# EDGAR Filing Document

**Accession Number:** 0000746601
**File Stem:** 0000940400-26-020675
**Filing Date:** 2026-5
**Character Count:** 73384
**Document Hash:** ad938c207d4b8a723e1063bb4e04a1dd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020675.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020675

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SIT MUTUAL FUNDS II INC
- **CENTRAL INDEX KEY:** 0000746601

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04033
- **FILM NUMBER:** 261008142

**BUSINESS ADDRESS:**
- **STREET 1:** 3300 IDS CTR, 80 S. 8TH STREET
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402
- **BUSINESS PHONE:** 612-332-3223

**MAIL ADDRESS:**
- **STREET 1:** 3300 IDS CTR, 80 S. 8TH STREET
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SIT NEW BEGINNING TAX FREE INCOME FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SIT NEW BEGINNING YIELD FUND INC
- **DATE OF NAME CHANGE:** 19880929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEW BEGINNING YIELD FUND INC
- **DATE OF NAME CHANGE:** 19870907

## Series and Classes Contracts Data

### Sit Quality Income Fund (Series ID: S000039473)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000121593 | Sit Quality Income Fund - Class S | SQIFX           |
| C000235257 | Sit Quality Income Fund - Class Y | SQIYX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SIT MUTUAL FUNDS II INC

- **b. Investment Company Act file number:** 811-04033

- **c. CIK number of Registrant:** 0000746601

- **d. LEI of Registrant:** 2549002D9C8PNDJXIE31

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

  - **Street Address 1:** 80 S. Eighth Street

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55402

  - **Telephone number:** 612-332-3223

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

- **a. Name of Series:** Sit Quality Income Fund

- **b. EDGAR series identifier (if any):** S000039473

- **c. LEI of Series:** 2549001NKE4X1WQU3S42

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $137501469.04

**Total Liabilities:** $584836.52

**Net Assets:** $136916632.52

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 82.65458000 | **1-Year:** 12307.15903000 | **5-Year:** 29253.29878000 | **10-Year:** 9801.33489000 | **30-Year:** 0.00000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000235257 | 0.36%                | 0.87%                | -0.66%               |
| Class ID C000121593 | 0.34%                | 0.85%                | -0.69%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1451.04                | $-24464.66                                 |
| Month 2  | $36425.15                | $673409.73                                 |
| Month 3  | $-6430.91                | $-1459841.51                               |

**Designated Index Information**

- **Index Name:** 1-3 Yr Gov/Credit

- **Index Identifier:** I01030US-USD

### Schedule of Portfolio Investments

| Name                                                   | Title                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Federal National Mortgage Association                  | FNR 2025-55 AN                                  | CUSIP: 3136BWRY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1347540 | PA      | $1341568.46   | 0.98%             | 2055-07-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| F N B Corp (Pennsylvania)                              | FNB V5.722 12/11/30                             | CUSIP: 302520AD3<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1205180.15   | 0.88%             | 2030-12-11      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Small Business Administration                          | SBAP 2006-20D 1                                 | CUSIP: 83162CQE6<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |      6575 | PA      | $6574.86      | 0.00%             | 2026-04-01      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD FINANCIAL CORP                             | FITB V5.982 01/30/30                            | CUSIP: 200340AW7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1057457.90   | 0.77%             | 2030-01-30      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2025-2                          | SEMT 2025-2 A4                                  | CUSIP: 816935AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    759610 | PA      | $762284.27    | 0.56%             | 2055-03-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Small Business Administration                          | SBA 522464                                      | CUSIP: 83165A5Z3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     77825 | PA      | $78979.03     | 0.06%             | 2028-02-25      | Variable      | 7.56%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5417 HA                                     | CUSIP: 3137HDF70<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    854742 | PA      | $857721.46    | 0.63%             | 2051-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FR SD8461                                       | CUSIP: 3132DWMJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    759000 | PA      | $748843.67    | 0.55%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2021-14                       | JPMMT 2021-14 A4                                | CUSIP: 46653QAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    621477 | PA      | $556984.07    | 0.41%             | 2052-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| KENTUCKY HSG CORP                                      | KY KYSSFH 6.25 01/01/2055                       | CUSIP: 491309GX2<br>LEI: 549300NTBUU903EKQ287 | Long             | DBT              | MUN               | US        |    955000 | PA      | $1004584.56   | 0.73%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNW 2004-W5 A1                                  | CUSIP: 31393YKM6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1269544 | PA      | $1317696.55   | 0.96%             | 2047-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Texas Capital Bancshares, Inc.                         | TCBI V5.301 02/27/32                            | CUSIP: 88224QAC1<br>LEI: 549300466Q2SXRX0YM48 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1208984.68   | 0.88%             | 2032-02-27      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OHIO MET HSG AUTH                             | OH COLHSG 4.6 12/01/2028                        | CUSIP: 19951ABD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993308.90    | 0.73%             | 2028-12-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FM1423                                       | CUSIP: 3140X4SM9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    381035 | PA      | $399709.48    | 0.29%             | 2040-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HSG & FIN ASSN                                   | ID IDSSFH 6.5 07/01/2056                        | CUSIP: 45130BEQ2<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1066545.67   | 0.78%             | 2056-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MD MDSDEV 6 09/01/2053                          | CUSIP: 57419T3R0<br>LEI: 549300Q5BSL77YR7NP93 | Long             | DBT              | MUN               | US        |    795000 | PA      | $828877.81    | 0.61%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2018-25 AG                                  | CUSIP: 3136B1VA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    708027 | PA      | $690543.89    | 0.50%             | 2047-04-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FS2938                                       | CUSIP: 3140XJHQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9821 | PA      | $9798.87      | 0.01%             | 2029-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 5226 D                                      | CUSIP: 3137H75R0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    294766 | PA      | $285613.59    | 0.21%             | 2045-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2023-4                          | SEMT 2023-4 A10                                 | CUSIP: 81743JAK6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     98775 | PA      | $98579.86     | 0.07%             | 2053-11-25      | Variable      | 5.76%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNGT 2002-T18 A4                                | CUSIP: 31392GFR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1774909 | PA      | $1912892.43   | 1.40%             | 2042-08-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5378 DA                                     | CUSIP: 3137HBK60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   2898235 | PA      | $2900355.41   | 2.12%             | 2049-05-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2025-5                          | SEMT 2025-5 A5                                  | CUSIP: 81743GAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    648283 | PA      | $648612.47    | 0.47%             | 2055-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                  | FN MA5136                                       | CUSIP: 31418EV64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1977876 | PA      | $1913223.70   | 1.40%             | 2053-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3.5 02/28/31                                  | CUSIP: 91282CQD6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    700000 | PA      | $686492.18    | 0.50%             | 2031-02-28      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FSPC T-60 1A2                                   | CUSIP: 31394XVE3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    648656 | PA      | $659251.88    | 0.48%             | 2044-03-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FS1689                                       | CUSIP: 3140XG2X6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1076122 | PA      | $1078906.46   | 0.79%             | 2039-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2025-1                          | SEMT 2025-1 A10                                 | CUSIP: 81743EAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1403249 | PA      | $1406850.60   | 1.03%             | 2055-01-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                        | CVSPAS 5.926 01/10/34 144A                      | CUSIP: 126650BY5<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    203582 | PA      | $207490.61    | 0.15%             | 2034-01-10      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| Fidelity Colchester Street Trust                       | Fidelity Colchester Street Trust MNY MRKT FDS I | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |    665873 | NS      | $665872.72    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                  | FN FM1424                                       | CUSIP: 3140X4SN7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1320363 | PA      | $1371833.13   | 1.00%             | 2038-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| F&G Global Funding                                     | FG 5.875 01/16/30 144A                          | CUSIP: 30321L2J0<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1240145.28   | 0.91%             | 2030-01-16      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                        | SCRT 2022-2 M5TU                                | CUSIP: 35563PG37<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1114352 | PA      | $1045172.86   | 0.76%             | 2062-04-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                        | CVSPAS 4.704 01/10/36 144A                      | CUSIP: 12665UAA2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    875008 | PA      | $825779.97    | 0.60%             | 2036-01-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG J16048                                       | CUSIP: 3128PVWH9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1475 | PA      | $1471.47      | 0.00%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA HSG FIN AGY                             | NC NCSHSG 6.5 01/01/2055                        | CUSIP: 6582073D5<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    450000 | PA      | $473806.13    | 0.35%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG U79061                                       | CUSIP: 3132G5B73<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    197204 | PA      | $197026.41    | 0.14%             | 2029-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 5627 DT                                     | CUSIP: 3137HQCN9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   2419288 | PA      | $2413350.05   | 1.76%             | 2053-09-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FM9878                                       | CUSIP: 3140XD6Q4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    428920 | PA      | $449940.81    | 0.33%             | 2040-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI HIGHWAYS AND TRANSPORTATION COMMISSION (MO)   | MO MOSTRN 5.45 05/01/2033                       | CUSIP: 60636WNU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    895000 | PA      | $919662.44    | 0.67%             | 2033-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| IDAHO HSG & FIN ASSN                                   | ID IDSSFH 6 01/01/2048                          | CUSIP: 45129Y2N5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    820000 | PA      | $856264.83    | 0.63%             | 2048-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2025-71 AD                                  | CUSIP: 38385FW56<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1549234 | PA      | $1547915.26   | 1.13%             | 2054-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2011-10 AC                                  | CUSIP: 31397QQA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1107497 | PA      | $1073113.85   | 0.78%             | 2041-02-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP                         | NY NYCHSG 4.27 02/01/2030                       | CUSIP: 64972KMP7<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003845.70   | 0.73%             | 2030-02-01      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2004-11 QG                                  | CUSIP: 38374FSA3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    148891 | PA      | $148570.88    | 0.11%             | 2034-02-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-4             | NRZT 2018-4A A1S                                | CUSIP: 64828FCQ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    110105 | PA      | $108339.75    | 0.08%             | 2048-01-27      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FS2000                                       | CUSIP: 3140XHGJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    269871 | PA      | $261591.92    | 0.19%             | 2038-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5280 A                                      | CUSIP: 3137H9JY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    810670 | PA      | $767678.36    | 0.56%             | 2050-01-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 256022                                       | CUSIP: 31371MLB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    371325 | PA      | $383175.85    | 0.28%             | 2035-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2021-7                        | JPMMT 2021-7 A4                                 | CUSIP: 46592NAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    380526 | PA      | $343232.71    | 0.25%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| MSCI Inc.                                              | MSCI 3.875 02/15/31 144A                        | CUSIP: 55354GAL4<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1182278.76   | 0.86%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2020-149 AW                                 | CUSIP: 38382KBK8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1354070 | PA      | $1364379.55   | 1.00%             | 2050-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2024-CES4                          | RCKT 2024-CES4 A1A                              | CUSIP: 74939FAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    384518 | PA      | $387162.87    | 0.28%             | 2044-06-25      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FM5110                                       | CUSIP: 3140X8VC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    257094 | PA      | $255633.30    | 0.19%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN BM1414                                       | CUSIP: 3140J5SC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    420585 | PA      | $445652.44    | 0.33%             | 2040-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PINNACLE FINANCIAL PARTNERS INC                        | PNFP V6.168 11/01/30                            | CUSIP: 87161CAP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1197768.01   | 0.87%             | 2030-11-01      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2025-84 A                                   | CUSIP: 3136BXF82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2196579 | PA      | $2212398.36   | 1.62%             | 2055-02-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fresb Mortgage Trust                                   | FRESB 2018-SB45 A5H                             | CUSIP: 30308AAG8<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |    120566 | PA      | $120002.59    | 0.09%             | 2037-11-25      | Variable      | 4.48%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND STUDENT LOAN AUTHORITY (RI)               | RI RISSTD 5.8 12/01/2033                        | CUSIP: 762323CV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031145.40   | 0.75%             | 2033-12-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2017-3             | NRZT 2017-3A A1                                 | CUSIP: 64828MAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    146391 | PA      | $141428.92    | 0.10%             | 2057-04-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2025-74 CN                                  | CUSIP: 3136BXGG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2293421 | PA      | $2281712.30   | 1.67%             | 2053-02-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND STUDENT LOAN AUTHORITY (RI)               | RI RISSTD 4 12/01/2038                          | CUSIP: 762315RS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $992396.50    | 0.72%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST HSG CORP                                       | UT UTSSFH 6.25 01/01/2054                       | CUSIP: 917437FP5<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    890000 | PA      | $933610.71    | 0.68%             | 2054-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| J P MORGAN MORTGAGE TRUST 2025-1                       | JPMMT 2025-1 A4                                 | CUSIP: 46658UAE1<br>LEI: 529900DB310G9HU4BP72 | Long             | ABS-O            | CORP              | US        |    969778 | PA      | $975052.86    | 0.71%             | 2055-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| First Horizon Corporation                              | FHN V5.514 03/07/31                             | CUSIP: 320517AE5<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | DBT              | CORP              | US        |    650000 | PA      | $658447.30    | 0.48%             | 2031-03-07      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN BM1065                                       | CUSIP: 3140J5FF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    428933 | PA      | $442644.18    | 0.32%             | 2042-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Western Alliance Bancorp                               | WAL V3 06/15/31                                 | CUSIP: 957638AD1<br>LEI: 5493003VJXZ5JXT9S762 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1341522.00   | 0.98%             | 2031-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 80686                                        | CUSIP: 36225CXQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10033 | PA      | $10156.15     | 0.01%             | 2033-04-20      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2010-68 W                                   | CUSIP: 31398TGG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    143003 | PA      | $124459.00    | 0.09%             | 2037-07-25      | Variable      | 1.31%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2023-64 HA                                  | CUSIP: 3136BQZS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2576394 | PA      | $2610224.40   | 1.91%             | 2050-09-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 786951                                       | CUSIP: 3622ACTG5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    837395 | PA      | $853488.23    | 0.62%             | 2038-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FM1324                                       | CUSIP: 3140X4PJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     86169 | PA      | $85405.80     | 0.06%             | 2031-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FS2454                                       | CUSIP: 3140XHWQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    577752 | PA      | $571930.94    | 0.42%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                  | FN MA1029                                       | CUSIP: 31418AEB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1009864 | PA      | $990064.49    | 0.72%             | 2032-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DTE Electric Securitization Funding II LLC             | DTE 5.97 03/01/32 A-1                           | CUSIP: 23346TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    831559 | PA      | $871214.10    | 0.64%             | 2032-03-01      | Fixed         | 5.97%                 | No            |                  2 | On Loan: No      |
| Small Business Administration                          | SBA 522422                                      | CUSIP: 83165A4F8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     41832 | PA      | $42478.57     | 0.03%             | 2030-03-25      | Variable      | 7.55%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                        | CVSPAS 6.943 01/10/30                           | CUSIP: 126650BQ2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    327280 | PA      | $336946.64    | 0.25%             | 2030-01-10      | Fixed         | 6.94%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                               | MN MNSHSG 6.12 07/01/2055                       | CUSIP: 60416UQK4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    960000 | PA      | $1018531.87   | 0.74%             | 2055-07-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5470 MA                                     | CUSIP: 3137HHCT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    746950 | PA      | $748664.82    | 0.55%             | 2052-04-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                  | FNGT 2004-T5 A11                                | CUSIP: 31394AYP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    265636 | PA      | $272164.56    | 0.20%             | 2035-05-28      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2025-100 CT                                 | CUSIP: 3136BX5G5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2318378 | PA      | $2294481.52   | 1.68%             | 2055-12-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG J20469                                       | CUSIP: 31306XQW6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      6922 | PA      | $6870.00      | 0.01%             | 2027-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5585 M                                      | CUSIP: 3137HNJT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1560419 | PA      | $1541880.34   | 1.13%             | 2055-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5537 EA                                     | CUSIP: 3137HLCU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    890213 | PA      | $885814.13    | 0.65%             | 2052-05-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                  | IL ILSHSG 6.5 04/01/2054                        | CUSIP: 45203MVG3<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    860000 | PA      | $907140.99    | 0.66%             | 2054-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY                           | MA MASHSG 6.5 12/01/2052                        | CUSIP: 57587GB20<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    910000 | PA      | $962252.47    | 0.70%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2025-135 CD                                 | CUSIP: 38381QFH9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1758611 | PA      | $1758448.41   | 1.28%             | 2052-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 5252 BT                                     | CUSIP: 3137H8X97<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    688457 | PA      | $713133.62    | 0.52%             | 2052-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG G14366                                       | CUSIP: 3128MDCB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3218 | PA      | $3211.82      | 0.00%             | 2027-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 890703                                       | CUSIP: 31410LRY0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7423 | PA      | $7357.59      | 0.01%             | 2028-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5444 AB                                     | CUSIP: 3137HFCF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    304583 | PA      | $304008.93    | 0.22%             | 2049-09-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2025-66 KA                                  | CUSIP: 3136BWA71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1744389 | PA      | $1741144.04   | 1.27%             | 2052-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNW 2002-W1 2A                                  | CUSIP: 31392CMS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1028771 | PA      | $1027071.85   | 0.75%             | 2042-02-25      | Variable      | 4.31%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN MA0792                                       | CUSIP: 31417Y3A3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    135712 | PA      | $136068.56    | 0.10%             | 2031-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FS1979                                       | CUSIP: 3140XHFV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    194204 | PA      | $190492.94    | 0.14%             | 2030-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                  | FN MA5202                                       | CUSIP: 31418EX88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1714545 | PA      | $1767564.31   | 1.29%             | 2038-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2024-79 MC                                  | CUSIP: 38384PHE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    877123 | PA      | $884983.79    | 0.65%             | 2049-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Great River Energy                                     | GRRIVE 6.254 07/01/38 144A                      | CUSIP: 39121JAE0<br>LEI: 5493007CIM8IF8LIUC91 | Long             | DBT              | CORP              | US        |    718063 | PA      | $757156.61    | 0.55%             | 2038-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                        | FR ZI8860                                       | CUSIP: 3131WMZZ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    311891 | PA      | $307157.64    | 0.22%             | 2039-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                | CO COSHSG 6.5 05/01/2048                        | CUSIP: 196480N37<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    555000 | PA      | $587818.15    | 0.43%             | 2048-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH                            | MA MASEDU 2.64 07/01/2037                       | CUSIP: 57563RRZ4<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    775000 | PA      | $682194.91    | 0.50%             | 2037-07-01      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNW 2004-W9 1A3                                 | CUSIP: 31394ACG9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    595666 | PA      | $614588.63    | 0.45%             | 2044-02-25      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2015-61 VB                                  | CUSIP: 3136APL83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    829289 | PA      | $823799.76    | 0.60%             | 2034-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG G18592                                       | CUSIP: 3128MMUS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1470417 | PA      | $1435080.69   | 1.05%             | 2031-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 4246 PT                                     | CUSIP: 3137B4PT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    152500 | PA      | $157772.00    | 0.12%             | 2036-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SBA Tower Trust                                        | SBATOW 4.831 10/15/29 144A                      | CUSIP: 78403DBD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525000 | PA      | $527260.23    | 0.39%             | 2029-10-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2009-24 LC                                  | CUSIP: 31397NWG6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    193228 | PA      | $170946.23    | 0.12%             | 2039-04-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2025-CES1                          | RCKT 2025-CES1 A1B                              | CUSIP: 749427AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    984791 | PA      | $988883.20    | 0.72%             | 2045-01-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG G14677                                       | CUSIP: 3128MDM26<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |         0 | PA      | $0.07         | 0.00%             | 2026-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2025-4                          | SEMT 2026-1 A5                                  | CUSIP: 81750KAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1547950 | PA      | $1526405.39   | 1.11%             | 2056-02-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2022-42 GV                                  | CUSIP: 3136BNRN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    716677 | PA      | $713834.55    | 0.52%             | 2033-07-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2024-116 MB                                 | CUSIP: 38384QFN3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    535359 | PA      | $546965.04    | 0.40%             | 2054-03-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5487 CA                                     | CUSIP: 3137HHTT8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1579071 | PA      | $1588400.06   | 1.16%             | 2051-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FS6523                                       | CUSIP: 3140XNG99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    610875 | PA      | $622945.50    | 0.45%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Small Business Administration                          | SBA 510139                                      | CUSIP: 83164MHQ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     95537 | PA      | $95625.98     | 0.07%             | 2043-05-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5391 EA                                     | CUSIP: 3137HBU85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1012533 | PA      | $1019285.14   | 0.74%             | 2049-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FM2769                                       | CUSIP: 3140X6CF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    654531 | PA      | $669085.10    | 0.49%             | 2049-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO MORTGAGE BACKED SECURITIES 2020-5 TRUST    | WFMBS 2020-5 A3                                 | CUSIP: 95003BAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    166228 | PA      | $153218.43    | 0.11%             | 2050-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| YAMHILL (OR), COUNTY OF                                | OR YAMGEN 4.5 10/01/2030                        | CUSIP: 98464TAL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $268317.81    | 0.20%             | 2030-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FSPC T-54 2A                                    | CUSIP: 31393LFK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1603860 | PA      | $1686518.61   | 1.23%             | 2043-02-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                               | PA PASSFH 6.5 10/01/2055                        | CUSIP: 70879Q3C5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    750000 | PA      | $812750.78    | 0.59%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN DA0820                                       | CUSIP: 3140A04E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    958774 | PA      | $984123.28    | 0.72%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5452 CB                                     | CUSIP: 3137HFFV2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    836455 | PA      | $835423.08    | 0.61%             | 2051-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FR ZS8577                                       | CUSIP: 3132A9Q67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1212217 | PA      | $1174776.18   | 0.86%             | 2030-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS STATE TRANSN FUNDING REV                 | MA MASTRN 5.63 06/01/2030                       | CUSIP: 57604TAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023387.30   | 0.75%             | 2030-06-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2021-6                        | JPMMT 2021-6 A4                                 | CUSIP: 46653PAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1109222 | PA      | $1001620.06   | 0.73%             | 2051-10-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH                            | MA MASEDU 6.07 07/01/2033                       | CUSIP: 57563RTW9<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    750000 | PA      | $777426.60    | 0.57%             | 2033-07-01      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2023-CES3                          | RCKT 2023-CES3 A1A                              | CUSIP: 749407AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    437709 | PA      | $441029.99    | 0.32%             | 2043-11-25      | Variable      | 7.11%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2024-9                          | SEMT 2024-9 A11                                 | CUSIP: 81749PAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     88505 | PA      | $88272.60     | 0.06%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 783412                                       | CUSIP: 36241LYH3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |         3 | PA      | $2.60         | 0.00%             | 2026-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AB8459                                       | CUSIP: 31417FMH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     81551 | PA      | $81035.90     | 0.06%             | 2027-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST 2024-4               | CHASE 2024-4 A6                                 | CUSIP: 16159NAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    494251 | PA      | $495617.77    | 0.36%             | 2055-03-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                  | FN MA5038                                       | CUSIP: 31418ES43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2730618 | PA      | $2705735.06   | 1.98%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOWD POINT MORTGAGE TRUST 2023-CES2                    | TPMT 2023-CES2 A1A                              | CUSIP: 89182FAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    219256 | PA      | $220546.77    | 0.16%             | 2063-10-25      | Variable      | 7.29%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MTG FIN AUTH                                | NM NMSHSG 6.25 03/01/2055                       | CUSIP: 647201N40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $735802.20    | 0.54%             | 2055-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST 2024-3               | CHASE 2024-3 A4                                 | CUSIP: 16159HAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    418739 | PA      | $421026.51    | 0.31%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2011-146 LX                                 | CUSIP: 3136A3KN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    165995 | PA      | $165463.40    | 0.12%             | 2040-10-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Truist Bank (North Carolina)                           | TFC 2.25 03/11/30 BKNT                          | CUSIP: 89788KAA4<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $908507.93    | 0.66%             | 2030-03-11      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5440 NG                                     | CUSIP: 3137HDYZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    436471 | PA      | $436256.40    | 0.32%             | 2049-09-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS HSG DEV AUTH                                  | IL ILSHSG 6.25 04/01/2056                       | CUSIP: 45203MV57<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1053834.85   | 0.77%             | 2056-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fresb Mortgage Trust                                   | FRESB 2018-SB46 A5H                             | CUSIP: 30306NAE7<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |    463843 | PA      | $461347.18    | 0.34%             | 2037-12-25      | Variable      | 4.48%                 | No            |                  2 | On Loan: No      |
| Associated Banc-Corp                                   | ASB V6.455 08/29/30                             | CUSIP: 045487AD7<br>LEI: 549300N3CIN473IW5094 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1432845.60   | 1.05%             | 2030-08-29      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| KENTUCKY HIGHER EDUCATION STUDENT LOAN CORP (KY)       | KY KYSSTD 2.52 06/01/2035                       | CUSIP: 49130NFZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $440842.84    | 0.32%             | 2035-06-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRUCTURED PASS THROUGH CERTIFICATES       | SCRT 2019-4 M55D                                | CUSIP: 35563PMT3<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |    195384 | PA      | $183559.49    | 0.13%             | 2059-02-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 CO9482                                       | CUSIP: 3617FMRB1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2050187 | PA      | $2060223.49   | 1.50%             | 2062-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WOODWARD CAPITAL MANAGEMENT                            | RCKT 2025-CES3 A1A                              | CUSIP: 749420AA3<br>LEI: 254900HS4CN69R7ARQ97 | Long             | ABS-O            | CORP              | US        |    742823 | PA      | $746942.94    | 0.55%             | 2055-03-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH                            | CT CTSHSG 5.75 11/15/2054                       | CUSIP: 20775H3B7<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    955000 | PA      | $983948.25    | 0.72%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2025-4                          | SEMT 2025-4 A11                                 | CUSIP: 81749MAL1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    826367 | PA      | $826904.25    | 0.60%             | 2055-04-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FR SB0938                                       | CUSIP: 3132CXBF8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    765260 | PA      | $771359.91    | 0.56%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2024-4 GK                                   | CUSIP: 38384HL22<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    589709 | PA      | $592265.32    | 0.43%             | 2052-03-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2021-1                        | JPMMT 2021-1 A4                                 | CUSIP: 46592EAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    431977 | PA      | $398363.97    | 0.29%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN MA5442                                       | CUSIP: 31418FBL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1934231 | PA      | $1867512.95   | 1.36%             | 2054-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN MA0878                                       | CUSIP: 31417Y6Q5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3935 | PA      | $3901.39      | 0.00%             | 2031-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 MA0037                                       | CUSIP: 36179MBE9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3499 | PA      | $3516.59      | 0.00%             | 2042-04-20      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH                                 | NE NESSFH 6 09/01/2053                          | CUSIP: 63968XAD7<br>LEI: 549300OIIXIM3SRZWK33 | Long             | DBT              | MUN               | US        |    975000 | PA      | $1023129.71   | 0.75%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AD8537                                       | CUSIP: 31418WPX2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    257060 | PA      | $265177.33    | 0.19%             | 2040-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN BF0143                                       | CUSIP: 3140FXER9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1498662 | PA      | $1543104.25   | 1.13%             | 2056-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Crown Castle Towers LLC                                | CROCAS 4.241 07/15/28 144A                      | CUSIP: 22822RBH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1350000 | PA      | $1341283.86   | 0.98%             | 2028-07-15      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST 2024-CES3                          | RCKT 2024-CES3 A1A                              | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    993718 | PA      | $1003211.09   | 0.73%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TRUST 2024-4                        | JPMMT 2024-4 A4A                                | CUSIP: 46657WAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300932 | PA      | $301836.05    | 0.22%             | 2054-10-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHR 5596 CA                                     | CUSIP: 3137HNTC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1194140 | PA      | $1186370.23   | 0.87%             | 2055-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| First Citizens BancShares Inc (Delaware)               | FCNCA V5.231 03/12/31                           | CUSIP: 31959XAC7<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1190113.26   | 0.87%             | 2031-03-12      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG C91402                                       | CUSIP: 3128P7RX3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     66702 | PA      | $66200.69     | 0.05%             | 2031-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Small Business Administration                          | SBAP 2007-20B 1                                 | CUSIP: 83162CQV8<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |      8409 | PA      | $8450.57      | 0.01%             | 2027-02-01      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST 2020-4                          | SEMT 2020-4 A5                                  | CUSIP: 81748RAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    189539 | PA      | $175770.99    | 0.13%             | 2050-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG E02927                                       | CUSIP: 31294MHC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |        85 | PA      | $84.36        | 0.00%             | 2026-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 3756 PZ                                     | CUSIP: 3137A2NU1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   2082559 | PA      | $2023419.42   | 1.48%             | 2040-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HSG & FIN ASSN                                   | ID IDSSFH 6.5 07/01/2053                        | CUSIP: 45129Y3Y0<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    845000 | PA      | $896915.36    | 0.66%             | 2053-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA DEV FIN AUTH                                  | OK OKSDEV 3.88 05/01/2037                       | CUSIP: 6789084C5<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |    349205 | PA      | $344103.54    | 0.25%             | 2037-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NEVADA HSG DIV                                         | NV NVSSFH 6.25 10/01/2056                       | CUSIP: 641279R22<br>LEI: 549300RE377OK3CTT852 | Long             | DBT              | MUN               | US        |    500000 | PA      | $533078.20    | 0.39%             | 2056-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MONROE COUNTY WATER AUTHORITY (NY)                     | NY MONWTR 6.26 08/01/2030                       | CUSIP: 610763PG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1506837.43   | 1.10%             | 2030-08-01      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN FS3281                                       | CUSIP: 3140XJUF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    391377 | PA      | $402119.82    | 0.29%             | 2049-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-21

**Name of Applicant:** SIT MUTUAL FUNDS II INC

**Signature:** Paul Rasmussen

**Name of Signer:** Paul Rasmussen

**Title:** VP, Treasurer & Chief Compliance Officer