup> <br> **Examples:** Vanguard Brokerage Accounts, Transfer Agent Accounts (Mutual Fund Only account)  | Yes |
| &nbsp;&nbsp; Outside brokerage accounts (including retirement accounts not listed above)<sup>3</sup> <br> **Please Note:** Accounts that are open but have a $0 balance also must be reported because they still have the ability to hold securities.  | Yes |
| &nbsp;&nbsp;Bank accounts - checking and savings | No |
| &nbsp;&nbsp;Annuities | No |
| &nbsp;&nbsp;Fully managed accounts<sup>ii</sup> | Yes<sup>2</sup> |

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**APPENDIX C**

Trading and Reporting Requirements for Advisor Access Persons

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| | | | |
|:---|:---|:---|:---|
| **Securities and Activities** | **Can I Trade** | **60 Day Hold** | **Reportable<sup>iii</sup>** |
| &nbsp;&nbsp;**American Depository Receipts (ADRs)** | Yes | Yes | Yes |
| &nbsp;&nbsp;**Annuities and Insurance Products** | Yes | No | No |
| &nbsp;&nbsp;**Bankers' Acceptances, Certificates of Deposits, and Commercial Paper** | Yes | No | No |
| &nbsp;&nbsp;**Bonds (municipal and corporate)** | Yes | Yes | Yes |
| &nbsp;&nbsp;**Cash** | No | No | No |
| &nbsp;&nbsp;**Closed-End Funds** | Yes | Yes | Yes |
| &nbsp;&nbsp;**Commodities (ex: futures & options)** | Yes | No | No |
| &nbsp;&nbsp;**Currencies** | Yes | No | No |
| &nbsp;&nbsp;**Debentures** | Yes | Yes | Yes |
| &nbsp;&nbsp;**Digital Currency** | Yes | No | No |
| &nbsp;&nbsp;**Digital Utility Tokens** | Yes | No | Yes |
| &nbsp;&nbsp;**Digital Security Tokens** | Yes | No | Yes |
| &nbsp;&nbsp;**Direct Obligations** | Yes | No | No |
| &nbsp;&nbsp;**Non-Vanguard ETFs and ETNs** | Yes | No | Yes |
| &nbsp;&nbsp;**Evidence of Indebtedness** | Yes | Yes | Yes |
| &nbsp;&nbsp;**Government bonds** | Yes | No | No |
| &nbsp;&nbsp;**High Quality Short Term Debt Instruments** | Yes | No | Yes |
| &nbsp;&nbsp;**Investment Contracts** | Yes | Yes | Yes |
| &nbsp;&nbsp;**IPOs (and ICOs)** | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**Money market instruments (non-Vanguard)** | Yes | No | No |
| &nbsp;&nbsp;**Money market instruments (Vanguard)** | Yes | No | Yes |
| &nbsp;&nbsp;**Open-End funds (non-Vanguard)** | Yes | No | No |
| &nbsp;&nbsp;**Notes** | Yes | Yes | Yes |
| &nbsp;&nbsp;**Options on Covered Securities** | Yes | Yes<sup>iv</sup> | Yes |
| &nbsp;&nbsp;**Private placements (unlisted securities)** | Yes<sup>v</sup> | No | Yes |
| &nbsp;&nbsp;**Rights** | Yes | Yes | Yes |
| &nbsp;&nbsp;**Real Estate Investment Trusts** | Yes | Yes | Yes |
| &nbsp;&nbsp;**Security Futures** | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**Short Positions** | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**SPACs** | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**Stocks** | Yes | Yes | Yes |
| &nbsp;&nbsp;**Unit Investment Trusts** | Yes | Yes | Yes |

---

Page **31** of **37**

![](tm234376d1_coeimg01.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Securities and Activities** | **Can I Trade** | **60 Day Hold** | **Reportable<sup>iii</sup>** |
| &nbsp;&nbsp;**UCITs Funds (non-Vanguard)** | **Yes** | **No** | **No** |
| &nbsp;&nbsp;**Vanguard Annuities and Insurance Products** | Yes | No | Yes |
| &nbsp;&nbsp;**Vanguard ETFs** | Yes | No | Yes |
| &nbsp;&nbsp;**Vanguard Funds** | Yes | No | Yes |
| &nbsp;&nbsp;**Warrants** | Yes | Yes | Yes |

---

Page **32** of **37**

![](tm234376d1_coeimg01.jpg)

**APPENDIX D**

Trading and Reporting Requirements for Fund Access Persons

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Securities and Activities** | **Can I Trade** | **Preclear** | **7 Day Blackout** | **60 Day Hold** | **Reportable<sup>iii</sup>** |
| &nbsp;&nbsp;**American Depository Receipts (ADRs)** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Annuities and Insurance Products** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Bankers' Acceptances, Certificates of Deposits, and Commercial Paper** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Bonds (municipal and corporate)** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Cash** | No | No | No | No | No |
| &nbsp;&nbsp;**Closed-End Funds** | Yes | Yes | No | Yes | Yes |
| &nbsp;&nbsp;**Commodities (ex: futures & options)** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Currencies** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Debentures** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Digital Currency** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Digital Utility Tokens** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Digital Security Tokens** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Direct Obligations** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Non-Vanguard ETFs and ETNs** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Evidence of Indebtedness** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Government bonds** | Yes | No | No | No | No |
| &nbsp;&nbsp;**High Quality Short Term Debt Instruments** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Investment Contracts** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**IPOs (and ICOs)** | Prohibited | Prohibited | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**Money market instruments (non-Vanguard)** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Money market instruments (Vanguard)** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Open-End funds (non-Vanguard)** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Notes** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Options on Securities** | Prohibited | Prohibited | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**Private placements (unlisted securities)** | Yes<sup>v</sup> | Yes | No | No | Yes |
| &nbsp;&nbsp;**Rights** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Real Estate Investment Trusts** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Security Futures** | Prohibited | Prohibited | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**Short Positions** | Prohibited | Prohibited | Prohibited | Prohibited | Prohibited |

---

Page **33** of **37**

![](tm234376d1_coeimg01.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Securities and Activities** | **Can I Trade** | **Preclear** | **7 Day Blackout** | **60 Day Hold** | **Reportable<sup>iii</sup>** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**SPACs** | **Prohibited** | **Prohibited** | **Prohibited** |
| &nbsp;&nbsp;**Stocks** | Yes | Yes<sup>vi</sup> | Yes |
| &nbsp;&nbsp;**Unit Investment Trusts** | Yes | Yes | Yes |
| &nbsp;&nbsp;**UCIT Funds (non-Vanguard)** | No | No | No |
| &nbsp;&nbsp;**Vanguard Annuities and Insurance Products** | No | No | Yes |
| &nbsp;&nbsp;**Vanguard ETFs** | No | No | Yes |
| &nbsp;&nbsp;**Vanguard Funds** | No | No | Yes |
| &nbsp;&nbsp;**Warrants** | Yes | Yes | Yes |

---

Page **34** of **37**

![](tm234376d1_coeimg01.jpg)

**APPENDIX E**

Trading and Reporting Requirements for Investment Access Persons

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Securities and Activities** | **Can I Trade** | **Preclear** | **7 Day Blackout** | **60 Day Hold** | **Reportable<sup>iii</sup>** |
| &nbsp;&nbsp;**American Depository Receipts (ADRs)** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Annuities and Insurance Products** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Bankers' Acceptances, Certificates of Deposits, and Commercial Paper** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Bonds (municipal and corporate)** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Cash** | No | No | No | No | No |
| &nbsp;&nbsp;**Closed-End Funds** | Yes | Yes | No | Yes | Yes |
| &nbsp;&nbsp;**Commodities (ex: futures & options)** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Currencies** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Debentures** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Digital Currency** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Digital Utility Tokens** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Digital Security Tokens** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Direct Obligations** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Non-Vanguard ETFs and ETNs** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Evidence of Indebtedness** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Government bonds** | Yes | No | No | No | No |
| &nbsp;&nbsp;**High Quality Short Term Debt Instruments** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Investment Contracts** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**IPOs (and ICOs)** | Prohibited | Prohibited | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**Money market instruments (non-Vanguard)** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Money market instruments (Vanguard)** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Open-End funds (non-Vanguard)** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Notes** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Options on Securities** | Prohibited | Prohibited | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**Private placements (unlisted securities)** | Yes<sup>v</sup> | Yes | No | No | Yes |
| &nbsp;&nbsp;**Rights** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Real Estate Investment Trusts** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Security Futures** | Prohibited | Prohibited | Prohibited | Prohibited | Prohibited |
| &nbsp;&nbsp;**Short Positions** | Prohibited | Prohibited | Prohibited | Prohibited | Prohibited |

---

Page **35** of **37**

![](tm234376d1_coeimg01.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Securities and Activities** | **Can I Trade** | **Preclear** | **7 Day Blackout** | **60 Day Hold** | **Reportable<sup>iii</sup>** |
| &nbsp;&nbsp;**SPACs** | **Prohibited** | **Prohibited** | **Prohibited** | **Prohibited** | **Prohibited** |
| &nbsp;&nbsp;**Stocks** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**Unit Investment Trusts** | Yes | Yes | Yes | Yes | Yes |
| &nbsp;&nbsp;**UCITs Funds (non-Vanguard)** | Yes | No | No | No | No |
| &nbsp;&nbsp;**Vanguard Annuities and Insurance Products** | Yes | No | No | No | Yes |
| &nbsp;&nbsp;**Vanguard ETFs** | Yes | Yes | No | Yes | Yes |
| &nbsp;&nbsp;**Vanguard Funds** | Yes | No<sup>vii</sup> | No | No<sup>viii</sup> | Yes |
| &nbsp;&nbsp;**Warrants** | Yes | Yes | Yes | Yes | Yes |

---

Page **36** of **37**

![](tm234376d1_coeimg01.jpg)

**APPENDICES ENDNOTES**

Clarifications and explanations to the content within the appendices

<sup>i</sup> Accounts you share ownership with will need to be disclosed, e.g., a joint account

<sup>ii</sup> Fully managed accounts can be maintained outside of Vanguard with review and approval from the Code team. Please provide one of the following documents for review:

&nbsp;&nbsp;&nbsp;&nbsp;· A
 signed discretionary/advisory agreement from the outside firm, or

&nbsp;&nbsp;&nbsp;&nbsp;· A
 signed letter from your advisor on their firm's letterhead.

This documentation should include the following information:

&nbsp;&nbsp;&nbsp;&nbsp;· The account number(s) for any account considered fully managed

&nbsp;&nbsp;&nbsp;&nbsp;· The name of your advisor or the name of the program in
which the account is enrolled

&nbsp;&nbsp;&nbsp;&nbsp;· A statement that you have no discretion/trading authority
over your managed account(s)

<sup>iii</sup> Reportable on Initial Holdings Report or when acquired. All Crew and Contingent Workers deemed Associated Persons must report their accounts, holdings, and transactions through My Compliance Office (MCO).

<sup>iv</sup> Options on Covered Securities include trades that are exercised or assigned involuntarily by the crew member.

<sup>v</sup> Prohibited from acquiring Securities in a Private Placement without prior approval from Compliance.

<sup>vi</sup> Permitted to sell stock with a market cap above US $5 billion, so long as, over a rolling 30 day period, their total value aggregate sales of the stock does not exceed $10,000.

<sup>vii</sup> Vanguard ETFs require preclearance.

<sup>viii</sup> Vanguard ETFs require a 60 day hold.

Page **37** of **37**

## Ex-99.Cert

**Exhibit 99.CERT**

<u>CERTIFICATIONS</u>

I, Mortimer J. Buckley, certify that:

1. I have reviewed this report on Form N-CSR of Vanguard Variable Insurance Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: February 17, 2023 | /s/ Mortimer J. Buckley |
|  | Mortimer J. Buckley |
|  | Chief Executive Officer |

---

<u>CERTIFICATIONS</u>

I, Christine Buchanan, certify that:

1. I have reviewed this report on Form N-CSR of Vanguard Variable Insurance Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: February 17, 2023 | /s/ Christine Buchanan |
|  | Christine Buchanan |
|  | Chief Financial Officer |

---

## Exhibit 99.906

**Exhibit 99.906CERT**

**Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to**

**Section 906 of the Sarbanes-Oxley Act of 2002**

Name of Issuer: **<u>Vanguard Variable Insurance Funds</u>**

In connection with the Report on Form N-CSR of the above-named issuer that is accompanied by this certification, the undersigned hereby certifies, to his knowledge, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The
 Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange
 Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The
 information contained in the Report fairly presents, in all material respects, the financial
 condition and results of operations of the issuer.

---

| | |
|:---|:---|
| Date: February 17, 2023 | /s/ Mortimer J. Buckley |
|  | Mortimer J. Buckley |
|  | Chief Executive Officer |

---

**Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to**

**Section 906 of the Sarbanes-Oxley Act of 2002**

Name of Issuer: **<u>Vanguard Variable Insurance Funds</u>**

In connection with the Report on Form N-CSR of the above-named issuer that is accompanied by this certification, the undersigned hereby certifies, to her knowledge, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully
 complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of
 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information
 contained in the Report fairly presents, in all material respects, the financial condition
 and results of operations of the issuer.

---

| | |
|:---|:---|
| Date: February 17, 2023 | /s/ Christine Buchanan |
|  | Christine Buchanan |
|  | Chief Financial Officer |

---